Violin Memory shares fall in market debutSeptember 27, 2013 @ 9:29 am
(AP) - Violin Memory Inc. shares fell sharply in the flash storage maker's market debut.
The Mountain View, Calif., company raised $162 million. It priced its initial public offering of 18 million shares at $9 per share. That was the midpoint of the expected range of $8 to $10.
Violin Memory Inc. shares fell $1.53, or 17.1 percent to $7.47 in midday trading Friday.
The stock is trading on the New York Stock Exchange under the symbol "VMEM".
The company has granted underwriters an option to buy up to 2.7 million additional shares to cover overallotments.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Russell Wilson gets drafted by baseball's Texas Rangers
The legal marijuana industry might make a lot of cash, but there's nowhere to deposit
The Holiday Map
Find Santa photos, tree farms, lights & seasonal events with our holiday map
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.