Nassda Plans to Raise $50 Million Through IPO

Nassda Corp., a Santa Clara developer of semiconductor software, plans to raise $50 million through an initial public offering of 5 million shares for an estimated $8 to $10 each.

Nassda disclosed its planned IPO terms in a filing with the Securities and Exchange Commission. The company estimated its net proceeds will be about $40.3 million after underwriting expenses if shares sell for $9, the middle of the anticipated price range.

Founded in 1998, Nassda makes software for the design and verification of complex chips. It began licensing its software in 1999. Its customers include Advanced Micro Devices Inc., Micron Technology Inc. and Toshiba Corp.

Nassda has applied to have its shares trade on Nasdaq under the ticker symbol NSDA.