Software Toolworks to Sell 1.5 Million New Shares
Software Toolworks said it hopes to raise up to $12.7 million through a public offering of 1.5 million new shares of common stock.
In a filing with the U.S. Securities and Exchange Commission, the Chatsworth-based company said the proceeds would be used for product development, and possibly to acquire other companies and product lines.
Software Toolworks produces educational and game software for computers.
The company also registered a total of 930,000 shares that are being issued to companies and individuals, including 329,200 to Chairman Les Crane. The company said those parties plan to sell the shares.
