1997 Orbit/FR Inc. hopes to raise up to $15.13 million in an ini

Tuesday, April 15, 1997
Orbit/FR Inc. aims to raise $15 million in initial public offering
Philadelphia Business Journal
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Orbit FR Inc.
Nine months after acquiring Horsham-based Flam & Russell Inc., Orbit/FR Inc. hopes to raise up to $15.13 million in an initial public offering of 2 million shares of common stock. According to a prospectus filed with the Securities and Exchange Commission, Orbit/FR would use $800,000 of the proceeds to pay the cash portion of a pending $1.6 million acquisition of a California company, Advanced Electromagnetics Inc. The rest would be used for general corporate purposes. Orbit/FR of Horsham develops automated microwave test and measurement systems for the wireless communications, satellite, automotive and aerospace/defense industries.



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