Plasma & Materials Plans Stock Offering

Plasma & Materials Technologies Inc. has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of 2.5 million shares of its common stock.

The offering is expected in late August at an estimated range of $9 to $11 per share, the company announced.

Salomon Brothers will be the lead manager of the underwriting group and Unterberg Harris will act as co-manager.

Plasma & Materials Technologies develops and markets semiconductor and flat panel display manufacturing equipment. The company’s equipment uses a proprietary plasma processing technique that enables customers to manufacture advanced integrated circuits.

Proceeds from the offering will be used for working capital, including investment in evaluation systems, expansion of operations, continuing research and development and capital expenditures.