The number of shares and the timing of the IPO has not been finalized, but the offering is expected to raise no more than $40.25 million, according to the S-1 registration. The filing is dated July 30, 2004, and states that certain affiliates of Kelso and certain affiliates of Hillman Capital would own over 40 percent and 20 percent, respectively, of the outstanding common stock immediately following the offering.

It is not clear what the future relationship will be between Cambridge Display Technology Ltd. and Cambridge Display Technology Inc., or whether CDT would also try to list on a the London Stock Exchange as part of a dual-listing.

The S-1 form filed with the U.S. Securities and Exchange Commission reveals that CDT made a net loss of $22.8 million on operating revenues of $10.7 million in 2003. CDT reported a net loss of $17.7 million in the first quarter of 2004 on revenues of $1.3 million.

The S-1 also states that CDT licensed STMicroelectonics and Plastic Logic Ltd. to make semiconductor driver circuits for polymer organic light-emitting displays. The licenses are in addition to Philips, Seiko Epson, DuPont, Sumitomo and Osram. In addition, CDT has has taken equity positions in MicroEmissive Display Ltd. and Plastic Logic Ltd.

Cambridge Display Technology, Plastic Logic, Philips and STMicroelectronics NV are at the center of a 24 million euro (about $29 million) project to develop nanometer-scale "smart" materials for use in plastic electronics. The Nanoscale Integrated processing of self-organizing Multifunctional Organic Materials project is funded by European Union under its sixth framework of collaborative research and development.

By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved