Starlims Technologies Files for IPO
WASHINGTON (AP) — Starlims Technologies Ltd., an Israeli company that provides laboratory information management systems, registered Friday for an initial public offering of up to $37.4 million in stock.
The company said it plans to sell 2.1 million ordinary shares in the IPO at a per-share price of $13.50 to $15.50, according to the filing with the Securities and Exchange Commission.
Starlims intends to use net proceeds from the IPO for general corporate purposes, including working capital and capital expenditures. It may also use a portion of the proceeds for the acquisition of companies, technologies or products.
For the first quarter ended March 31, Starlims reported net income of $1.1 million, up from $182,000 in the 2006 first quarter.
The company plans to list its ordinary shares on the Nasdaq Global Market under the symbol LIMS.
Oppenheimer & Co. and JMP Securities were listed as the underwriters for the offering. The underwriters also have an option to purchase up to an additional 315,000 shares to cover overallotments, the filing said.
