NEW YORK — NEW YORK (AP) — Nimble Storage is planning to raise up to $150 million from an initial public offering of its common stock.
The San Jose, Calif., company, which designs and sells a data storage platform, did not disclose in a regulatory filing how many shares are expected in the IPO or what the projected price range is.
Nimble Storage Inc. said that it plans to use the offering's net proceeds for working capital and other general corporate purposes. It said that it may use part of the proceeds to acquire other complementary businesses or technologies. It pitches its flash-optimized hybrid data storage platform as the industry's most efficient.
For the year ended Jan. 31, Nimble's revenue totaled $53.8 million. The company reported revenue of $14 million in the previous year.
Nimble expects to trade on the New York Stock Exchange under the "NMBL" ticker symbol.