Fusion-io IPO: Unique Product, Massive Addressable Market Opportunity
Renaissance Capital IPO Research submits:
Backed by venture firms NEA and Lightspeed, Fusion-io (FIO) markets a next generation storage memory platform that boosts data access speeds. The company plans to raise $209 million in its IPO by offering 12.3 million shares at a proposed price range of $16 and $18; it had originally filed to offer shares at $13 to $15 before boosting the price range by 21% in a sign of strong deal demand.At the midpoint of the upwardly revised range, Fusion-io would be valued at $1.7 billion. Fusion-io plans to price today (Wednesday) after the market close and list on the NYSE on Thursday under the ticker symbol FIO. Goldman, Sachs & Co., Credit Suisse, Morgan Stanley and J.P. Morgan are the lead underwriters on the deal, which is one of three deals scheduled to price on this week's US IPO calendar.
Fusion-io seeks to address what it refers to asComplete Story »