Pure Storage Raised $425 million in IPO, Shares Flop 6% in First Day of Trading

Pure Storage, Inc. began trading on the New York Stock Exchange (NYSE) under the ticker symbol PSTG after its initial public offering.

Barclays is the Designated Market Maker for the company’s stock.

Pure Storage CEO Scott Dietzen (second from right) rings the NYSE Opening Bell
to celebrate the company’s first day as a publicly-traded company.

(Photo: NYSE)

CEO Scott Dietzen, joined by members of Pure Storage’s leadership team, commemorated the company’s public debut by ringing The Opening Bell and visiting the trading floor to watch the stock open.

Pure Storage is an independent solid-state array vendor enabling the broad deployment of flash in the data center.

“The NYSE is proud to welcome Pure Storage to its growing community of technology innovators,” said NYSE president Tom Farley. “With its advanced flash storage technology and innovative business model, Pure Storage is seeking to transform businesses around the globe, by delivering speed, efficiency and cost savings to its customers. We congratulate the company on its public debut and look forward to many more milestones to come.”

Year-to-date, NYSE IPOs have raised over $14 billion in combined proceeds, which is 60% of all proceeds raised from qualifying U.S. IPOs. This total includes $2.7 billion in combined proceeds raised from tech IPOs, which represents 65% of all capital raised from tech IPOs.