The chief executive of Irvine-based memory products maker Netlist Inc. sold $3.7 million worth of stock just weeks after the company’s impressive initial public offering, according to a government filing Wednesday.
Chun K. Hong reported he sold 531,250 shares last week for $7 apiece. Hong founded Netlist and also serves as chairman.
Netlist went public on Nov. 30 and raised an estimated $34 million. The company, whose shares closed Wednesday at $9.50 with a market value of $185 million, makes circuit boards with memory chips for Dell Inc. and other computer makers.
The company expects to use money from the offering for acquisitions, production and paying down about $1 million in debt.
