nLight, a Vancouver, Wash.-based maker of high-powered lasers which are used in aerospace, defense and manufacturing, updated its IPO filing on Monday with new details.
The company plans to issue 5.4 million shares of common stock at $13 to $15 per share, looking to raise as much as $81 million at the high end. It has granted its underwriters an option to buy up to an additional 810,000 shares of common stock. nLight will trade on Nasdaq under the ticker “LASR.”
Founded in 2000, nLight employees more than 1,000 people worldwide. It posted revenue of $138.6 million in 2017, turning a profit of $1.8 million. That compared to revenue of $101.3 million and a net loss of $14.2 million in 2016.
nLight boasts more than 300 customers, including Samsung, Raytheon and BAE, with 66 percent of its business is generated outside of the U.S.
Menlo Ventures holds a 21.5 percent stake in nLight, followed by Oak Investment Partners with a 20 percent stake and Mohr Davidow which holds 18 percent. Keeney holds a four percent stake
nLight first filed for its IPO on March 30. It’s the latest company with Washington state roots to file to go public this month, joining electronic signature powerhouse DocuSign and enterprise software maker Smartsheet, which also updated its IPO filing on Monday.
While the Seattle area has seen a number of public offerings and IPO filings in recent years, this would mark the first public offering by a company from the Portland metro area in more than a decade, according to The Oregonian.