Before last week
, we'd gone well over a year without discussing solid state storage purveyors Fusion-io
-- and their extremely expensive and expeditious
flash drives -- but things seem to have been ticking along just fine behind the scenes. While the company's unlikely to have sold many ioDrives to good old Joe Consumer, its upcoming IPO application features an impressive list of corporate clients, highlighted by Facebook, its biggest customer, IBM, HP, and Credit Suisse -- the latter using Fusion-io technology to speed up the mathematical alchemy of making money where there was none before. Taken together with strategic investments
from Samsung and Dell, these deals paint a rosy outlook for the Woz
-employing startup, however it's worth noting that profitability is still a decent way away. Fusion-io's rapid growth is costing it more than it's making at the moment, which is most likely to have catalyzed its current decision to go public and collect its biggest round of investments yet. Let's hope the investor prospectus includes a forecast for when things like the ioXtreme
might actually become affordable to non-millionaires, eh?
Fusion-io Files Registration Statement for Initial Public Offering
Salt Lake City, Utah – March 9, 2011 – Fusion-io, Inc. announced today that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering of shares of its common stock. The number of shares to be offered and the price range for the offering have not yet been determined.
Goldman, Sachs & Co. and Morgan Stanley & Co. Incorporated are acting as lead active joint book-runners for the proposed offering, and J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC are acting as passive joint book-runners.
The offering will be made only by means of a prospectus. A copy of the preliminary prospectus, when available, may be obtained from the offices of Goldman, Sachs & Co.,Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing email@example.com, or Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by phone at 866-718-1649, or by email at firstname.lastname@example.org.
A registration statement relating to the securities has been filed with the SEC but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction