Lantronix Aims for $123-Million IPO

Lantronix Inc., whose technology enables snack food companies to monitor vending machines via the Internet, set its initial public offering Friday at 9 million shares in a projected range of $14-$16 per share. The Irvine company said it expects to net about $123.8 million from the IPO, according to an amended prospectus filed with the Securities and Exchange Commission. Lantronix plans to use the net proceeds for working capital and general corporate purposes, including research and development and acquisitions, the company said. The company has applied to trade its shares on Nasdaq under the symbol LTRX.