Lantronix Plans $115-Million Stock Offering

Lantronix Inc., whose technology enables snack food companies to monitor vending machines via the Internet without having to send someone out to check them, plans to offer stock to the public.

The Irvine company is looking to raise $115 million, using the net proceeds for working capital and general corporate purposes, including research and development and acquisitions, according to a document filed with the Securities and Exchange Commission.

Lantronix did not disclose how many shares of common stock are being offered or their price range.

The company has applied for a Nasdaq listing under the symbol “LTRX.”

The company develops network device servers that enable nearly any electronic device to be accessed over the Internet and other networks, giving users instant access to information and reducing labor costs.

By linking the vending machine to the Internet with device server technology, for example, “the vending machine could automatically monitor its inventory and operational status, send purchase orders to suppliers and request maintenance visits as needed,” the company said.

The vending machine also could adjust prices automatically and even process credit card payments instead of requiring cash. In addition, it could track consumer preferences.

A leading provider of hand-held blood analyzing equipment uses the technology to let doctors get information at a patient’s bedside instead of sending blood to a lab, Lantronix said.

Underwriters for the initial public offering are Robertson Stephens, Donaldson Lufkin & Jenrette and DLJdirect.