Market sources: LIMS hopes to raise $30 million at a company value of $90-100 million.
Laboratory Information & Management Systems Ltd. (LIMS) (TASE: LIMS) has filed a draft prospectus with the US Securities and Exchange Commission (SEC) for an offering on Nasdaq. As a non-US company, LIMS opted for a non-public report, rather than a full one.
Market sources believe that LIMS hopes to raise $30 million at a company value of $90-100 million. JMP Securities LLC and Oppenheimer & Co. Inc. will apparently be the underwriters for the offering.
LIMS has a current market cap of $80 million on the Tel Aviv Stock Exchange (TASE).
In the draft prospectus, LIMS released preliminary figures for 2006 under US GAAP rules. Sales rose 22% over 2005 to $19.8 million, but the company’s operating profit fell to $4.9 million from $5.3 million, and its net profit rose by $150,000 to $3.8 million.
Published by Globes [online], Israel business news - www.globes.co.il - on February 18, 2007
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