MagnaChip Announces Pricing of Secondary Offering of 7,000,000 Shares of Common Stock at $11.40/Share

MagnaChip Semiconductor Corporation MX today announced that certain of its stockholders (the "selling stockholders") priced an underwritten registered public offering of 7,000,000 shares of MagnaChip's common stock at a price per share of $11.40. The selling stockholders have granted the underwriters of the common stock an option to purchase an additional 1,050,000 shares of common stock. The common stock offering is expected to close on May 7, 2012, subject to customary closing conditions. MagnaChip will not receive any proceeds from the sale of its common stock by the selling stockholders.