Davis Polk advised the underwriters in connection with an initial public offering of 25,000,000 shares of Class A common stock of Pure Storage, Inc. at $17.00 per share for gross proceeds of $425.0 million. 

In addition, the underwriters have a 30-day option to purchase an aggregate of up to 3,750,000 additional shares of Class A common stock from Pure Storage, Inc. to cover over-allotments, if any. Pure Storage’s Class A common stock is traded on the New York Stock Exchange under the symbol “PSTG.”    

Headquartered in Mountain View, California, Pure Storage creates all-flash systems optimized end-to-end for solid-state memory and designed to deliver data storage that transforms business through a dramatic increase in performance and reduction in complexity and costs. Pure Storage’s innovative business model replaces the traditional forklift upgrade cycle with an evergreen storage model of hardware and software upgrades and maintenance.   

The Davis Polk corporate team included partner Alan F. Denenberg and associate Stephanie Lai. Partner Frank J. Azzopardi and associate Kimberly (KyungEun) Won provided intellectual property and technology advice. Partner Rachel D. Kleinberg and associate Peter Benesch provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice. Associate Denise Yablonovich provided 1940 Act advice. Members of the Davis Polk team are based in the Northern California and New York offices.   

Copy link to share post