Audience Announces Exercise of Underwriter Option in Initial Public Offering

MOUNTAIN VIEW, CA -– May 14, 2012 – Audience, Inc. (NASDAQ: ADNC), the leading provider of intelligent voice and audio solutions that improve voice quality and the user experience in mobile devices, today announced that, in connection with its previously announced initial public offering, the underwriters have exercised, in full, their option to purchase an additional 790,527 shares of common stock from Audience at the public offering price of $17.00 per share, less underwriting discounts and commissions.

The full exercise of the option brings the total number of shares of common stock to be sold in the initial public offering to 6,060,707. Of the shares of common stock in the offering, Audience is selling 5,790,527 shares and selling stockholders are selling 270,180 shares. The aggregate net proceeds to be received by Audience are expected to be approximately $87.7 million, after the underwriting discounts and commissions and estimated offering expenses payable by the company. Audience will not receive any proceeds from the sale of shares by the selling stockholders. The offering is expected to close on or about May 15, 2012, subject to customary closing conditions.

J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering. Pacific Crest Securities LLC is acting as co-manager for the offering.

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on May 9th, 2012. This offering is being made only by means of a prospectus, copies of which may be obtained from J.P. Morgan Securities LLC (Broadridge Financial Solutions, 1155 Long Island Avenue Edgewood, New York 11717, + 1 (866) 803-9204), Credit Suisse Securities (USA) LLC (Prospectus Department, One Madison Avenue, New York, New York 10010, +1 (800) 221-1037 or This email address is being protected from spambots. You need JavaScript enabled to view it. ), or Deutsche Bank Securities Inc. (Prospectus Group, 60 Wall Street, New York, New York, +1 (800) 503-4611 or This email address is being protected from spambots. You need JavaScript enabled to view it. ).

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About Audience
Audience is the leading provider of intelligent voice and audio solutions that improve voice quality and the user experience of mobile devices.  Its family of earSmart™ intelligent voice processors is based on the processes of human hearing, to suppress background noise and enhance mobile voice quality. Audience's technology substantially improves the mobile voice experience, while also improving the performance of speech-based services, and enhancing audio quality for multimedia.  Audience earSmart™ processors are featured in mobile devices from leading providers in Asia-Pacific, Europe and the U.S. The company is based in Mountain View, California. For more information, see www.audience.com.

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