Lapis Technologies to price $10 million initial public stock offering

Aegis Capital assists in funding debt repayment, corporate purposes

By Devika Patel

Knoxville, Tenn., Dec. 14 - Lapis Technologies, Inc. will price a $10 million initial public offering of common stock with a 45-day greenshoe option, according to a Form S-1 filed Friday with the Securities and Exchange Commission. The company expects its shares will trade on the Nasdaq under the symbol "LPST."

Aegis Capital Corp. is assisting.

Proceeds will be used to expand sales and marketing efforts, increase product offerings and repay 8% debt that matures on March 1, 2014 and for working capital and general corporate purposes.

The company makes computers, tables and computer-based systems and instruments for the commercial, defense and aerospace markets. Its corporate offices are located in Emerson, N.J., and Or Yehuda, Israel.

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