Thursday, June 9, 2011

Fusion-io Surges In Debut

Salt Lake City-based Fusion-io, the developer of solid state disk drives (SSD), surged in its IPO this morning, soaring as high as $29.65 a share, after pricing at $19.00 per share last night. The firm, whose flash-based memory devices are used in enterprise computing, debuted on the NYSE as FIO. The robust response to the firm's IPO came even after it priced above a $16.00 to $18.00 offering range, itself bumped from earlier this month. The firm raised $233.7M in the offering, providing huge returns for the firm's venture backers, Accel Partners, Andreessen Horowitz Fund, Dell Ventures, Lightspeed Ventures, Meritech Capital, New Enterprise Associates, Samsung, Sumitomo, and Triangle Peak Partners.