WASHINGTON, June 18 (Reuters) - ATX Group Inc., which provides location-based voice and data communication tools used in cars, said on Friday it plans to offer 5 million shares for between $14 to $16 a share in its initial public offering.
The company plans to use the net proceeds to repay a line of credit provided by its largest shareholder, to repay debt, and other general corporate purposes, according to an amended prospectus filed with the Securities and Exchange Commission.