Home Wealth  Money Fusion-io Trades Lower on Follow-On Offering

Fusion-io Trades Lower on Follow-On Offering

Posted: Nov. 23rd, 2011  |  By Forbes

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Data storage platform company Fusion-io () is seeing its shares decline today, with heavier than usual volume, after it priced a follow-on public offering.

The company said late yesterday it had price an offering of 8.84 million shares of common stock at $33 per share.

3 million of the shares are being offered by Fusion-io, while the remainder are being offer by selling stockholders.

Fusion-io will not receive any proceeds from shares sold by stockholders.

Underwriters have been granted the option to purchase an additional 1.3 million shares from the stockholders.

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