AutoGenomics, which provides a molecular diagnostics system for genetic testing in clinical laboratories, refiled on Tuesday with the SEC to raise up to $60 million in an initial public offering.
The company last tried to go public in February 2013, when it set terms to raise $60 million at a $188 million market value, before postponing and eventually withdrawing last November. AutoGenomics first filed for an $86 million IPO in 2008, but withdrew its submission in 2011.
Primary shareholders include investor Dennis Repp (15% pre-IPO stake), founder, Chairman and CEO Fareed Kureshy (12%) and Director Adam Levinson (6%) of Fortress (FIG).
The company's net revenue increased 7% to 11 million during the six months ended June 30, 2014. Its operating income swung positive to $400,000 from a loss of $2.5 million in the prior year period.
The Vista, CA-based company, which was founded in 1999 and booked $19 million in sales for the 12 months ended June 30, 2014, plans to list on the NASDAQ under the symbol AGMX. AutoGenomics initially filed confidentially on August 11, 2014. Stifel, Canaccord Genuity and Cantor Fitzgerald are the joint bookrunners on the deal. No pricing terms were disclosed.
