TRX Seeks About $37 Million In IPO

TRX Inc. estimated that it would raise $36.9 million after expenses in its proposed initial public offering, in which the company and a group of owners would each sell 3.4 million shares for $11 to $13 per share. 'We intend to use the proceeds from this offering for general corporate purposes, including working capital and capital expenditures,' TRX said in a filing yesterday with the Securities and Exchange Commission.