Lantronix Inc., which makes technology that connects devices to the Internet, plans to sell 6 million shares of common stock, according to regulatory documents filed Thursday.
The Irvine company said it plans to use the proceeds from the offering for acquisitions and investments, working capital and general corporate purposes, including research and development.
An additional 3 million shares are being sold by investors. The company will not receive any proceeds from this sale, according to documents filed with the Securities and Exchange Commission.
After the offering, there will be about 49.2 million shares outstanding in the company, the filing noted.
Lantronix shares closed at $8.40, up 11 cents, on Nasdaq.
The underwriters are Lehman Brothers, UBS Warburg LLC, Needham & Co. Inc., Gerard Lauer Mattison and Fidelity Capital Markets.