(By Balachander) Proto Labs Inc. (NYSE: PRLB) plans to sell $100 million of its shares via an follow-on offering, according to a filing with the U.S. Securities and Exchange Commission.
The filing did not show the number of shares the company intends to offer or pricing terms.
The company, which went public on February 2012 at $16 per share, expects that its portion of the offering will result in roughly $3.0 million in proceeds.
Maple Plain-based Proto Labs is an online and technology-enabled quick-turn manufacturer of custom parts for prototyping and short-run production.
For the nine months ended Sept. 30, 2012, Proto Labs had income from operations of $24.7 million on revenue of $92.4 million.
Proto Labs said it will not receive any of the proceeds from the sale of the shares sold by the selling shareholders.
The company plans to use the proceeds for working capital and general corporate purposes.
The joint book-running managers of the proposed offering will be Morgan Stanley & Co. LLC and Piper Jaffray & Co.
The stock traded 0.23 percent lower at $34.62 on Thursday. Over the past year, shares have been trading between $24.07 and $41.10.