Israeli company nets $46 million in IPO


An Israeli company raised $46 million dollars in an initial public offering on the Nasdaq stock exchange.

Voltaire Ltd., a maker of server and storage software for data networks, said it sold 5.77 million shares at $9 each in its Wednesday offering, Reuters reported.

The company, which trades under the symbol VOLT, said it intends to use the proceeds to fund research and development activities, repay debt, and acquire or invest in complementary companies, products or technologies.

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