Platinum Software to Issue Stock: Platinum Software...
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Platinum Software to Issue Stock: Platinum Software Corp., a publisher of accounting software, said Thursday that it plans to issue about 2.5 million shares of stock in a secondary public offering.
Gerald Blackie, chief executive, said the Irvine-based company will use the proceeds to step up its expansion plans and possibly acquire another company. Platinum will issue 1 million shares and certain shareholders will issue the rest.
Platinum is already sitting on $16.4 million in cash, mostly from its initial public offering in October. At the current price of $32.75 a share, the company could raise about $32.7 million for its own use.
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