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OCZ Technology Group Announces Pricing of Common Stock Offering

/ Source: GlobeNewswire

SAN JOSE, Calif., April 8, 2011 (GLOBE NEWSWIRE) -- OCZ Technology Group, Inc., (Nasdaq:OCZ) a leading designer, manufacturer and distributor of high-performance solid state drives, announced today the pricing of a common stock offering of 10,200,000 primary shares at a price of $8.50 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,530,000 shares of common stock to cover over allotments of shares, if any.

OCZ will receive approximately $81 million in net proceeds from the offering, or approximately $94 million if the underwriters exercise their over-allotment option in full, after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering for general corporate purposes.

Stifel Nicolaus Weisel and Needham & Company, LLC are joint book-running managers for the offering. Craig-Hallum Capital Group and Merriman Capital are co-managers for the offering.

A shelf registration statement relating to the offering of the common stock was filed with the U.S. Securities and Exchange Commission on March 4, 2011 and has become effective. The offering is being made only by means of a prospectus supplement and accompanying prospectus, forming an effective part of the registration statement. Before investing, you should read the prospectus supplement and the accompanying prospectus for information about OCZ Technology Group, Inc. and this offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A copy of the final prospectus relating to the offering may be obtained for free by visiting EDGAR on the SEC's website at  or by contacting Stifel, Nicolaus & Company, Incorporated, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by calling 415-364-2720.

About OCZ Technology Group, Inc.

Founded in 2002, OCZ Technology Group, Inc. (OCZ) is a leader in the design, manufacturing, and distribution of high performance and reliable solid-state drives (SSDs). OCZ has built on its expertise in high-speed memory to become a leader in the SSD market, a technology that competes with traditional rotating magnetic hard disk drives (HDDs). In addition to SSD technology, OCZ also offers high performance components for computing devices and systems, including enterprise-class power management products. For more information, please visit: .

The OCZ Technology Group, Inc. logo is available at

Cautionary Note Regarding Forward-Looking Statements

Any statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the "Risk Factors" section of our prospectus supplement and accompanying prospectus, forming an effective part of the registration statement on Form S-3, and other required reports, as filed with the SEC, which are available free of charge on the SEC's website at or on our website at Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. These forward-looking statements speak only as of the date hereof, and we undertake no obligation to update, amend or clarify any forward-looking statement for any reason.

CONTACT: Investor Relations Contact: OCZ Technology Group, Inc. Bonnie Mott, Investor Relations Manager 408-440-3428