Monday, November 27, 2006

Isilon Systems Sets IPO Terms

Seattle-based Isilon Systems, a developer of storage systems for the enterprise market, has set terms for its IPO. The firm said in a filing with the SEC on Friday that it is looking to offer 8,350,000 shares of its common stock at between $8.50 and $9.50 per share. Isilon is looking to raise up to $91.2M in an IPO under the symbol ISLN on the NASDAQ Global Market. The IPO is being underwritten by Morgan Stanley, Needham & Company, Merril Lynch & Co., and RBC Capital Markets.