AutoGenomics IPO to watch: AutoGenomics has once again made an IPO (initial public offering) program, in order to raise funds of $65 million.
AutoGenomics Inc is a molecular diagnostic equipment manufacturer. According to the financial data released in the regulatory filing, AutoGenomics posted a net income of $459,000 on revenue of $8.69 million.
The company had proposed to raise $86.3 million through an IPO in May 2011 IPO, but the program with a three-year preparation failed. The Company said on September 27 that it plans to use the net proceeds from the sale of stock in AutoGenomics IPO to enhance the strength of its sales department and boost the expansion of sales networks in the global market. In addition, AutoGenomics also intends to use the funds to enhance the company’s marketing and business development capabilities.