initial public offerings (IPOs) trading on American exchanges

Sunday, August 16, 2015

Flash storage vendor Pure Storage files for a $300M IPO

Enterprise flash storage provider Pure Storage, backed by some $531 million in investment capital and toting a $3 billion valuation, has filed paperwork with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO) later this year.

Pure Storage was founded in 2009 and has attracted a great deal of intrigue because of its combination of software and flash storage technology, which is reportedly faster and more efficient than older spinning disc drives.

Morgan Stanley and Goldman Sachs will act as lead book-running managers for the proposed offering. It competes with larger, established companies such as EMC Corp and NetApp Inc. Pure Storage, which didn’t indicate an exchange, plans to list under the ticker symbol PSTG.

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