AIM Technology Inc.: The recently formed subsidiary...
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AIM Technology Inc.: The recently formed subsidiary of Helionetics Inc. said Tuesday it has filed a registration with the Securities and Exchange Commission to sell stock to the public.
The company proposed a $7.5 million initial public offering of 2.5 million common shares at $3 each. Net proceeds would be about $6.23 million. After the stock offering, there would be 10 million common shares outstanding, of which Helionetics would own about 62%.
The underwriter for the proposed stock offering is Strasbourger, Pearson, Tulcin, Wolff Inc. in New York.
AIM Technology was formed as a holding company to monitor and provide support services to two Helionetics subsidiaries: AIM Energy Inc. and KSW Inc. Of the proceeds of the stock sale, $5 million would be used as capital for AIM Energy, the company said.
Helionetics, based in Irvine, is a lighting fixture and computer add-on products company.
