Interlink Sells Out Initial Public Offering

Interlink Electronics Inc., a producer of touch-sensitive devices that moved from Carpinteria to Camarillo in May, did better than expected in its initial public offering.

Early in June, Interlink sold out its offering of 1.35 million units at $5.50 each. That totaled $7.4 million and netted the company $6.4 million after expenses. Each unit represents a common share and a warrant to buy another share.

The underwriter, Denver-based Cohig & Associates, last week exercised an option to buy an additional 202,000 units for $1 million, bringing the total net amount raised by Interlink to $7.4 million.

“Needless to say, we were pleased at the response,” said Paul D. Meyer, Interlink’s controller.

He said that all 50 employees formerly based in Carpinteria made the move to Ventura County, and that several more people have been hired since the move.

Interlink plans to use most of the proceeds from the offering to fund production of IBM-compatible computer pointers.