09:29 AM EDT, 06/26/2025 (MT Newswires) -- (Updates with stock move in headline and first paragraph.)

SiTime ( SITM ) shares dropped 1.6% in recent premarket activity Thursday after the company priced its follow-on public offering of 1.75 million common shares at $200 per share for gross proceeds of about $350 million.

Underwriters have a 30-day overallotment option to purchase up to 262,500 additional shares, the company said.

The offering is expected to close Friday.