Systems Engineering Laboratories, Incorporated
List of Deals
Systems Engineering Laboratories was located in Ft. Lauderdale, Florida, and incorporated in January 1961. In the first years of operation the firm designed and made components for data acquisition and processing systems. Later the firm began to produce digital computers for the high-speed acquisition and control of real-time data. The company’s sales grew rapidly from $1.0 million in 1962 to $5.3 million in 1965 to $6.2 million by 1966.
Systems Engineering went public in March 1966 through an offering of 240,000 shares at $4.50 per share. The proceeds from the sale were used to repay in full the mortgage debt incurred to finance construction of the company’s plant and to finance an extension to the company plant and warehouse.
Systems Engineering made a second public offering of 129,000 shares in November 1967 in a deal valued at over $5.7 million. Of the shares offered, 50,000 were sold by the company and 79,000 by certain stockholders. Proceeds from the company’s portion of the offering were used to retire debt and for additional working capital.