Stock Increase OKd for Reddi Brake Corp.
Shareholders of Reddi Brake Supply Corp. have approved a proposal to increase the number of authorized shares of common stock from 35 million to 75 million.
The approval came during a special meeting of company stockholders last month. The increase makes available sufficient shares of common stock to meet existing obligations of Reddi Brake and to take advantage of future financing, acquisition or investment activities, company officials said.
Reddi Brake, with headquarters in Ventura, operates 85 warehouse stores in 26 states.
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