Fallbrook Technologies Files For IPO

San Diego-based Fallbrook Technologies, a developer of continuous variable transmissions aimed at the electric vehicle market, has filed for an IPO, saying Tuesday evening in a filing that it is looking to raise up to $50M in an offering. The IPO is being underwritten by CIBC and Mackie Research Capital. Fallbrook is venture backed by Robeco Group, NGEN Partners, and others. Fallbrook reported a net loss of $11.7M on reveues of $871,000 for the nine months ended September 30, 2009. For 2008, the firm had a loss of $11.9M on revenues of $2.28M.