BILLERICA, MA -- BTU International, a maker of ovens for electronics and wafer assembly, has filed a public offering of stock to raise about $17.6 million. Proceeds from the 1.25 million-share offering will be used for general corporate expenses and possible acquisitions. 
BTU is in negotiations to buy intellectual property assets from an undisclosed company for $2 million in cash and stock, reported Bizjournals.com.

The company, whose stock was trading under $3 a share in July, reached a 52-week high of $16.90 last month. Insiders have divested themselves of 2.4% of their shares in the past six months, according to Computershare, an investor research firm.