Precision Robots Inc, the Billerica, Massachusetts, maker of factory automation systems filed with the Securities & Exchange Commission an initial public offering of up to 2m shares, of which 1.79m will be new, at a target price of between $8 and $10. It wants the $13m or so net proceeds to expand sales and marketing and working capital. Underwriters are Robertson Stephens & Co and Hambrecht & Quist.
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