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The flash unicorn: Pure Storage sets terms for $425 million IPO

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Pure Storage, which provides flash memory-based enterprise storage hardware, announced terms for its IPO on Thursday.

The Mountain View, CA-based company plans to raise $425 million by offering 25 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Pure Storage would command a fully diluted market value of $3.9 billion.

Based on our data, Pure Storage is correct in claiming it is the fastest growing company in storage industry history .

The company's largest competitor is EMC ( EMC ).

Pure Storage, which was founded in 2009 and booked $274 million in sales for the 12 months ended July 31, 2015, plans to list on the NYSE under the symbol PSTG. Morgan Stanley, Goldman Sachs, Barclays, Allen & Company and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of October 5, 2015 .

The article The flash unicorn: Pure Storage sets terms for $425 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.


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

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