StarBase Wraps Up Action on Shares
StarBase Corp. said it has completed a $3-million private placement of 3,000 shares of Series G Preferred Stock. The company said each share, convertible into common stock at 1 cent a share, was offered at a subscription price of $1,000.
The Irvine company’s stock closed Monday at $1.25 a share, down 6 cents.
For the record:
12:00 a.m. Aug. 12, 1998 For the Record
Los Angeles Times Wednesday August 12, 1998 Orange County Edition Business Part D Page 9 Financial Desk 1 inches; 34 words Type of Material: Correction
StarBase Corp.--The software company completed a private placement of preferred stock, but did not disclose a price for converting the shares into common stock. A Dow Jones News Service report on Tuesday incorrectly listed a conversion price.
StarBase, which provides software configuration management tools, said it plans to use the proceeds to support the company’s expansion.
