July 29, 2011 / 10:35 AM / 7 years ago

UPDATE 2-Intermolecular files for $200 mln IPO

* Intends to list under the symbol “IMI”

* Backed by PE players Redpoint Ventures, CMEA Ventures (Adds details)

July 29 (Reuters) - Intermolecular Inc filed with U.S. regulators on Friday to raise $200 million in an initial public offering of its common stock.

The company develops proprietary technology and intellectual property through paid collaborative development programs with its customers, in the semiconductor and clean energy industries.

Intermolecular said it has engaged in paid programs for 17 customers, including GLOBALFOUNDRIES, SanDisk , and Toshiba .

The San Jose, California-based company told the U.S. Securities and Exchange Commission that it intends to use the proceeds from the offering for working capital and general corporate purposes.

Intermolecular, which was founded in 2004, is backed by private-equity players, including Redpoint Ventures, U.S. Venture Partners and CMEA Ventures.

The company which posted a net loss of $1.8 million on a revenue of $42.7 million for the year ended 2010, intends to list under the symbol “IMI”.

The company said Morgan Stanley, J.P. Morgan Securities and Barclays Capital would underwrite the IPO.

The filing did not state the number of shares the company planned to sell or their expected price.

The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO can be different. (Reporting by Tanya Agrawal and Kavyanjali Kaushik in Bangalore; Editing by Joyjeet Das)

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