NOW WE KNOW WHY THEY KEEP PUTTING OFF THE PATENT LAWSUIT...
Digital film maker Lexar Media seeks $80 mln IPO
WASHINGTON, Feb 16 (Reuters) - Lexar Media Inc (NasdaqSC:LEXR - news), a maker of high-performance digital film and products to transfer the images to a personal computer, filed on Wednesday to raise as much as $80 million in an initial public offering.
The company's film is essentially a removable and reusable storage device and is compatible with most digital cameras, including those made by Canon, Kodak and Nikon, among others.
Its digital reader-writer products help users transfer the images to a computer through a cable connector that does not require a direct connection to the camera.
Additionally, consumers can now transfer images to Lexar Media's online printshop, located on the Internet at printroom.com, to receive high-quality prints via the mail, the Fremont, Calif.-based company said.
In the preliminary prospectus filed with the Securities andExchange Commission, Lexar Media did not state how many shares it planned to sell or for how much, details expected in future filings.
Eastman Kodak Co. (NYSE:EK - news) and Ingram Micro Inc. (NYSE:IM - news) are among its primary customers, according to the filing.
Lexar Media said it will like use the IPO proceeds for working capital, capital spending and to repay debt.
It had $29.2 million in revenue and registered almost $15.3 million in net losses in 1999, the filing showed.
The $80 million figure in the IPO filing was merely a basis for calculating the SEC registration fee, the company said. It has applied to trade its shares on Nasdaq under the symbol ``LEXR' (NasdaqSC:LEXR - news) once it goes public.
Chase H&Q, J.P. Morgan & Co., Prudential Volpe Technology and SG Cowen are among the underwriters. |
