VC-backed Violin Memory debuts IPO


Violin Memory has priced its IPO of 18,000,000 shares at $9 per share for a value of $162 million. The stock started trading Friday on the New York Stock Exchange under the ticker symbol “VNEM.” J.P. Morgan, Deutsche Bank Securities, EM Securities and BofA Merrill Lynch are underwriting the IPO, with Barclays serving as a joint book-running manager. Baird and Pacific Crest Securities are also co-managers. Based in Mountain View, Calif., Violin Memory, which is backed by SAP Ventures, Highland Capital Partners, Toshiba and Juniper Networks, is a provider of memory-based storage solutions.

PRESS RELEASE

Santa Clara, Calif. – September 26, 2013 – Violin Memory, Inc. (NYSE: VMEM), a provider of memory-based storage solutions, today announced the pricing of its initial public offering of 18,000,000 shares of common stock at a price to the public of $9.00 per share. All of the shares are being offered by Violin Memory. The shares are expected to begin trading on the New York Stock Exchange on September 27, 2013 under the symbol “VMEM”. In addition, Violin Memory has granted the underwriters a 30-day option to purchase up to an additional 2,700,000 shares of common stock at the initial public offering price to cover over-allotments, if any.
J.P. Morgan, Deutsche Bank Securities, and BofA Merrill Lynch are acting as lead joint book-running managers for the offering and Barclays is also acting as a joint book-running manager. Baird and Pacific Crest Securities are acting as co-managers. EM Securities is also an underwriter.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on September 26, 2013. 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 or jurisdiction 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.
The offering will be made only by means of a prospectus. Copies of the prospectus related to the offering may be obtained, when available, from
J.P. Morgan, Attention: Broadridge Financial Solutions
1155 Long Island Avenue, Edgewood, New York 11717
Telephone: 866-803-9204
Deutsche Bank Securities Inc.
Attn: Prospectus Department
60 Wall Street, New York, New York 10005
Telephone: 800-503-4611
email: [email protected]

BofA Merrill Lynch
222 Broadway, New York, New York, 10038
Attn: Prospectus Department
email: [email protected]
About Violin Memory, Inc.
Violin Memory is pioneering a new class of high-performance flash-based storage systems that are designed to bring storage performance in-line with high-speed applications, servers and networks. Violin Flash Memory Arrays are specifically designed at each level of the system architecture starting with memory and optimised through the array to leverage the inherent capabilities of flash memory and meet the sustained high-performance requirements of business critical applications, virtualised environments and Big Data solutions in enterprise data centres. Specifically designed for sustained performance with high reliability, Violin’s Flash Memory Arrays can scale to hundreds of terabytes and millions of IOPS with low, predictable latency. Founded in 2005, Violin Memory is headquartered in Mountain View, California. For more information about Violin Memory products, visit www.vmem.com.

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