K-Swiss Stock Sale Could Raise $21.75 Million
K-Swiss Inc., an athletic footwear maker based in Pacoima, said it plans to offer 1.45 million shares of common stock in an initial public offering that could raise between $17.4 million and $21.75 million. The offering price is expected to be between $12 and $15 a share.
K-Swiss said it filed a registration statement concerning the offering with the Securities and Exchange Commission. Of the shares being offered, 335,000 will be sold by shareholders and the balance by the company, it said.
The company said it plans to use proceeds from the stock sale to repay borrowings and to increase working capital.
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