Nimble Storage, a maker of flash-optimized hybrid data storage products, priced 8 million shares at $21, above its expected range of $18 to $20 a share, raising about $168 million. The underwriters have a 30-day overallotment option on 1.2 million additional shares, which would raise Nimble’s proceeds to around $184 million. The company plans to use its net proceeds from the IPO for general corporate purposes. The total number of outstanding shares after the IPO is about 71.5 million, setting Nimble’s market cap at about $1.5 billion.
The company does have its work cut out for it, attacking a sector dominated by names like EMC Corp. (NYSE: EMC), NetApp Inc. (NASDAQ: NTAP), Hewlett-Packard Co. (NYSE: HPQ) and Dell. Nimble noted in its Form S-1 filing that NetApp has sued the company and some of its employees for violating NetApp’s proprietary rights. Nimble’s CEO was a senior vice-president at NetApp before he left in 2008 to join another firm.
Shares of Nimble were up more than 49% at $31.19 shortly before noon on Friday.
Cheniere Holdings issued 36 million shares of stock it its IPO, at a price of $20 a share. The amount of stock issued was boosted from 30 million when the IPO pricing was announced Thursday night. Underwriters have a 30-day option on an additional 5.4 million shares.
Cheniere Holdings’ sole purpose is to be a repository for the Cheniere Energy Inc.’s (NYSEMKT: LNG) holdings in Cheniere Energy Partners L.P. (NYSEMKT: CQP). Cheniere Energy ultimately will receive all the proceeds from the IPO.
Shares of Cheniere Holdings were trading at $19.40 before noon.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
