NLight expects shares to be $13 to $15 in IPO

Vancouver laser maker nLight expects to raise between $70 million and $81 million after it soon shares stock to the public.

The company plans to issue 5.4 million shares, according to a Monday filing with the U.S. Securities and Exchange Commission, and expects each share to fetch between $13 and $15.

Accounting for total shares outstanding — an extra 27.6 million shares will not be offered, according to the filings — the company could be valued between $430 million and $495 million.

Founded in 2000 by Scott Keeny, nLight announced plans March 31 to go public. It makes powerful and precise lasers designed for use in such industries as manufacturing and defense. Some experts peg sales in those sectors to grow from $2.3 billion in 2015 to $4.2 billion in 2020.

The overall laser market is estimated to be worth close to $10 billion, according to market research firm Strategies Unlimited.

NLight’s initial filings to go public revealed the company has grown in recent years. Revenues climbed from $101.3 million in 2016 to $138.6 million last year. Net income climbed from a $14.2 million loss in 2016 to $1.8 million in profit last year.

NLight employs more than 1,000 people around the world, with local offices in Vancouver and Hillsboro, Ore. The last Vancouver-headquartered company to go public was take-and-bake pizza company Papa Murphy’s in 2014.

When nLight goes public, it will be listed as “LASR” on the Nasdaq Exchange.