IPG Photonics Corporation raised $187.3 million in its initial public offering at $54.30 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 450,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares will be used by IPG Photonics Corporation for for general corporate purposes and to fund capital expenditures and working capital requirements. The Company may also use some of the net proceeds for acquisitions of complementary businesses and technologies, although no such acquisitions are currently pending.
IPG Photonics Corporation (NASDAQ: IPGP) is the world leader in high-power fiber lasers and amplifiers. Founded in 1990, IPG pioneered the development and commercialization of optical fiber-based lasers for use in diverse applications, primarily materials processing. Fiber lasers have revolutionized the industry by delivering superior performance, reliability and usability at a lower total cost of ownership compared with conventional lasers, allowing end users to increase productivity and decrease operating costs. IPG has its headquarters in Oxford, Massachusetts, and has additional plants and offices throughout the world.