PenUltimate Stock

PenUltimate Inc. said Friday that about 1.19 million shares of its common stock have been approved for trading by the Securities and Exchange Commission and California’s Department of Corporations.

Most of those shares, which represent about 44% of the Irvine software company’s outstanding common stock, were sold in a private placement in May. But there was a required four-month waiting period before the SEC declared the shares effective.