LVPS MicroFacility to Make Stock Offer

LVPS MicroFacility Inc. said Wednesday it is planning a public stock offering to raise $5 million to get its manufacturing business off the ground.

Huntington Beach-based LVPS, which plans to make preconstructed manufacturing plants that can produce intravenous solutions in developing countries, plans to offer 625,000 shares of stock at $8 a share, according to a filing made with the Securities and Exchange Commission. The company would require each investor to buy a minimum of $20,000 worth of stock.

The funds would be used to complete the company’s first prototype plant and begin production.

“We decided to form a public company for the purpose of growing fast,” said Ross Boling, chief operating officer. “We basically want to get up as fast as we can to meet financial requirements to be on Nasdaq.”

LVPS was launched less than a year ago to manufacture and market what it calls the LVPS MicroFacility, a modular structure that produces IV solutions in large volumes. The plants would be disassembled, then shipped to the client for permanent installation.

So far, the company has accumulated more than $20,000 in debt for development costs as well as legal and filing fees for the SEC filing, Boling said.

Boling and other LVPS executives also are the principal owners of Huntington Beach-based Denex Corp., a private company that did the research and development for the IV manufacturing plants.

He acknowledged that it has been difficult for the company to get financing through a bank or venture capitalist.

The stock sale would be without an underwriter, and the company’s founders would retain a 49% stake.

They initially plan to sell shares directly and through a stock transfer company until they can be listed on Nasdaq, Boling said.