Regional Roundup 6-3-02

East

Endius Inc. of Plainville, Mass., is raising $8 million through a Series C preferred stock financing. At the time of its SEC filing, the company had already raised $3.77 million from 32 accredited investors. The medical instrument developer intends to use the proceeds from the offering for repayment of debt and working capital. For more information, call Brian Lesperance, chief executive, at 508-643-0983.

BChinaB Inc. of New York is raising $2 million through a private placement of common stock. A minimum investment of $5,000 is required on the placement. At the time of its SEC filing, the company had already raised $930,000 from 17 accredited and non-accredited investors. The plastics company intends to use the proceeds from the offering for working capital. For more information, call Jeremy Haft, president, at 212-922-9611.

Optiant Inc. of Somerville, Mass., raised $16.04 million from three accredited investors through a private placement of Series A-1 preferred stock. The provider of computer software and services intends to use the proceeds from the offering for undisclosed purposes. For more information, call Marcus Ruark, chief financial officer, at 617-625-1435.

Cell Pathways Inc. of Horsham, Pa., raised $15.5 million from 14 accredited investors through common stock and warrants. UBS Warburg LLC of New York and Ladenburg Thalmann & Co. of New York acted as agents on the placement for $760,616 in fees. The development stage pharmaceutical company, focused on the development of novel medicines to treat and prevent cancer, intends to use the proceeds from the offering for undisclosed purposes. For more information, call Robert Towarnicki, president, at 215-706-3800.

Hunter Fan Holdings of White Plains, N.Y., raised $4.7 million from 30 accredited and non-accredited investors through the sale of common stock. A minimum investment of $1,500 was required on the placement. The holding company, which holds the stock of Hunter Fan Acquisition I, intends to use the proceeds from the offering for the acquisition of other businesses. For more information, call Harrison Wilson, vice president, at 914-682-2700.

Salience Associates Inc. of Andover, Mass., raised $1.38 million from six accredited through a Series B convertible preferred stock financing. The company, engaged in personnel placement both temporary and permanent for executive, sales, and marketing positions, intends to use the proceeds from the offering for working capital and repayment of debt. For more information, call Robert Stockard, president, at 978-470-0999.

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South

Netuitive Inc. of Alpharetta, Ga., is raising $11.05 million througha Series B preferred financing. At the time of its SEC filing, the company had already raised $5.35 million from 15 accredited investors. The company, engaged in the development of software for adaptive monitoring and forecasting, intends to use the proceeds from the offering primarily for the repayment of debt and working capital. For more information, call Robert Zack, president, at 678-256-6100.

Advent Networks Inc. of Austin, Texas is raising $7.2 million through a convertible securities financing. At the time of its SEC filing, the company had already raised $2.25 million from nine accredited investors. The broadband network company intends to use the proceeds from the offering for working capital. For more information, call Steven Burt, chief financial officer, at 512-241-8000.

Pangrac & Associates Development Inc. of Port Aransas, Texas, is raising $2.58 million through the sale of Series A preferred stock. At the time of its SEC filing, the company had already raised $230,000 from two accredited investors. The developer of broadband networking products intends to use the proceeds from the offering for working capital. For more information, call Terence Brogan, chief financial officer, at 361-749-7375.

En Diva Software Inc. of Vienna, Va., is raising $2 million through a common stock financing. A minimum investment of $15,000 is required on the placement. At the time of its SEC filing, the company had already raised $700,000 from 14 accredited investors. The software development company intends to use the proceeds from the offering for working capital. For more information, call Wayne Yuch-Sheng Wu, vice president, at 703-898-5988.

Emergence Inc. of Richmond, Va., is raising $1.5 million through a private placement of Series B convertible preferred stock. A minimum investment of $25,000 is required on the placement. At the time of its SEC filing, the company had already raised $1.49 million from eight accredited investors. The branding and advertising firm intends to use the proceeds from the offering for the acquisition of businesses and the repayment of debt. For more information, call Claiborne Mason, president, at 804-643-6233.

Atlantic Capital Management Inc. of Winston-Salem, N.C., raised $9.86 million from 112 accredited and non-accredited investors through a common stock financing. There was a minimum investment of $2,500 required on the placement. The company, engaged in the business of mortgage-backed securities, intends to use the proceeds from the offering for investments in mortgage related assets. For more information, call Michael Hough, president, at 336-659-6106.

Fifth Millennium Solutions Inc. of Dallas raised $2.53 million from four investors through the private placement of stock options and future issuance of underlying shares. The software products services company that develops and supports industry software applications and performs business systems consulting, intends to use the proceeds from the offering for undisclosed purposes. For more information, call Scott Roloff, general counsel, at 214-630-6442.

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Midwest

Rubicon Genomics Inc. of Ann Arbor, Mich., is raising $6 million through the sale and issuance of Series B convertible preferred stock and common stock warrants. At the time of its SEC filing, the company had already raised $2.44 million from 16 accredited investors. The company, engaged in the business of genomics, intends to use the proceeds from the offering for working capital. For more information, call Thomas Collet, president, at 734-677-4845.

PeopleNet Communications Corp. of Chaska, Minn., is raising $5.5 million through a Series D convertible preferred stock financing. At the time of its SEC filing, the company had already raised $2.52 million from four accredited investors. The company, which provides services to commercial fleet owners through wireless systems, intends to use the proceeds from the offering for working capital. For more information, call John Sarto, chief executive officer, at 952-368-4100.

U.S. Semiconductor Corp. of Independence, Mo., is raising $2.15 million through a private placement of Series B convertible preferred stock. At the time of its SEC filing, the company had already raised $1.23 million from 103 accredited investors. The semiconductor development and manufacturing firm intends to use the proceeds from the offering for the acquisition of other businesses; purchase, rental or leasing and installation of machinery and equipment; and the repayment of debt. For more information, call Vincent Salva, vice president, at 816-554-7830.

Cool Clean Technologies Inc. of Burnsville, Minn., is raising $1.5 million through a common stock financing. A minimum investment of $50,000 is required on the placement. At the time of its SEC filing, the company had already raised $1.21 million from four accredited investors. The manufacturer of Carbon dioxide cleaning technology and equipment intends to use the proceeds from the offering for the construction of plant buildings and facilities, repayment of debt and working capital. For more information, call John Wilkstrom, president, at 952-882-5000.

Kokhala Inc. of St. Louis is raising $3 million through a private placement of Series B convertible preferred stock. A minimum investment of $50,000 is required on the placement. At the time of its SEC filing, the company had already raised $200,000 from two accredited investors. The developer, manufacturer and marketer of solar thermal electric modular systems intends to use proceeds from the offering for working capital and the purchase, rental or leasing and installation of machinery and equipment. For more information, call Kevin OíBrien, executive vice president of technology, at 314-743-2900.

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West

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