Mirion Technologies files for $202.4 million IPO

(Reuters) - Radiation detection provider Mirion Technologies Inc (MION.O) plans to raise up to $202.4 million through an initial public offering and use the proceeds to mainly repay debt.

San Ramon, California-based company said it will sell about 7.8 million shares, while shareholders will offload about 3.2 million shares at an estimated price of about $16 each, it said in the filing with the U.S. Securities and Exchange Commission.

The company, which expects to receive $106.7 million from the offering, said it will use the proceeds to partly repay about $97.8 million borrowings from American Capital Ltd (ACAS.O) and its affiliates.

In August 2009, Mirion had applied to raise up to $100 million in an IPO.

After the offering, American Capital will own about 50 percent of Mirion's stock.

Mirion was formed in 2005 through the merger of several companies held by American Capital but operated separately.

The company has never made a profit till December 2009 and has an accumulated deficit of $103.3 million, it said in the filing.

For the six months to December, the company posted a loss of $6.1 million, compared with $8.4 million in the same period last year.

Mirion has applied to list its stock on Nasdaq Global Market under the symbol "MION."

The IPO's lead bookrunners will be Credit Suisse (CSGN.VX), Bank of America Merrill Lynch (BAC.N) and J.P. Morgan (JPM.N).

(Reporting by Archana Shankar in Bangalore)