Kenfil Sells Additional 50,000 Shares to Group
Kenfil Inc., a Van Nuys-based distributor of personal computer software, said it sold an additional 50,000 shares of common stock for $7 apiece to an underwriting group led by Piper Jaffray Inc.
The sale was a partial exercise of the underwriters’ “over-allotment” option, whereby they were allowed to purchase additional shares in connection with Kenfil’s initial public stock offering last month, in which Kenfil sold 2.5 million common shares for $7 a share.
Kenfil said the additional sales generated net proceeds of $324,500 for the company.
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