ALR Plans Secondary Stock Offering

IRVINE — Advanced Logic Research Inc., a maker of personal computers, said Friday that it plans to raise an estimated $23 million by issuing 1.5 million shares of stock in a secondary offering.

James T. Richardson, chief financial officer, said the company is raising the money to partially repay $10.5 million in long-term debt, to increase working capital and to expand a manufacturing plant in Singapore.

“The expansion allows us to meet the demands in the Pacific Rim area,” said David Kirkey, vice president of worldwide marketing.

Last week, ALR paid about $6.3 million in stock to purchase 49% of ALR International, an international subsidiary, from Singapore-based Wearnes Technology, ALR’s biggest shareholder.

ALR stock closed at $15.625 per share in over-the-counter trading on Friday, down 37.5 cents. Based on that closing price, ALR could raise about $23 million with the offering.