Offering raises $8 mil for Kushner-Locke Co.

Kushner-Locke Co., the television production company, said Friday that it completed a public stock offering of 8,050,000 common shares, raising just over $ 8 million.

The offering was increased from the 5 million common shares the company said it planned to sell in an announcement made Nov. 1.

“Greater investor interest made us increase the offering at the last minute,” said Donald Kushner, co-chairman of the Westwood-based company.

Shares went for $ 1 apiece, with 7 million shares offered.

The company also elected to exercise an over-allotment of more than 1 million shares.

K-L, which called off a proposed $ 10 million merger with distributor Rysher Entertainment last summer, produces and distributes TV series and telepix.

Kushner said proceeds will be used for working capital.

The shares were mostly sold to retail investors, Kushner added.

The offering was made through Chatfield Dean & Co. of Colorado.

Two weeks ago, K-L canceled a $ 10 million debt offering.

The company had 20 million shares outstanding pre-offering, and about $ 5.8 million in long-term debt, with a credit line of $ 10 million, Kushner said.

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