Proto Labs Inc. (NYSE: PRLB) has priced its initial public offering of 4.3 million shares of common stock at $16.00 per share. Investors should consider this as one of the stronger pricings because the price talk just on Tuesday was $13.00 to $15.00 per share. It is an above the range IPO price.
The company’s site description is as follows: “Proto Labs is the world’s fastest source for custom CNC machined parts and injection molded parts. With our Firstcut and Protomold services, you get real materials, real functionality, and real value in as fast as one business day.”
Jefferies and Piper Jaffray were the lead underwriters as the book-runners; co-managers are William Blair and Craig Hallum. The underwriters were given an overallotment option to of up to 645,000 shares at the same terms less fees and commissions.
The company has grown its total revenue from $35.9 million in 2007 to $98.9 million in 2011. At the same time, it has grown its income from operations from $8.4 million in 2007 to $26.9 million in 2011.
JON C. OGG
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