PSTG News

In the last week of October, no companies filed for an IPO. October was a difficult month for IPOs: 16 companies went public, pricing an average of 22% below their midpoint. Despite the massive valuation cuts, the average IPO return was just 3.4%, while the return on the S&P 500...read more

Continuing the recent trend, four out of five deals priced below the range. This week, five companies raised $765 million, pricing an average of 19% below their proposed midpoints. All four deals that priced below traded up, popping 10% on average and ending the week up 12%; the one that priced in its range dropped 6% in its first day and ended the week down...read more

Pure Storage, which provides flash memory-based enterprise storage hardware, raised $425 million by offering 25 million shares at $17, the midpoint of the $16-$18 range. At its offer price, Pure Storage commands a fully-diluted market cap of $3.9 billion, and its $425 million offering is the largest for a VC-backed tech IPO this year. The company will list on the NYSE under the...read more

Adesto Technologies, a fabless provider of flash memory chips for OEMs of connected devices, announced terms for its IPO on Monday. The company claims its chips will take advantage of an industry shift toward the Internet of things (IOT). The Sunnyvale, CA-based company plans to raise $45 million by offering 4.1 million shares at a price range of $10 to $12. At the midpoint of...read more