Cambridge Display Technology, a developer of next-generation screens for consumer electronics devices, has filed for an initial public offering with the Securities and Exchange Commission.
Cambridge, England-based CDT filed late last week the basic IPO registration paperwork, a Form S-1. The company intends to use the net proceeds from the sale of shares for general corporate uses, such as working capital and expenditures. The company may also use a portion to acquire businesses, technologies or other assets or to repay any debt.
CDT is competing with Eastman Kodak in the market for a next generation display technology called organic light emitting diode screens. Because OLEDs don"t require a backlight, they consume less power and can result in thinner displays than liquid crystal displays, the current favorite. Materials in an OLED display emit light when an electrical current is applied.