Regional Roundup 12-09-02

East

Coriolis Networks Inc. of Boxborough, Mass., has filed to raise $2 million through a private placement of convertible promissory notes. At the time of its SEC filing, the company had already raised $789,997 from 10 accredited investors. The company, engaged in the optical networking business, intends to use the proceeds from the offering for working capital. For more information, call Craig Campbell, controller, at 978-264-1904.

Integrated Development Enterprise Inc. of Concord, Mass., raised $9.6 million from 20 accredited investors through the sale of a Series C preferred stock. The software developer intends to use the proceeds from the offering for working capital. For more information, call Scott McDermott, vice president, at 978-318-9380.

Webmedx Inc. of Pittsburgh raised $12 million from nine accredited investors through a Series A convertible preferred stock round of financing. The Web-based healthcare provider intends to use the proceeds from the offering for debt repayment and working capital. For more information, call Lance Fusacchia, chief financial officer, at 412-968-9244.

ReliaQuote Inc. of Falls Church, Va., has filed to raise $3 million through a common stock offering. At the time of its SEC filing, the company had already raised $1.5 million from 14 accredited and two non-accredited investors. A minimum investment of $10,000 is required on the placement. The insurance company intends to use the proceeds from the offering for working capital. For more information, call William Jerro, president, at 703-289-0200.

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South

coaXmedia Inc. of Cumming, Ga,. raised $6 million from one accredited investor through a private placement of common stock. The developer of proprietary technology, which provides high speed Internet access to multi-dwelling units, intends to use the proceeds from the offering for working capital. For more information, call Dan Seitam, chief executive officer, at 678-513-6109.

Vascular Genetics Inc. of Atlanta has filed to raise $1.5 million through a sale of convertible debentures. At the time of its SEC filing, the company had already raised $876,386 from 13 accredited investors. The biotech company intends to use the proceeds from the offering for working capital. For more information, call Richard Otto, president, at 404-526-6200.

HealthEquity Inc. of Keller, Texas has filed to raise $3 million through an offering of preferred stock. At the time of its SEC filing, the company had already raised $2.1 million from 10 accredited investors. The provider of healthcare insurance plans intends to use the proceeds from the offering for salaries and fees, purchase, rental and installation of machinery and equipment, construction or leasing of plant buildings and facilities, technology development and payments to service providers. For more information, call Nuno Battaglia, chief financial officer, at 817-428-0196.

Omega Oil Company Inc. of Houston has filed to raise $500,000 through an issuance of a Series A preferred stock. At the time of its SEC filing, the company had already raised $210,000 from two accredited investors. The company, engaged in development of oil extraction technology, intends to use the proceeds from the offering for debt repayment and working capital. For more information, call Wayne Kelley, president, at 713-654-9800.

Traq Wireless Inc. of Austin, Texas has filed to raise $27 million through a Series A preferred stock round of financing. At the time of its SEC filing, the company had already raised $15.1 million from 21 accredited investors. The provider of mobile communications management intends to use the proceeds from the offering for working capital. For more information, call James Offerdahl, executive officer, at 512-344-0100.

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Midwest

Bacus Laboratories Inc. of Lombard, Ill., raised $1.6 million from two accredited investors through a preferred stock offering. A minimum investment of $500,000 was required on the placement. The developer of scientific equipment intends to use the proceeds from the offering for debt repayment and working capital. For more information, call James Bacus, president, at 630-424-9750.

Navistar International Corporation of Warrenville, Ill., raised $175 million from three accredited investors through a private placement of common stock. The leading producer and marketer of medium trucks, school buses and severe service vehicles intends to use the proceeds from the offering for general corporate purposes. For more information, call Thomas Hough, vice president and treasurer, at 630-753-5000.

Acorn Cardiovascular Inc. of St. Paul, Minn., has filed to raise $30.9 million through a private placement of a Series E convertible preferred stock and warrants exercisable for common stock and a Series E convertible preferred stock. At the time of its SEC filing, the company had already raised $20 million from 17 accredited investors. US Bancorp Piper Jaffray Inc. of Minneapolis is acting as an agent on the placement for $305,000 in sales commissions. The company, engaged in research, development and marketing of devices and accessories related to various cardiovascular procedures, intends to use the proceeds from the offering for working capital. For more information, call Paul Lunsford Jr., president and chief financial officer, at 651-286-4800.

Marix Technologies Inc. of Minnetonka, Minn., has filed to raise $1.5 million through an issuance of common stock. The company, which provides individuals with access to all their documents and applications regardless of location, intends to use the proceeds from the offering for working capital. For more information, call Dennis Johnson, president and chief executive officer, at 952-582-9100.

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West

Captus Networks Corp. of Woodland, Calif., has filed to raise $10 million through a Series D convertible preferred stock round of financing. At the time of its SEC filing, the company had already raised $350,000 from one accredited investor. The company, engaged in network management, intends to use the proceeds from the offering for working capital. For more information, call Stephen Schramke, president and chief executive officer, at 530-406-3500.

Coalescent Surgical Inc. of Sunnyvale, Calif., has filed to raise $4.8 million through a Series D preferred stock round of financing. At the time of its SEC filing, the company had already raised $4.4 million from 21 accredited investors. The company, which designs and manufacturers surgical equipment, intends to use the proceeds from the offering for working capital. For more information, call Charles Maroney, president and chief executive officer, at 408-743-9780.

DigiLens Inc. of Sunnyvale, Calif., raised $4 million from eight accredited investors through the sale of Series A preferred stock. The provider of photonics components intends to use the proceeds from the offering for working capital. For more information, call Jonathan Waldern, executive officer, at 408-737-1100.

First Sight Computing Inc. of Palo Alto, Calif., raised $1 million from one accredited investor through an issuance of convertible secured notes, options and warrants. The company, which sells and services computers intends to use the proceeds from the offering for working capital. For more information, call Sesidhar Kodali, president, at 650-853-8140.

Foundstone Inc. of Mission Viejo, Calif., raised $500,000 from one accredited investor through a Series B1 preferred stock round of financing. The provider of security assessment solutions intends to use the proceeds from the offering for working capital. For more information, call Gregg Marston, vice president, at 949-450-5970.

GenoSpectra Inc. of Fremont, Calif., has filed to raise $12.5 million through a Series B preferred stock round of financing and the common stock. At the time of its SEC filing, the company had already raised $8 million from eight accredited investors. The biotech company intends to use some proceeds from the offering for working capital. For more information, call Shiping Chen, executive officer, at 510-818-2600.

Infommersion Inc. of San Diego raised $435,000 from four accredited investors through an offering of common stock. The software developer intends to use the proceeds from the offering for salaries and fees and working capital. For more information, call Santiago Becerra Sr., president and chief executive officer, at 858-597-7576.

Malibu Networks Inc. of El Dorado Hills, Calif., has filed to raise $1.6 million through a convertible promissory note and warrant purchasing round of financing. At the time of its SEC filing, the company had already raised $1.1 million from nine accredited investors. The supplier of broadband wireless access systems to service providers intends to use the proceeds from the offering for working capital. For more information, call James Allen, executive officer, at 916-941-8777.

Meru Networks Inc. of Santa Clara, Calif., has filed to raise $12.1 million through a Series A preferred stock round of financing. At the time of its SEC filing, the company had already raised $10.6 million from 14 accredited investors. The company, involved in wireless research and development, intends to use some proceeds from the offering for working capital. For more information, call Nicholas Mitsakos, chief financial officer, at 408-969-7100.

Mobile Storage Group Inc. of Burbank, Calif., has filed to raise $7.7 million through an offering of senior notes and a Series L preferred stock. A minimum investment of $20,000 is required on the placement. The company, engaged in the rental and sale of portable storage containers, trailers and mobiles services, intends to use the proceeds from the offering for debt repayment. For more information, call James Robertson, executive vice president, at 818-253-3291.

Neomar Inc. of San Francisco has filed to raise $6.7 million through an offering of Series E preferred stock, common stock. At the time of its SEC filing, the company had already raised $2.5 million from two accredited investors. The developer of enterprise mobile infrastructure software intends to use the proceeds from the offering for salaries, fees and working capital. For more information, call Chris Burns, vice president, at 415-403-7300.

Novacal Pharmaceuticals Inc. of Novato, Calif., has filed to raise $3.6 million through a private placement of convertible promissory notes. A minimum investment of $1,000 is required on the placement. The company, engaged in the development and sale of pharmaceutical products intends to use the proceeds from the offering for working capital. For more information, call Robert Tufts, executive officer, at 415-883-2600.

Powdermet Inc. of Sun Valley, Calif., raised $3 million from one accredited investor through a Series A preferred stock round of financing. The company, which develops and manufacturers value-added specialty materials for various industries, including aerospace, intends to use the proceeds from the offering for relocation, establishment of manufacturing and operating expenses. For more information, call Andrew Sherman, president, at 818-768-6420.

SDG Inc. of Santa Rosa, Calif., raised $500,000 from one accredited investor through a Series A convertible preferred stock round of financing. The engineering and design group intends to use the proceeds from the offering for working capital. For more information, call Che Voigt, president, at 707-568-3000.

Siftology Inc. of Palo Alto, Calif., has filed to raise $800,000 through an issuance of preferred stock. At the time of its SEC filing, the company had already raised $400,000 from three accredited investors. A minimum investment of $10,000 is required on the placement. The software developer intends to use some proceeds from the offering for working capital. For more information, contact Gordon Short, chief executive officer, at gordon@siftology.com.

SkinMedica Inc. of Carlsbad, Calif., raised $9 million from 16 accredited investors through a Series B preferred stock round of financing. A minimum investment of $10,000 was required on the placement. The company, engaged in sales and distribution of skin care products, cosmetics and related pharmaceuticals, intends to use some proceeds from the offering for working capital. For more information, contact Rex Bright, chief executive officer, at 760-804-0444.

Xora Inc. of Mountain View, Calif., raised $4 million from one accredited investor through a Series A preferred stock round of financing. The provider of solutions, related to mobile access to enterprise software, intends to use the proceeds from the offering for working capital. For more information, call Sanjay Shirole, executive officer, at 408-413-6460.

Signature Control Systems Inc. of Lakewood, Colo., has filed to raise $3.6 million through a Series A preferred stock round of financing. At the time of its SEC filing, the company had already raised $875,286 from 10 accredited investors. The provider of intelligent monitoring and control systems for optimizing materials and chemical processing intends to use some proceeds from the offering for working capital. For more information, call Hugh Williamson III, chief executive officer, at 303-783-0500.

Sound Surgical Technologies LLC of Lafayette, Colo., has filed to raise $3.5 million through an issuance of common stock. At the time of its SEC filing, the company had already raised $709,500 from seven accredited investors. A minimum investment of $24,750 is required on the placement. The company, engaged in design, development, manufacture and sale of ultrasonic and ancillary medical devices, intends to use the proceeds from the offering for salaries and fees, debt repayment, working capital and product inventory. For more information, call Douglas Foote, chief financial officer, at 303-926-8608.

Aradyme Development Corp. of American Fork, Utah has filed to raise $500,000 through a private placement of common stock. At the time of its SEC filing, the company had already raised $50,000 from five non-accredited investors. A minimum investment of $10,000 is required on the placement. The software developer intends to use the proceeds from the offering for salaries, fees, purchase, rental or leasing and installation of machinery and equipment, construction or leasing of plant buildings and facilities, and working capital. For more information, call James Spencer, chief executive officer, at 801-756-9585.

Arcessa Inc. of Seattle has filed to raise $1 million through a private placement of convertible promissory notes. At the time of its SEC filing, the company had already raised $100,000 from one accredited investor. The company, engaged in information retrieval, intends to use the proceeds from the offering for working capital. For more information, call Dell Keehn, president, at 206-675-0453.

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