Proto Labs Inc. filed for an initial public offering of up to $100 million of its shares as the maker of low-volume custom parts looks to raise funds for working capital and other purposes.
The market for IPOs remains busy, with 11 deals on the calendar for this week. If they all manage to price, it would be the busiest week since November 2007.
Proto Labs didn't release further financial terms in its filing with the Securities and Exchange Commission. The $100 million figure is used to compute a registration, and such estimates often change later.
The company's customers typically order low volumes of parts because they need a prototype to confirm the form, fit and function of components of products under development, to support pilot projects or because the product will be released in a limited quantity.
For the quarter ended March 31, Proto Labs reported that its earnings soared to $2.4 million as revenue climbed 41% to $22.3 million.
The company has applied to list its stock on the Nasdaq Global Select Market under the symbol PRLB.
