NLight Photonics, a US-based laser technology producer backed by consumer electronics manufacturer Samsung, has filed for an $86.3m initial public offering on the Nasdaq Global Market.
Founded in 2000, nLight produces high-power semiconductor and fibre lasers. The company targets a wide range of verticals, with a core focus on the industrial, microfabrication and aerospace and defence sectors.
The company expects to use the proceeds for working capital and may also seek to make acquisitions of or investments in other businesses, though it has not entered any such commitments yet.
NLight has raised approximately $175m in total equity funding, according to its IPO filing.
Samsung Ventures, the corporate venturing arm of Samsung, is among its shareholders, though the details about its commitments could not be ascertained. It held more than 5% in stock ahead of nLight’s $28.8m series G round in April 2017, according to the IPO filing.
Menlo currently owns a 21.5% stake and Oak holds a 20% stake, while Mohr, Davidow Ventures owns 18.9%. Hadley Harbor Master Investors, an indirect subsidiary of Wellington Management Company, owns 12.1% and Greenover holds 5.8%.
NLight’s shareholders also include Osborne 2002 Living Trust, an entity affiliated with company director David Osborne.
Stifel and Raymond James are acting as lead book-running managers. Needham & Company, Canaccord Genuity and DA Davidson & Co are serving as co-managers.