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Business

Electronics maker in public offering

Aeroflex workers in Plainview. (May 3, 2006)

Aeroflex workers in Plainview. (May 3, 2006) Photo Credit: Newsday, 2006 / Audrey C. Tiernan

The Plainview-based electronics maker Aeroflex Holding Corp., which went private less than three years ago, went public again Friday.

Listed on the New York Stock Exchange under the symbol ARX, its initial public offering of 17.25 million shares opened slightly below its announced $13.50 price, but reached that amount at closing.

Reuters reported that shares of Aeroflex opened 6.1 percent below the $13.50 IPO price, then traded up in early afternoon but reversed course to close flat in their debut.

The company had signaled its intent to go public in a Securities and Exchange Commission filing earlier this year, saying much of the money it raises would go toward paying off "substantial indebtedness".

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