President, Investor Increase Stakes in Photo Acoustic
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The president of Photo Acoustic Technology in Westlake Village boosted his stake in the company to 20% from 17%, and another investor increased his holdings of Photo Acoustic to 13% from 10%.
Mantosh K. Chawla, president of Photo Acoustic, which produces machines used to scan mechanical and computer parts for contamination, said in a filing with the Securities and Exchange Commission that he recently bought 80,000 additional shares for 30 cents each, or $24,000.
Chawla now owns about 568,000 of Photo Acoustic’s 2.83 million total common shares outstanding. He said he bought the stock for investment purposes.
In another SEC filing, Majid Amini, president of FAM Electronic in Westlake Village, said he also bought 80,000 Photo Acoustic shares for $24,000, boosting his stake in the company to 369,200 shares. He said the purchases were for investment only.
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