Trading under the ticker symbol 'VOLT', the clustering firm made its Nasdaq debut this morning, following in the footsteps of a growing list of storage vendors. (See Netezza Closes IPO, Netezza Files for IPO, Double-Take Files for IPO, and Data Domain Closes IPO.)
Last night the vendor priced 5,770,000 shares at $9.00 per share, and expects to make net proceeds of $46 million from the offering, after an underwriting discount and offering expenses.
Unlike recent storage IPOs such as Data Domain, Double-Take, Isilon, Riverbed, and fellow InfiniBand vendor Mellanox, which all enjoyed brisk trading on their first day as a public company, trading in Voltaire's shares has been much less frenzied. (See Data Domain Goes Public, Quantum Gains on Rival's IPO, Data Domain Prices IPO, Double-Take, Isilon Go Public, Isilon Announces IPO, Riverbed Comes Out at $9.75, and Mellanox Exceeds IPO Hopes.) After opening at $9, Voltaire's shares were trading around $8.50 shortly after midday.
The shares closed at $8.33, down 7.44 percent from the $9 opening price.