New Image Stock Sale Brings in $6.5 Million
New Image Industries has raised $6.5 million in an initial stock offering of 1 million shares.
New Image, based in Canoga Park, makes computer imaging systems and software for the beauty, clothing, architectural, landscape and interior design industries.
The company said money raised from Thursday’s offering would be used to repay debt, open sales and training facilities, develop new products and expand the business. H. J. Meyers & Co. was underwriter for the offering.