Compellent Tech Sets IPO Terms

Compellent Technologies Inc., an Eden Prairie, Minn.-based provider of data storage and data management solutions, has set its IPO terms to six million common shares being offered at between $10 and $12 per share. It would have an initial market cap of approximately $356 million, if it prices at the high end of its range. Compellent plans to trade on the NYSE Arca under ticker symbol CML, with Morgan Stanley serving as lead underwriter. The company has raised around $53 million in total VC funding since 2002, from firms like El Dorado Ventures (21.4% pre-IPO stake), Crescendo Ventures (21.4%), Cargill Ventures (10.9%), Centennial Ventures (10.3%), Affinity Capital (6.6%) and Nomura International (5.5%).