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Showing posts with label Soros Fund Management LLC. Show all posts
Showing posts with label Soros Fund Management LLC. Show all posts

Monday, April 24, 2017

Violin Memory (VMEM) acquired by Soros Fund Management LLC

  • CEO: Ebrahim Abbasi
  • Headquarters: Santa Clara, CA
  • Founded: 2005
  • www.violin-memory.com
  • Type of business: Private

  • Violin Memory's initial public offering in September 2013, raised $162 million at a price of $9 a share.  Its stock price dropped to $2 a share after its largest partner, Hewlett Packard, became a competitor and due to concerns of how quickly it was spending money.  The company experienced losses of $34 million the following year and the board called for the resignation of the CEO.

    The New York Stock Exchange de-listed Violin Memory shares in October 2016 because its market capitalization had fallen below $15 million.  A few days later it changed to be traded on the OTC Markets Group exchange OTCQX, using the same VMEM symbol.  In November 2016, it was valued at $3.7 million.

    On April 24 2017, Violin announced in a press release that they had emerged from bankruptcy, and had been purchased by Quantum Partners LP, a private investment fund managed by Soros Fund Management LLC.

    Key stats and ratios

    Q4 (Oct '16)2016
    Net profit margin-250.73%-194.76%
    Operating margin-227.00%-181.25%
    EBITD margin--164.15%
    Return on average assets-137.05%-62.49%
    Return on average equity--
    Employees235