Tintri (TNTR) IPO Opens Fractionally Higher

June 30, 2017 10:30 AM EDT

Today's IPO for Tintri, Inc. (NASDAQ: TNTR) opened for trading at $7.12 after pricing 8,572,000 shares of its common stock at a public offering price of $7.00 per share.

The book-running managers of the proposed offering are Morgan Stanley & Co. LLC, BofA Merrill Lynch and Pacific Crest Securities, a division of KeyBanc Capital Markets Inc. Needham & Company LLC, Piper Jaffray & Co., Raymond James & Associates, Inc. and William Blair & Company L.L.C. are acting as co-managers.

Tintri offers an enterprise cloud infrastructure built on a public cloud-like web services architecture and RESTful APIs. Organizations use Tintri all-flash storage with scale-out and automation as a foundation for their own clouds - to build agile development environments for cloud native applications and to run mission critical enterprise applications. Tintri enables users to guarantee the performance of their applications, automate common IT tasks to reduce operating expenses, troubleshoot across their infrastructure, and predict an organization’s needs to scale - the underpinnings of a modern data center.

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Piper Jaffray, William Blair, KeyBanc, Raymond James, Morgan Stanley, Needham & Company, Pacific Crest Securities, IPO