Home / FINANCE / Markets / A storage startup called off a $109 million IPO a night before it was scheduled to debut

A storage startup called off a $109 million IPO a night before it was scheduled to debut


ken klein tintri ceo
Tintri CEO Ken
Klein

Tintri

Hours before a Wall Street debut, storage startup Tintri threw investors for a
loop on Wednesday night with a warn “change” of skeleton that
left the standing of a designed initial open charity in
question. 

The association did not yield an reason for a rarely unusual
move. 

While confirming to Business Insider that Tintri won’t begin
trade on a NASDAQ exchange on Thursday, a company
orator declined to explain because or to give any further
refurbish on its plans to go public. 

While companies sometimes delay or postpone skeleton for an IPO,
subsidy out of an charity on a eve of a inventory is very
rare.

The remarkable Tintri news called to mind the
scrapped IPO of AppDynamics in January, after networking
hulk Cisco swooped in and acquired a association for $3.7 billion
during a eleventh hour. In a box of Tintri however, there were
no evident reports of an acquisition.

Tintri was seeking to lift $109 million in an IPO labelled between
$10.50 to $12.50 a share. The company’s
many new IPO filing request showed that it  is
experiencing mounting waste amid negligence revenue
growth. 

The Silicon Valley association has raised
$260 million in try collateral financing from investors
including New Enterprise Associates and Menlo Ventures. 

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