Alien Tech Raising $144M

RFID maker Alien Technology is calling on private investors to raise $144 million, according to a regulatory filing.

The financing comes after the Morgan Hill, Calif.-based company nearly went public in the summer. Alien Tech had initially planned to sell 9 million shares of common stock at a price between $10 and $12 per share. The underwriters cut the offering price to $6 per share, but less than stellar demand compelled it to pull the offering, according to RFID Journal.

Some have suggested public buyers balked at Alien’s CFO, a former Rambus executive. But the offering may have failed just because of poor financials. Alien Tech reported a loss of $34.2 million on revenue of $9.9 million for the six-month period ended April 1, 2006, compared to a loss of $16.6 million on revenue of $11.1 million for the same period the year before.

Alien Tech reported a loss of $34.2 million on revenue of $9.9 million for the six-month period ended April 1, 2006, compared to a loss of $16.6 million on revenue of $11.1 million for the same period the year before.The company had raised $229 million from VCs before embarking on its current investment round. Details of the new round are available to PE Week subscribers.