Canada's IMRIS files for U.S. IPO

Mon Nov 8, 2010 6:56am EST
 

(Reuters) - Canada's IMRIS Inc IM.TO, which makes magnetic resonance imaging systems, on Monday filed with regulators for an initial public offering of its common stock in the United States.

IMRIS, currently listed on the Toronto Stock Exchange, said it plans to offer 10 million shares in the offering, while selling shareholders will offer 3.7 million shares. The filing did not reveal their expected price.

The company told the U.S. Securities and Exchange Commission in a preliminary prospectus that Canaccord Genuity, Lazard Capital Markets, Wedbush PacGrow Life Sciences, GMP Securities, RBC Capital Markets, Paradigm Capital Inc and Versant Partners were underwriting the IPO.

The Winnipeg, Manitoba-based company said its common stock has been conditionally approved for listing on Nasdaq under the symbol "IMRS."

IMRIS' shares closed at C$6.00 on Friday on the Toronto Stock Exchange.

(Reporting by Suzannah Benjamin in Bangalore; Editing by Anne Pallivathuckal)