CoLabs Int’l, which makes skin care products designed to limit unwanted chemical absorption, filed on Monday with the SEC to raise up to $6 million in an initial public offering.
The company plans to raise $6 million by offering 1.3 million shares at a price range of $4 to $5. At the midpoint of the proposed range, CoLabs Int'l would command a fully diluted market value of $201 million. The IPO float represents just 3.8% of basic shares outstanding.
Operating through the Klenskin brand, CoLabs develops and manufactures topically applied drugs and cosmetic products that are intended to limit unwanted side effects that can occur as a result of uncontrolled absorption of chemicals through the skin. The company's current applications include anti-bacterial/viral sanitizers/soaps, sunscreens, pest-repellents, and healing cosmetic lotions.
The Huntington Beach, CA-based company was founded in 2008 and plans to list on the Nasdaq under the symbol CLLB. Craft Capital Management and R.F. Lafferty & Co. are the joint bookrunners on the deal.
