Feeds

Nexan hopes to get rich off Beast and Boy wonders

$81m SATA IPO to SEC

Next gen security for virtualised datacentres

Storage system maker Nexsan Technologies is taking the public leap, today proposing an $80.5m initial public offering to the US Securities and Exchange Commission.

Thousand Oaks, California-based Nexsan specializes in archive-class and power-saving SATA storage with its SEC filing. That figure, however, was mainly conjured to meet basic SEC filing obligations and may change as an actual IPO approaches.

Nexsan says it has no specific plans for the money and will direct the funds towards working capital and general corporate purposes. The company also says it may use the proceeds for potential acquisitions, although it currently has no commitments or agreements to do so.

The company ended fiscal 2007 with a $3m net loss on revenue of $49.8m. A year before, it reported a $5m loss on revenue of $42.8m.

The filing did not specify how many shares the company will sell or its price. Nexsan intends to list its common stock on Nasdaq under the symbol "NXSN." ®

The essential guide to IT transformation

More from The Register

next story
The Return of BSOD: Does ANYONE trust Microsoft patches?
Sysadmins, you're either fighting fires or seen as incompetents now
Microsoft: Azure isn't ready for biz-critical apps … yet
Microsoft will move its own IT to the cloud to avoid $200m server bill
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
Death by 1,000 cuts: Mainstream storage array suppliers are bleeding
Cloud, all-flash kit, object storage slicing away at titans of storage
Oracle reveals 32-core, 10 BEEELLION-transistor SPARC M7
New chip scales to 1024 cores, 8192 threads 64 TB RAM, at speeds over 3.6GHz
VMware vaporises vCHS hybrid cloud service
AnD yEt mOre cRazy cAps to dEal wIth
El Reg's virtualisation desk pulls out the VMworld crystal ball
MARVIN musings and other Gelsinger Gang guessing games
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?