newsminer.com

A local business that’s already made its claim to fame by having a product featured on the TV show “ER” has gone public — and, the president says, is the only Fairbanks company to be publicly traded.

APC Group Inc. went public Friday on the OTCBB, or Over the Counter Bulletin Board. Today is the first day the stock will be publicly traded. That makes APC — stock ticker symbol APCU — the only Fairbanks company to be offered to the public and one of about a half dozen in the state, President and CEO Ken Forster said.

He’s been working four years to offer shares to the public. Most time-consuming was the extensive Securities and Exchange Commission registration process and audits. That’s one of the requirements for companies offering shares on the OTCBB, which is not part of the better-known NASDAQ or New York exchanges.

As a company registered with the SEC and traded publicly, APC gains protection for its patent through stricter federal oversight to protect investors, Forster said. In return, audit and regulatory burdens increase.

Linda Mowery, an investment professional with Edward Jones, said companies typically go public to raise awareness and build capital. After an IPO — Initial Public Offering of stock — companies can grow with fresh funds or stock prices could stall.

Mowery said the public offering will probably make initial investors more comfortable.

For Forster, the public offering carried the exhilaration of a marathon’s finish line.

After securing a patent for the Arctic Leash — a retractable extension cord — in 2003, Forster struggled to find financial backing before connecting with willing investors in the community.

“Dreams really do come true, but it happened because of people,” he said.

APC offers two primary products. First is the Arctic Leash, which quickly evolved into fresh incarnations — the marine leash, boom leash and heavy equipment leash. Second is Medreel, a retractable cord unit that collects the multiple lines attached to most hospital beds into one solid, secure wrap. The Medreel was installed on hospital beds on the set of the TV drama “ER.”

The company’s Arctic Leash was featured in an episode of “Modern Marvels,” which airs on the History Channel.