Fusion-io, an enterprise storage company formerly known as Fusion Multisystems, has increased its planned flotation to $212.2m from $150m after switching to New York from listing on the Nasdaq stock exchange.
Fusion-io will issue 10.76 million shares with its owners selling 1.5 million at up to $15 each, before 1.85 million shares can be sold if demand is strong enough.
The company would be worth $1.bn in its market capitalisation at the top end of the range.
Investment banks Goldman Sachs, Morgan Stanley, JP Morgan and Credit Suisse are underwriting Fusion-io’s initial public offering, according to its regulatory filing.
Fusion-io raised $45m in its series C round in April last year from venture capital firms Meritech Capital Partners, Accel Partners, Andreessen Horowitz, New Enterprise Associates (NEA) and Triangle Peak Partners.
Its $47.5m B round in April 2009 included Dell Ventures and Sumitomo Ventures, two corporate venturing units, as well as Lightspeed and NEA, which are the only two financial investors with more than 5% of Fusion-io.
Samsung, a South Korean conglomerate, was also reported as having taken a strategic stake in the company.
Facebook, a US social network, is Fusion-io’s largest customer, accounting for 47% of revenue in the nine months ended March 31.