The IPO wave in the tech industry continues. The latest entry headed for the public stage is Nimble Storage, a San Jose-based data storage platform provider targeted towards enterprise customers.
Compared to that other, highly buzzed-about IPO coming from Twitter, Nimble's fundraising goal is considerably smaller at $150 million.
Given the alterations with the Jumpstart Our Business Startups (JOBS) Act that came about earlier this year, Nimble could have actually kept that figure a secret (for a short while) given that the fundraising target was under $1 billion.
But Nimble identify itself as an "emerging growth company" under the JOBS rule, simply explaining "irrevocably elected not to avail ourselves of this exemption and, therefore, we will be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies."
Nevertheless, Nimble looks confident enough in its S-1 form, filed with the U.S. Securities and Exchange Commission on Friday.
According to the S-1, Nimble had $50.6 million for the six-month period ending July 31, with a net loss of $17.1 million.
But there are still a number of blanks on the form yet to be filled -- namely the initial stock price, the number of shares to be sold, and which stock exchange on which Nimble plans to be listed.
Goldman Sachs and Morgan Stanley have been tapped as lead joint book-running managers for the offering. Pacific Crest, William Blair, Stifel Nicolaus, Oppenheimer, and Needham will act as co-managers.
The imminent public debuts for Nimble, Twitter, and a host of other tech brands solidify analyst projections earlier this year that the tech IPO in general is poised for a comeback this year, fueled by stronger market growth and investor confidence.