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Here Are the Terms for Nutanix’s Long-Awaited Public Offering

September 19, 2016, 2:25 PM UTC
Courtesy of Nutanix

Nutanix set terms for its initial public offering, aiming to sell 14 million shares at $11 to $13 per share, according to documents filed with the Securities & Exchange Commission on Monday. The sale could raise $168 million at the mid range price up to $209.3 million for all 16.1 million shares sold. Some 2.1 million additional shares are available to underwriters at the mid-point price of $12 per share.

The San Jose, Calif.-based company filed for its IPO in December, but put it on hold pending better market conditions, which have apparently arrived.

But the company wasn’t idle in that time. It took a $75 million loan from Goldman Sachs (GS) in May, and earlier this month, Nutanix snapped up PernixData and Calm.IO to build out its portfolio. Goldman Sachs was already an investor and lead IPO advisor for Nutanix.

Nutanix (NUTANIX) blazed a trail for combining storage and computer servers in one unit. Those devices have traditionally been separate devices in their own sections of a data center with their own tasks and management issues. That approach is meant to ease management issues for corporate customers.

Since Nutanix launched in 2009, traditional hardware companies—including pre-split Hewlett Packard (HPQ), Cisco (CSCO), VMware (VMW), EMC (EMC)-backed VCE consortium—have also joined the converged hardware fray. A range of startups like Simplivity are also in the mix.

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The company has raised about $318 million in funding from Khosla Ventures, Lightspeed Venture Partners, InstantScale Ventures, and others.

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The tech IPO landscape has improved in recent months with Dell security spinoff SecureWorks (SCWX), fiber-optics player Acacia Communications (ACIA), and Twilio (TWLO) braving the public markets.

This story was updated to reflect that Nutanix initially filed its S-1 in December, not January and to add that the company is offering 2.1 million shares to underwriters.