Massachusetts-based Lantheus Medical Imaging announced today that it filed registration documents ahead of launching an initial public offering.
The company, which makes imaging agents and other diagnostic products, has yet to reveal share pricing or quantity, but set the maximum aggregate offering price at $125 million. Lantheus deals primarily in radiopharmaceutical and contrast agents, according to the prospectus summary.
Lantheus hopes to use the funds to redeem a portion of its outstanding senior notes due in 2017, planning to reserve the rest for "general corporate purposes." Lantheus plans to trade on the Nasdaq market under the symbol LNTH.
The news comes just a few weeks after Lantheus exited a federal tax evasion row. The company agreed to pay $6.2 million to settle allegations that the company and former parent Bristol-Myers Squibb schemed to avoid paying sales taxes.
Lantheus is joining the offering bandwagon amid a hot season, with one analyst calling this week the busiest for IPOs since 2004. More than 20 companies have filed for IPOs this month and 18 are set to price this week alone, according to Renaissance Capital IPO Center.
Several of the new players are biotech and life science firms, including sinusitis devices maker Intersect ENT, which filed registration papers earlier this week. Florida-based infusion pump maker iRadimed filed for a $12 million IPO last week.