Rainbow Technologies Offers New Shares: Rainbow Technologies...
From Times Staff and Wire Reports
Rainbow Technologies Offers New Shares: Rainbow Technologies Inc., an Irvine maker of software protection products, said Friday that it has offered 1 million shares of common stock in a secondary public offering at $14 a share. The company issued 800,000 shares and shareholders are offering the other 200,000. Rainbow expects to raise about $11 million from the offering to pay for an expansion in Europe, possible acquisitions and other projects. The offering is being underwritten by Needham & Co., a New York investment banking firm, and Van Kasper & Co., an investment banking firm in San Francisco. Rainbow stock closed at $14.25 a share, down 25 cents, in over-the-counter trading Friday.
