Violin Memory, which manufactures enterprise flash memory arrays, announced terms for its IPO on Monday. The Mountain View, CA-based company plans to raise $162 million by offering 18.0 million shares at a price range of $8 to $10. At the midpoint of the proposed range, Violin Memory would command a fully diluted market value of $877 million.
Violin Memory, which was founded in 2005 and booked $95 million in sales for the 12 months ended July 31, 2013, plans to list on the NYSE under the symbol VMEM. Violin Memory initially filed confidentially on September 18, 2012. J.P. Morgan, Deutsche Bank, BofA Merrill Lynch and Barclays are the joint bookrunners on the deal.
