Fusion-io Wants To Sell More Of Its Shares – Up To $350 Million

Storage memory solutions company Fusion-io this morning announced that it has filed a registration statement with the SEC for a proposed follow-on public offering of shares of its common stock.

The company proposes to sell, from time to time, up to $350 million of its common stock, approximately $100 million of which would be sold by Fusion-io and the rest by its shareholders.

Fusion-io says the remaining shares will be sold by existing stockholders, including any shares issued to the underwriters to cover over-allotments.

According to the filing, Fusion-io will not receive proceeds from the sale by shareholders.

Founded in 2005, Fusion-io combines hardware and software to develop a storage memory platform, giving servers native access to data to accelerate enterprise databases and applications while reducing energy consumption. Apple co-founder Steve Wozniak is its Chief Scientist.

The company’s share price closed at $37.61 yesterday, but is down roughly 10 percent in pre-market trading. At present, Fusion-io’s market cap stands at $3.2 billion.