SANTA ANA — MotorVac Technologies Inc., manufacturer of a proprietary automotive fuel system cleaning process, has filed for an initial public offering of 1.1 million shares of common stock.
Lee Melody, president of the 3 1/2-year-old company, declined comment because the Securities and Exchange Commission is still reviewing the filings. He said MotorVac has not prepared a prospectus for the stock sale. In its application to the SEC, the company said it hopes to price the shares at $5 to $7 each and that Meridian Capital Group would underwrite the offering. No offering date has been set for the stock, which would be traded on the Nasdaq Small Cap market.