Spansion, one of the world's largest providers of flash memory solutions, last month held its initial public offering on the NASDAQ of a total of 42.2 million shares of Class A stock at $12 apiece. A joint venture of Advanced Micro Devices and Fujitsu, Spansion is the largest company in the world dedicated exclusively to developing flash memory products and systems used in electronic devices, such as wireless phones, networking equipment, and automotive subsystems. The company, which specializes in NOR flash memory chips, posted $2.3 billion in revenues in 2004.