New Image Plans to Raise $6 Million in Stock Sale
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New Image Industries, a Canoga Park producer of specialized computer systems, is planning to go public by selling 1 million shares of common stock.
In a filing with the Securities and Exchange Commission, New Image said it anticipates selling the stock for between $6 and $6.50 a share. The proposed sale is being underwritten by H. J. Meyers & Co., Beverly Hills.
New Image’s computer systems are mainly sold to beauticians, architects and landscape artists so they can show their clients before-and-after pictures that illustrate a proposed hair style, landscape or building.
In the fiscal year that ended June 30, New Image earned $804,000 on sales of $7.6 million. The company was started in March, 1987.
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