Pure Storage, which provides flash memory-based enterprise storage hardware, raised $425 million by offering 25 million shares at $17, the midpoint of the $16-$18 range. At its offer price, Pure Storage commands a fully-diluted market cap of $3.9 billion, and its $425 million offering is the largest for a VC-backed tech IPO this year. The company will list on the NYSE under the symbol PSTG. Morgan Stanley, Goldman Sachs, Barclays, Allen & Company and BofA Merrill Lynch acted as lead managers on the deal.
The article Pure Storage prices IPO at $17, within the range; largest VC-backed tech IPO of 2015 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.
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