Colorbus Inc. Plans Initial Public Offering to Raise $46 Million
IRVINE — Colorbus Inc., which makes computer network printer servers, is planning to offer stock to the public for the first time.
The company said it could raise $46 million before expenses, according to a statement filed with the Securities and Exchange Commission. The filing did not specify the amount or expected price of shares to be offered, however.
The maker of the Cyclone Imaging System, which manages use of high-quality color printers in computer networks, plans to use the sale proceeds for debt repayment and working capital, possibly including acquisitions, the filing said.
Colorbus Chairman Worth T. Probst is currently the top shareholder with a 30.6% stake. The filing did not specify what his stake would be after the offering.
