Fan Marketer to Raise up to $2.5 Million With Stock

Beverly Hills Fan Co., a North Hollywood-based marketer of ceiling fans, hopes to raise up to $2.5 million with an initial public offering of stock.

In a filing with the Securities and Exchange Commission, the company said it plans to offer 833,334 shares for about $3 each, representing about 31% of Beverly Hills Fan after the offering is completed.

The company, which earned $326,800 on sales of $3.81 million in the nine months that ended July 31, sells about 40% of its fans to The Home Depot, a chain of home-improvement stores. Most of Beverly Hills Fan’s products are made in Taiwan.

Beverly Hills Fan plans to use the offering’s proceeds to retire debt, acquire more inventory and for general expansion. The offering is being underwritten by A.M. Levine & Co.