DTM Corp. of Austin, Texas, has filed a statement of registration with the Securities and Exchange Commission relating to an initial public offering of 1.3 million shares of DTM common stock. Price of the IPO is expected to be between $11 and $13 a share. Through its proprietary and patented Selective Laser Sintering process, DTM is engaged in the development, design, manufacture, marketing and support of rapid prototyping and rapid tooling systems, including services and materials.
The firm is a majority-owned subsidiary of Akron, Ohio-based BFGoodrich Co. BFG currently owns 91.6 percent of the outstanding shares of DTM common stock.
Following completion of the IPO, assuming the underwriters' overallotment option is not exercised, BFGoodrich will own about 5.5 million shares of DTM common stock, or about 67 percent of the total shares outstanding.
Rapid prototyping involves creating a solid, three-dimensional model, prototype or tool insert directly from three-dimensional, computer-aided design data.
``The rapid prototyping industry is one that has seen tremendous growth over the past several years and the prospects for its future continue to look extremely good,'' Greg Logwinuk, vice president of finance and administration for DTM, said in a telephone interview.
Proceeds from the public stock offering - first announced May 21 - will be used to pay off existing long-term debt, invest in research and development of new products, finance DTM operations and expand its business.