Cloud storage provider Tintri sets terms for $100 million IPO

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Tintri, which sells virtualized storage appliances to enterprises, announced terms for its IPO on Friday.

The Mountain View, CA-based company plans to raise $100 million by offering 8.7 million shares at a price range of $10.50 to $12.50. At the midpoint of the proposed range, Tintri would command a fully diluted market value of $379 million.

Tintri was founded in 2008 and booked $133 million in sales for the 12 months ended April 30, 2017. It plans to list on the Nasdaq under the symbol TNTR. Morgan Stanley and BofA Merrill Lynch are the joint bookrunners on the deal. A pricing date has not yet been announced.

The article Cloud storage provider Tintri sets terms for $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

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

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