Deal Details
Initial Public Offering
Summary
Baird served as a co-manager on this offering.
About
Violin Memory, Inc. (“Violin Memory” or the “Company”) (NYSE: VMEM) recently completed an initial public offering of 18,000,000 shares of common stock at a price of $9.00 per share, generating gross proceeds of $162.0 million. Violin Memory intends to use the net proceeds from the offering for working capital and general corporate purposes, including repayment of all outstanding debt and expansion of the Company’s sales and marketing efforts.Violin Memory is pioneering a new class of high-performance flash-based storage systems that are designed to bring storage performance in-line with high-speed applications, servers and networks. Violin Flash Memory Arrays are specifically designed at each level of the system architecture starting with memory and optimized through the array to leverage the inherent capabilities of flash memory and meet the sustained high-performance requirements of business critical applications, virtualized environments and Big Data solutions in enterprise data centers. The Company’s solutions enable customers to realize significant capital expenditure and operational cost savings by simplifying their data center environments. Founded in 2005, Violin Memory is headquartered in Santa Clara, California.
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- Date
- October 2013
- Company
- Violin Memory, Inc.
- Transaction
- M&A
- Sectors
- Technology & Services
- Target Geography
- North America
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