Golden Systems Inc., a Simi Valley producer of power supplies for personal computers that recently completed its initial public stock offering, has sold an additional 250,000 common shares as part of an underwriter's over-allotment option. The proceeds totaled $1.7 million.
Golden Systems issued 2.5 million shares last month at $7 per share. The additional shares have been sold at the same price to the firm's managing underwriters, Wedbush Morgan Securities and L. H. Friend, Weinress & Frankson Inc.
Golden Systems' chief executive is Jay Tandon, the younger brother of Sirjang (Jugi) Tandon, founder of Tandon Corp., a Simi Valley PC maker that filed for Chapter 11 bankruptcy protection earlier this year. Jugi Tandon owns 3% of Golden Systems' stock.
Golden Systems' manufacturing operations and most of its engineering staff are in India.