American Materials & Tech-nologies Corp., a Los Angeles maker of advanced composite materials, filed a registration statement June 11 to issue 2 million shares of common stock at $5-$6 each in an initial public offering. Paul Pendorf, president and chief executive officer, gave East Coast investors presentations beginning June 19. He said he planned a June 24 program in Los Angeles.
The stock will trade on Nasdaq's SmallCap Market and the Pacific Stock Exchange.
William Timmerman, chief financial officer, said completion of the offering will represent ``a new phase.''
The company will apply the proceeds to repay bridge financing of $3.3 million to Palomar Medical Technologies Inc., and to reduce debt by $1 million. Most of the balance will go to pursue acquisitions, according to company officials.
Steven Georgiev, a founder and chairman of American Materials, is chairman and chief executive officer of Palomar.
American Materials was formed in March 1995. It acquired Struc-tural Polymer Systems Inc. from the Montecatini unit of Italian conglomerate Montedison SpA on Dec. 20 for $4.9 million and renamed the subsidiary Culver City Composites Corp.
The plant in Culver City, Calif., produces advanced composite materials for aerospace, transportation, satellite communication and recreational applications.
About 30 percent of last year's sales were made to Boeing Co., primarily for composites for aircraft interiors, and General Elec-tric Co., mostly for composites with PMR-15 resin for high-temperature jet engine applications, the company said.
On a combined basis, American Materials and Culver City Com-posites lost $1.4 million on 1995 sales of $15.9 million, of which aerospace accounted for 78 percent.
For 1996's first quarter, the company reported a profit of $246,000 on sales of $5.3 million vs. a loss of $136,000 on sales of $4 million for the comparable 1995 quarter.