NEW YORK (CNN/Money) - Leapfrog Enterprises Inc., a developer of technology-based educational toys which is controlled by Michael Milken and Oracle Corp.'s CEO Larry Ellison, filed Monday to raise $130.5 million through an initial public offering.

Leapfrog, which originally filed with the Securities and Exchange Commission in April to go public, plans to sell 9 million shares at $13 to $16 each via lead underwriters Merrill Lynch and Salomon Smith Barney. The company will trade under the New York Stock Exchange symbol LF.

Leapfrog gears its toys to help preschool through 8th grade children learn subjects such as math, phonics, spelling, history and music. The educational toy maker plans to extend its product line to reach high school students.

Emeryville, Calif.-based Leapfrog is a unit of Knowledge Universe, which is controlled by Oracle (ORCL: Research, Estimates) CEO Lawrence Ellison, Chairman Michael Milken and Vice Chairman Lowell Milken. Michael Milken is the financier who used high yield junk bonds to transform corporate takeovers in the 1980s and was later barred from the securities industry after pleading guilty to securities fraud and related charges in 1990. In recent years he has become known for philanthropic efforts.

After the IPO, Knowledge Universe will control 78.4 percent of the combined voting power of Leapfrog's Class A and Class B common stock and Series B preferred stock. Knowledge Universe will also control Leapfrog's stockholder voting power.