Fusion-io raises $233 million in IPO

SALT LAKE CITY – Fusion-io Inc., a maker of data-storage devices that rely on flash memory that can be used for large data networks, outperformed expectations Thursday when it made its initial public offering on the New York Stock Exchange.

Fusion-io (NYSE: FIO) is based in Salt Lake City, Utah, and is setting up a large research facility in Superior.

The company was founded in 2006 and has received the backing of Apple Inc. cofounder Steve Wozniak, who is Fusion-io’s chief scientist. The company’s largest client is Facebook.

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Fusion-io issued 12.3 million shares of common stock at a price of $19 per share. A total of 10,755,607 shares are being offered by Fusion-io, and a total of 1,544,393 shares are being offered by selling stockholders. The value of the IPO was $233.7 million.

The stock opened at $25 per share but fell to $22.70 at 11 a.m.