Thursday, January 27, 2011
Nexsan Updates S-1
In a sign that Thousand Oaks-based Nexsan might be ramping up its IPO efforts again, after a delay last year, the firm filed an updated S-1 this week. The provider of data storage equipment reported that it had net income of $0.5M on $68.9M in revenues for the year ended June 30, 2010, and $1.7M in net income of $19.28M in revenues for the three months ended September 30, 2010. Year to year revenues were up from the $60.89M the firm reported for its year ended June 30, 2009. Nexsan is looking to raise up to $69.0M on the NASDAQ Global Market as NXSN. The firm now lists its underwriters as Piper Jaffray, William Blair & Company, and Needham & Company, LLC. Nexsan had delayed its public offering in April of last year. The firm is a developer of storage arrays used by the enterprise market.