initial public offerings (IPOs) trading on American exchanges

Monday, April 24, 2017

Violin Memory (VMEM) acquired by Soros Fund Management LLC

  • CEO:  Ebrahim Abbasi
  • Headquarters: Santa Clara, CA
  • Founded: 2005
  • Type of business: Private

Violin Memory's initial public offering in September 2013, raised $162 million at a price of $9 a share.  Its stock price dropped to $2 a share after its largest partner, Hewlett Packard, became a competitor and due to concerns of how quickly it was spending money.  The company experienced losses of $34 million the following year and the board called for the resignation of the CEO.

The New York Stock Exchange de-listed Violin Memory shares in October 2016 because its market capitalization had fallen below $15 million.  A few days later it changed to be traded on the OTC Markets Group exchange OTCQX, using the same VMEM symbol.  In November 2016, it was valued at $3.7 million.

On April 24 2017, Violin announced in a press release that they had emerged from bankruptcy, and had been purchased by Quantum Partners LP, a private investment fund managed by Soros Fund Management LLC.

Key stats and ratios

Q4 (Oct '16)2016
Net profit margin-250.73%-194.76%
Operating margin-227.00%-181.25%
EBITD margin--164.15%
Return on average assets-137.05%-62.49%
Return on average equity--

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