Arm opens at $56.10, IPO priced at $51 per share

Arm (ARM), the chip designer owned by SoftBank Group (SFTBY), priced 95.5M shares at $51.00. The deal priced at the high end of its $47.00-$51.00 range. Barclays, Goldman Sachs, JPMorgan and Mizuho acted as joint book running managers for the offering. Previously, Arm has said that Advanced Micro Devices (AMD), Apple (AAPL), Cadence Design Systems (CDNS), Google (GOOGL), Intel (INTC), MediaTek’s affiliated entities, Nvidia (NVDA), Samsung Electronics, Synopsys (SNPS) and TSMC Partners (TSM) – collectively, the “Cornerstone Investors” – have, severally and not jointly, indicated an interest in purchasing up to an aggregate of $735M of the ADSs offered in this offering at the initial public offering price and on the same terms and conditions as the other purchasers in this offering.