Fusion-io (FIO) Boosts Expected IPO Price 20%
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In an amended S-1 filing, Fusion-io (NYSE: FIO) raised the expected price of its IPO from $13-$15 to $16-$18 per share. A total of 12.3 million shares are being sold in the offering; 10,755,607 shares from the company and 1,544,393 shares from stockholders. The IPO will open later this week on the NYSE under the symbol "FIO."
The offering is being led by Goldman Sachs, Morgan Stanley, JP Morgan and Credit Suisse.
Fusion-io offers a next generation storage memory platform for data decentralization.
Fusion-io had revenue of $125.52 million for the nine months ended March 31, 2011. This is up from revenues of $25.29 million for the nine months ended March 31, 2010. Net loss during the 2011 nine month period was $1.21 million, versus a loss of $19.84 million in the first nine months of the 2010 fiscal year. Gross margin was 52% for the 2011 nine month period, down from 60% in last year's first nine month period.
The number of shares that will be outstanding after the offering is 77,809,084 shares, which would put the market cap at $1.4 billion if the IPO prices at $18.
The offering is being led by Goldman Sachs, Morgan Stanley, JP Morgan and Credit Suisse.
Fusion-io offers a next generation storage memory platform for data decentralization.
Fusion-io had revenue of $125.52 million for the nine months ended March 31, 2011. This is up from revenues of $25.29 million for the nine months ended March 31, 2010. Net loss during the 2011 nine month period was $1.21 million, versus a loss of $19.84 million in the first nine months of the 2010 fiscal year. Gross margin was 52% for the 2011 nine month period, down from 60% in last year's first nine month period.
The number of shares that will be outstanding after the offering is 77,809,084 shares, which would put the market cap at $1.4 billion if the IPO prices at $18.
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