Pacific Softworks Reports Successful Public Offering

Pacific Softworks in Newbury Park said its initial public offering of 950,000 units--consisting of 950,000 common shares and 950,000 warrants priced at $5.25 per unit--was a success.

The shares and warrants will be traded separately on the Nasdaq Small Cap Market under the ticker symbols PASW and PASWW, respectively.

Spencer Edwards Inc. acted as underwriter for the offering. With the completion of the offering, 4.25 million shares of common stock are outstanding.

Pacific Softworks develops and licenses Internet and Web-related software and software development tools.