MRV Communications Plans to Go Public

MRV Communications Inc., a Chatsworth manufacturer of semiconductor laser diodes and fiber-optic products used to transmit large amounts of information at high speeds, is planning to go public in an offering of units expected to raise about $4.7 million.

In a filing with the Securities and Exchange Commission, MRV said it plans to offer 425,000 units at between $10 and $12 apiece through underwriter Thomas James Associates Inc.

Each unit will consist of three shares of common stock and two warrants that entitle the holder to purchase additional shares.

In the three months that ended March 31, MRV had a profit of $103,000 on $800,000 in revenue. It said its net proceeds from the unit sale, expected to be about $4.15 million, would be used to develop products, repay debt and for working capital.