New Image Seeks to Offer 1.1 Million Shares of Stock

New Image Industries Inc. of Canoga Park said it filed a registration statement with the Securities and Exchange Commission for an offering of 1.1 million shares of its common stock. Of the shares being offered, 1 million are being offered by the company, and 100,000 are being offered by shareholders. A company spokesman said he could not project the amount of money New Image will net, since the price of the stock could change before the offering becomes effective in late March.

New Image’s stock trades at about $12.25 a share.

New Image markets computer systems used by hairstylists, builders, cosmetic surgeons and weight-loss clinics to show clients before-and-after pictures. The company said proceeds from the offering will be used to open regional headquarters in Europe, to develop new products and possibly to finance future acquisitions.