Violin Memory, a developer of flash memory storage systems, priced its IPO at $9 per share and went public. The company now trades on the NYSE under the symbol VMEM.
Violin Memory has raised about $238 million in VC funding, including a $109.4 million round in 2012 that valued the storage provider north of $1 billion. Backers include Toshiba (which held a 14.4% pre-IPO stake) and Rationalwave Capital Partners (6.7%), among others. The company plans to use the proceeds for business purposes and to pay off all existing debt. Shares closed at $7.02 on their debut.