Nexx $42-mn IPO to be priced between $5.20 — 7.00

SAN JOSE: Nexx Systems Inc, the Billerca-based fab tool company which has lined up plans to hit the equities market, has made public the pricing of its initial public offering at around $5.20 - $7.00 a share. Nexx has charted out its IPO plans with the value of the offer stated at $42 million.

The company, which has already applied to list its shares of common stock on the Toronto Stock Exchange under the NXS symbol, had posted net sales at $18.3 million for the year ended December 31, 2008, a loss of $8.5 million compared to $25.7 million recorded during the previous year.

With just 91 full-time employees, the company currently has under its portfolio two product platforms, such as Apollo, a second-generation sputter deposition system; and Stratus, an electrochemical plating system. The tools are geared for 3-D, chip, LED and other applications, said a report.

Nexx was established way back in 2001 after it had bought out Nimbus, and its first-generation sputter deposition equipment technology, from MKS Instruments Inc. The acquisition exercise seemed continuing when, in 2003, it bought out All-Wet Technologies.