Software Toolworks Plans to Offer 2 Million Shares
Software Toolworks said that it plans to sell about 2 million additional common shares and that certain of its existing stockholders also plan to sell up to 2 million shares.
The Chatsworth software maker said it expects early next month to file a registration statement about the sale with the Securities and Exchange Commission and that the sale is expected in July. Software Toolworks said proceeds from the offering would be used for working capital and general corporate purposes.
The company has about 19 1/2 million common shares outstanding.