Feeds

Nexan hopes to get rich off Beast and Boy wonders

$81m SATA IPO to SEC

Remote control for virtualized desktops

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." ®

Intelligent flash storage arrays

More from The Register

next story
The cloud that goes puff: Seagate Central home NAS woes
4TB of home storage is great, until you wake up to a dead device
Azure TITSUP caused by INFINITE LOOP
Fat fingered geo-block kept Aussies in the dark
You think the CLOUD's insecure? It's BETTER than UK.GOV's DATA CENTRES
We don't even know where some of them ARE – Maude
Want to STUFF Facebook with blatant ADVERTISING? Fine! But you must PAY
Pony up or push off, Zuck tells social marketeers
Oi, Europe! Tell US feds to GTFO of our servers, say Microsoft and pals
By writing a really angry letter about how it's harming our cloud business, ta
BOFH: WHERE did this 'fax-enabled' printer UPGRADE come from?
Don't worry about that cable, it's part of the config
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
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?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.