Madison tech firm files for IPO
By RICK ROMELL
Posted: Feb. 12, 2007
TomoTherapy Inc., one of the state's most promising young tech firms, Monday filed to sell stock to the public.
The Madison company, maker of a highly precise system for treating cancer with radiation, is seeking to raise up to $201.3 million in an initial stock offering. The share price and number of shares to be offered haven't been determined.
The IPO could enhance the prospects of a 7-year-old firm that already has grown to 500 employees, developed markets in the U.S. and abroad, and raised more than $40 million in several rounds of private financing.
Company executives are limited in what they can say while the offering is pending. But the firm's plans, and its financial performance of the last few years, are laid out in a prospectus filed Monday with the U.S. Securities and Exchange Commission.
TomoTherapy would use money raised in the stock sale to strengthen its marketing, increase research, expand international service and support, and other general corporate purposes.