NetGuru Buys Back Series B Preferred Stock

NetGuru Inc., a Yorba Linda Internet technology and services company, said it has repurchased all of its Series B convertible preferred stock.

The company sold 1.67 million shares of its common stock to a private investor, using the proceeds to repurchase the preferred shares from Elliott Associates and Westgate International. NetGuru said it also sold a total of 400,000 shares of common stock to Elliott and Westgate as part of the transaction.

The company’s stock closed Tuesday at $5.94, off 44 cents a share, in Nasdaq trading.