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IPG Photonics IPO Set for This Week
Dec 2006
IPG Photonics Corp., a maker of fiber-optic lasers and signal amplifiers, said it expects to raise about $81.8 million in its initial public offering this week and plans to use much of the proceeds to repay debt, the Associated Press (AP) reported today. IPG is offering 9 million shares at an expected price range between $13.50 and $15.50 each, the AP reported, and the anticipated proceeds are based on the midpoint of this range. IPG said it plans to use $22.1 million of the proceeds to repurchase warrants for series B preferred stock, and to use nearly $30 million to repay loans and credit facilities from a variety of sources, the AP said. Private equity firm TA Associates Inc., which beneficially owns 2 million of IPG's series B preferred stock, will own 9.5 percent of the company's shares after the IPO is completed; TA will reportedly receive about $11.6 million of the proceeds of the offering from the buybacks. IPG's shares are expected to trade under the symbol "IPGP" on the Nasdaq. The underwriters for the offering are Merrill Lynch, Lehman Brothers, Needham & Co., Jefferies & Co. and Thomas Weisel Partners.

The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
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