 On June 30, 1998, MIPS held an IPO after raising about $16.3 million with an offering price of $14 a share.In 1999, SGI announced it would overhaul its operations; it planned to continue introducing new MIPS processors until 2002, but its server business would include Intel's processor architectures as well.SGI spun MIPS out completely on June 20, 2000 by distributing all its interest as stock dividend to the stockholders.