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    Fusion-io IPO: Unique Product, Massive Addressable Market Opportunity

    Wed, 06/08/2011 - 14:18 EDT - Seeking Alpha
    • FIO
    • Renaissance Capital IPO Research

    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.
    Background
    Fusion-io seeks to address what it refers to asComplete Story »

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