LONDON Powerline chip specialist Intellon Corp (Ocala, FL) is set to push ahead with an IPO that could value the company at nearly $330 million.
The company has filed amended documents at the U.S. Securities and Exchange Commission suggesting the startup would offer 7.5 million shares at between $9 and $11.
If the IPO proceeds at the middle of this price range, Intellon would raise nearly $68 million, which would be used for working capital, capital expenditures and other corporate purposes, including potential acquisitions.
Shareholders include Fidelity Ventures, EnerTech Capital Partners, Comcast Interactive Capital, Goldman Sachs, Summerhill Ventures and UMC Capital.
For the year ended 2006, the company posted a revenue of $33.7 million on net loss of $7.8 million compared with revenue of $16.6 million on net loss of 12.5 million in 2005.
The offering is being made through Deutsche Bank Securities, Jefferies & Company, Piper Jaffray and Oppenheimer & Co.
The underwriters will have the option to buy up to 1.1 million extra shares to deal with any overallotments.
In earlier filings, Goldman Sachs was listed as the lead underwriter, but the group is no longer backing the deal.