Add as a preferred source on GoogleSK hynix Pauses Solidigm IPO Review and Pre-IPO Financing
The U.S. storage subsidiary had considered a Nasdaq listing as early as 2027, while some SK hynix shareholders raised dilution concerns.
SK hynix has paused Solidigm’s U.S. IPO review and pre-IPO financing, putting a potential Nasdaq listing for its storage subsidiary on hold, citing capital-market conditions and other factors.
Work on Solidigm’s pre-IPO financing and IPO evaluation has halted. Solidigm had considered a U.S. offering as early as 2027, part of its earlier IPO evaluation. SK hynix had previously said Solidigm was reviewing ways to improve its competitiveness without committing to a specific listing.
Some SK hynix shareholders opposed the plan, citing dilution concerns and the possibility of separating a business they already owned indirectly through SK hynix. SK hynix is looking for other funding options for Solidigm’s expansion.
The U.S. subsidiary was formed in 2021 after SK hynix reorganized Intel’s flash-storage business it had acquired.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.