Definicon International Announces Sale of Stock

Definicon International Corp., a Newbury Park-based maker of components for IBM computers, said it plans to sell 1.5 million common share units for $3 each in an initial public offering.

The company said in a filing with the Securities and Exchange Commission that the $3.57 million in net proceeds it expects from the offering would be used to establish a European headquarters, repay debt and provide additional working capital. Each unit will include one common share and two common stock purchase warrants, it said.