A South Weymouth, Mass.-based computer software publisher may go public to expand its business and repay debt, according to a filing with the Securities and Exchange Commission.
Software Developer’s Co. registered 600,000 common shares, which it may sell at $3.75 each for an aggregate of $2.25 million.
Software Developer’s markets programs used to design software for IBM and compatible personal computers through a publishing house and a mail order business operated by the company.
Bruce W. Lynch, the company’s chairman and major stockholder, will shrink his stake to 61% from 84.2% if all the shares are sold.
For the year ended March 31, Software Developer’s reported net income of $250,729 on sales of about $7.6 million.