Chip Sage goes for IPO

Semiconductor designer Sage is to float on Nasdaq, offering three million shares of common stock at $12 each. The company will use the cash from the IPO for working capital expenditures and general company uses, it said yesterday. The offering is being made by its underwriters managed by Robertson Stephens, Prudential Securities and Needham & Company. It will trade under the symbol SAGI. California-based Sage designs and makes digital display chips for analog to digital conversion. ®