Aeroflex files for IPO of about $250 million

(BestGrowthStock) – Aeroflex Holding Corp, which provides radio frequency and microwave integrated circuits for wireless communication systems, aims to raise about $250 million in an IPO, around half what it had planned in a preliminary prospectus filed in April.

The Plainview, New York-based company, which has Boeing Co (BA.N: ), Cisco Systems Inc (CSCO.O: ) and Raytheon Co (RTN.N: ) among its customers, said it plans to sell 17.3 million shares at $13.50-$15.50 each, and will use the proceeds to reduce its outstanding debt.

Aeroflex forecast a July-September net loss of $5.8 million, versus a $20.5 million loss a year earlier. Net sales are expected to have risen $25.8 million to $155.9 million.

Aeroflex was taken private in 2007 by funds affiliated with Veritas Capital Partners, Golden Gate Capital and Goldman Sachs, and certain managers.

Goldman Sachs, Credit Suisse, JP Morgan and Morgan Stanley are among the underwriters for the initial public offering, the company said in a regulatory filing.

The common stock will list on the New York Stock Exchange under the “ARX” symbol.

(Reporting by Sweta Singh in Bangalore, Editing by Ian Geoghegan)

Aeroflex files for IPO of about $250 million