Violin Memory shares fall in market debut

Published on NewsOK Modified: September 27, 2013 at 11:29 am •  Published: September 27, 2013
Advertisement
;

Violin Memory Inc. shares fell sharply in the flash storage maker's market debut.

The Mountain View, Calif., company raised $162 million. It priced its initial public offering of 18 million shares at $9 per share. That was the midpoint of the expected range of $8 to $10.

Violin Memory Inc. shares fell $1.53, or 17.1 percent to $7.47 in midday trading Friday.

The stock is trading on the New York Stock Exchange under the symbol "VMEM".

The company has granted underwriters an option to buy up to 2.7 million additional shares to cover overallotments.


Advertisement


Trending Now



AROUND THE WEB

  1. 1
    Dave Chappelle Reveals Shockingly Buff New Look
  2. 2
    Peaches Geldof Funeral to Be Held on Easter Monday
  3. 3
    Mayor Who Fired Lesbian Police Chief Caught On Tape In Homophobic Tirade
  4. 4
    NBA commissioner wants to raise age limit to 20
  5. 5
    Dream guitars I wouldn't mind calling my own (34 Photos)
+ show more