Pure Storage has filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). The company expects to price 25 million shares within the range of $16 to $18, with an overallotment option for an additional 3.75 million shares. At the maximum price, the entire offering is valued up to $517.5 million. The company intends to list on the New York Stock Exchange under the symbol PSTG.

The underwriters for the offering are Morgan Stanley, Goldman Sachs, Barclays, Allen & Co., Pacific Crest, Stifel, Raymond James and Evercore.

The rights of the holders of Class A common stock and Class B common stock are identical, except for voting and conversion. Each Class A share has one vote, while each Class B share is entitled to 10 votes. Class B shares can also be converted into one share of Class A common stock.

Pure Storage delivers data storage with an increase in performance and with lower complexity and lower costs. Revenue growth and financial disclosures were as follows:

• Revenue increased from $6.1 million for the fiscal year ended January 31, 2013, to $42.7 million for the fiscal year ended January 31, 2014, and to $174.5 million for the fiscal year ended January 31, 2015, representing year-over-year revenue growth of 603% and 308% for its two most recent fiscal years.
• Revenue increased from $24.6 million for the three months ended April 30, 2014, to $74.1 million for the three months ended April 30, 2015, representing period-over-period growth of 201% for its most recent interim period.
• Its net loss was $23.4 million, $78.6 million, $183.2 million, $30.0 million and $49.1 million for the fiscal years ended January 31, 2013, 2014 and 2015, and the three months ended April 30, 2014 and 2015, respectively.
• For the fiscal year ended January 31, 2015, and the three months ended April 30, 2015, 77% and 79% of revenue was from the United States and 23% and 21% from the rest of the world.

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Also, just over 50% of the voting power in Class B shares is tied up with three venture capital firms: Greylock, Sutter Hill Ventures and Redpoint Ventures. The company said of itself:

Our innovative technology replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory. At the same time, our innovative business model replaces the traditional forklift upgrade cycle with an evergreen storage model of hardware and software upgrades and maintenance. Our next-generation storage platform and business model are the result of our team’s substantial experience in enterprise storage and web-scale infrastructure, as well as frustration with the industry’s status quo. This deep industry understanding led to the development of our three-part integrated platform: the Purity Operating Environment, our flash-optimized software, FlashArray, our modular and scalable all-flash array hardware, and Pure1, our cloud-based management and support. Our platform can deliver a 10X acceleration in business applications over legacy disk-based storage. It is also designed to be compatible with existing infrastructure, substantially more reliable and power and space efficient.