SCIENCE TECHNOLOGY
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Stock Offering: International Physical Systems Inc., a 3-year-old company that provides magnetic-resonance imaging services to the health-care industry, hopes to raise $4 million through an initial sale of stock to the public.
The company plans to offer 500,000 common share units at $8 each, according to a Securities and Exchange Commission filing.
The company said it will use the proceeds to redeem all of its Series-A preferred shares, retire debt and for working capital, according to the filing.
International Physical Systems has six magnetic-resonance imaging machines used in medical diagnosis, which the company transports to medical facilities anywhere from Santa Barbara to the Mexican border.
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