Nimble Storage increases IPO price range to $18 to $20, deal size is now $160 million

By Renaissance Capital,

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Nimble Storage, which sells hybrid flash/disk storage arrays to enterprises, raised the proposed deal size for its upcoming IPO on Wednesday. The San Jose, CA-based company now plans to raise up to $160 million by offering 8.0 million shares at a price range of $18 to $20. The company had previously filed to offer the same number of shares at a range of $16 to $18. At the high end of the revised range, Nimble Storage would raise 18% greater proceeds than previously anticipated.

Nimble Storage, which was founded in 2007 and booked $104 million in sales for the 12 months ended October 31, 2013, plans to list on the NYSE under the symbol NMBL. Nimble Storage initially filed confidentially on August 19, 2013. Goldman Sachs and Morgan Stanley are the joint bookrunners on the deal. It is expected to price during the week of December 9, 2013.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: NMBL

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