Alpharel Reports Stock Sale Raised $2.6 Million
Alpharel Inc., a Camarillo supplier of computer imaging systems, said it raised $2.6 million in a secondary offering of stock to the public.
The offering consisted of 750,000 units priced at $4.25 each. Each unit was made up of two shares of common stock and a warrant to buy another share at $4.25.
John W. Low, chief financial officer, said the proceeds would be used for development of new products and increased marketing, among other things.