Regional Roundup 8-19-02

East

Orthovita Inc. of Malvern, Pa., has filed to raise $20 million through an offering of Series A 6% adjustable cumulative convertible voting preferred stock with attached warrants to purchase common stock. At the time of its SEC filing, the company had already raised $14 million from 13 accredited investors. SCO Securities LLC of New York is acting as an agent on the placement for a warrant to purchase up to 1,113,716 shares of common stock and a sales commission of $1.4 million. For more information, call Joseph Paiva, vice president and chief financial officer, at 610-407-5233.

InteQ Corp. of Bedford, Mass., has filed to raise $8 million through a Class B preferred stock offering. At the time of its SEC filing, the company had already raised $4.5 million from 23 accredited investors. The company, engaged in information technology services development and implementation, intends to use proceeds from the offering for working capital. For more information, call Maureen Ellenberger, chief executive officer, at 781-275-3400.

Hydrophilix Corp. of Saco, Maine, has filed to raise $5 million through a Series B offering. At the time of its SEC filing, the company had already raised $213,403 from eight accredited investors. The company, engaged in development and commercialization of reticulated hydrophobic polyurethane foam, intends to use some proceeds from the offering for salaries and working capital. For more information, call Michael Emont, director, at 207-283-0820.

Startech Environmental Corp. of Wilton, Conn., has filed to raise $5 million through an offering of Series A preferred stock and warrants. At the time of its SEC filing, the company had already raised $2.41 million from 24 accredited investors. A minimum investment of $15,000 is required on the placement. Paradigm Group of North Brook, Ill., Investar of Edgewater, Md., and CEO Cast of New York are acting as placement agents for $59,850 in sales commission. The provider of equipment and services relating to the recycling of hazardous wastes intends to use some proceeds from the offering for salaries, purchase, rental or leasing and installation of machinery and equipment, working capital and inventory. For more information, call Robert DeRochie, vice president and chief financial officer, at 203-762-2499.

Choicelinx Corp. of Manchester, N.H., has filed to raise $4.22 million through an offering of Series C preferred stock with attached warrants. At the time of its SEC filing, the company had already raised $3.72 million from 13 accredited investors. The software developer intends to use proceeds from the offering for debt repayment and working capital. For more information, call Gary Hilaire, chief financial officer, at 603-314-6000.

Netilla Networks Inc. of Somerset, N.J., has filed to raise $3.5 million through an offering of convertible promissory notes and warrants. At the time of its SEC filing, the company had already raised $2.5 million from five accredited investors. The company, which designs Web-based virtual office networks, intends to use proceeds from the offering for working capital. For more information, contact William Rohrs, vice president, at 877-638-4552.

eB2B Commerce Inc. of New York has filed to raise $1.35 million through a private placement of convertible notes. At the time of its SEC filing, the company had already raised $350,000 from 10 accredited investors. The provider of business-to-business e-commerce solutions intends to use some proceeds from the offering for working capital. For more information, call Richard Cohan, president and chief executive officer, at 212-477-1700.

Volumetrics Medical Imaging Inc. of Durham, N.C., has filed to raise $1.25 million through a private placement of subordinated convertible promissory notes. The developer of diagnostic ultrasound technologies intends to use proceeds from the offering for working capital. For more information, call Stephen Grenon, vice president, at 919-479-5888.

V-ONE Corp. of Germantown, Md., has filed to raise $1.2 million through an issuance of secured convertible notes with detachable warrants. A minimum investment of $100,000 is required on the placement, but that requirement can be waived. At the time of its SEC filing, the company had already raised $1.19 million from 32 accredited investors. Joseph Gunnar & Co. LLC of New York and LaSalle St. Securities LLC of Chicago are acting as the placement agents for a sales commission of $88,350 and warrants. The network security product developer intends to use proceeds from the offering for working capital. For more information, call Merle Miller, vice president, at 301-515-5200.

Bridgeline Software Inc. of Woburn, Mass., has filed to raise $1 million through a common stock offering. At the time of its SEC filing, the company had already raised $100,000 from three accredited investors. A minimum investment of $25,000 is required on the placement. Winslow, Evans & Crocker Inc. of Boston is helping to place the deal. The developer of Internet and Intranet products intends to use proceeds from the offering for working capital and software development. For more information, call Gary Cebula, chief financial officer, at 781-376-5555.

Frictionless Commerce Inc. of Cambridge, Mass., raised $14.39 million from 19 accredited investors through a Series E preferred stock offering. The provider of e-commerce enterprise class software intends to use proceeds from the offering for working capital. For more information, call Jeffrey Sachs, vice president, at 617-495-0180.

Interep National Radio Sales Inc. of New York raised $11 million from three accredited investors through a Series A preferred stock offering. The company, which sells national radio advertising airtime, intends to use proceeds from the offering for working capital. For more information, call William McEntee, vice president and chief financial officer, at 212-916-0700.

iConverse Inc. of Waltham, Mass., raised $6.03 million from five accredited investors through the sale of Series C preferred stock. The developer of computer software and hardware intends to use proceeds from the offering for working capital. For more information, call Ronald Matros, president, at 781-622-5050.

Diogenes Inc. of Iselin, N.J., raised $2 million from two accredited investors through the sale of Series A preferred stock. The developer and seller of computer software intends to use proceeds from the offering for working capital. For more information, call Ronald Scarboro, vice president, at 732-516-1400.

Back to top


South

PerfectServe Inc. of North Knoxville, Tenn., has filed to raise $2.5 million through a private placement of a Series A preferred stock and warrants to purchase common stock. At the time of its SEC filing, the company had already raised $2 million from three accredited investors. The answering service provider to medical practices intends to use proceeds from the offering for working capital. For more information, call John LaBine, chief operating officer, at 865-212-5000.

HowStuffWorks Inc. of Cary, N.C., has filed to raise $900,000 through a Series A1 preferred stock offering. A minimum investment of $100,000 is required on the placement. At the time of its SEC filing, the company had already raised $500,000 from one accredited investor. The issuer, which specializes in multi-media education and entertainment, intends to use proceeds from the offering for working capital. For more information, call Joe Kissack, chief executive officer, at 919-882-5000.

OpenNetwork Technologies Inc. of Clearwater, Fla., raised $10 million from nine accredited investors through a Series D convertible preferred stock offering. The developer and seller of software intends to use proceeds from the offering for working capital, marketing, sales, research and development and other general corporate purposes. For more information, call Kurt Long, president, at 727-561-9500.

Applied Systems Intelligence Inc. of Roswell, Ga., raised $616,800 from seven accredited investors through a private placement of Series B convertible preferred stock. The developer of software intends to use proceeds from the offering for working capital. For more information, call Norman Geddes, president and chief executive officer, at 770-518-4228.

Back to top


Midwest

Disc Dynamics Inc. of Minnetonka, Minn., has filed to raise $9.25 million through a private placement of Series D preferred stock. At the time of its SEC filing, the company had already raised $8.45 million from 30 accredited investors. The life sciences company intends to use proceeds from the offering for working capital. For more information, call Bruce Bowman, senior vice president, at 952-913-5400.

Piezomax Technologies Inc. of Middleton, Wis., has filed to raise $1.15 million through a common stock offering. At the time of its SEC filing, the company had already raised $1.148 million from two accredited investors. A minimum investment of $24,974 was required on the placement. The company, which designs, manufacturers and sells devices for positioning and motion at the nanometer scale, intends to use proceeds from the offering for salaries, construction or leasing of plant buildings and facilities, debt repayment and working capital. For more information, call John Biondi, chief executive officer, at 608-662-0088.

Thomson Foods Inc. of Duluth, Minn., has filed to raise $1 million through a preferred stock financing. A minimum investment of $100,000 is required on the placement. At the time of its SEC filing, the company had already raised $500,000 from one accredited investor. The producer of specialty food products intends to use proceeds from the offering for working capital. For more information, call Joel Kozlak, president, at 218-722-2529.

Tele Digital Development Inc. of Bloomington, Minn., raised $763,900 from 29 accredited investors through a common stock offering. The developer of end-to-end software solutions for the wireless industry intends to use proceeds from the offering for working capital. For more information, call Richard Barnaby, president and chief executive officer, at 952-876-0527.

Back to top


West

Ejasent Inc. of Mountain View, Calif., has filed to raise $15.15 million through a Series D preferred stock and convertible securities offering. At the time of its SEC filing, the company had already raised $10.16 million from 12 accredited investors. A provider of utility computing solutions that improve server efficiency and application performance, Ejasent intends to use some proceeds from the offering for working capital. For more information, call Kent Jarvi, chief financial officer, at 650-230-6300.

Global Locate Inc. of San Jose, Calif., has filed to raise $10 million through a Series B preferred stock financing. A minimum investment of $5 million is required on the placement. At the time of its SEC filing, the company had already raised $5 million from one accredited investor. The provider of wide-area, real time location technology to mobile network operators and manufacturers intends to use proceeds from the offering for salaries, fees and working capital. For more information, call Scott Pomerantz, president, at 408-371-0580.

Stellar One Corp. of Bellevue, Wash., has filed to raise $5 million through a Series B preferred stock offering. At the time of its SEC filing, the company had already raised $4.05 million from 36 accredited investors. The provider of interactive broadband services, products and technologies intends to use proceeds from the offering for working capital. For more information, call Ben Goux, executive officer, at 425-709-3800.

Massively Parallel Technologies Inc. of Louisville, Colo., has filed to raise $4.5 million through a common stock offering. At the time of its SEC filing, the company had already raised $2.63 million from 103 accredited investors. A minimum investment of $25,000 is required on the placement, but that requirement can be waived. The company, engaged in computer processing, intends to use proceeds from the offering for working capital. For more information, call Gerard Verbeck, chief financial officer, at 303-926-8555.

Electro-Lock Technologies Inc. of Irvine, Calif., has filed to raise $1 million through a preferred stock offering. A minimum investment of $20,000 is required on the placement. At the time of its SEC filing, the company had already raised $420,000 from 15 accredited investors and one non-accredited investor. The manufacturer of electronic components intends to use proceeds from the offering for salaries, working capital and the purchase, rental or leasing and installation of machinery and equipment. For more information, call Michael Gorman, chief executive officer, at 949-724-8883.

Pervasive Security Systems Inc. of Menlo Park, Calif., raised $21 million from 12 accredited investors through a Series C preferred stock offering. The infrastructure software provider intends to use proceeds from the offering for working capital. For more information, call Alain Rossmann, executive officer and director, at 650-752-0960.

Aradigm Corp. of Hayward, Calif., raised $5 million from one accredited investor through a common stock offering. The developer of pulmonary drug delivery systems intends to use proceeds from the offering for working capital. For more information, call Richard Thompson, president and chief executive, at 510-265-9000.

Branders.com Inc. of Foster City, Calif., raised $4.12 million from nine accredited investors through a Series A-1 preferred stock financing. The Internet company intends to use proceeds from the offering for working capital. For more information, call Gerald McLaughlin, executive officer, at 650-292-2800.

Tolerion Inc. of Palo Alto, Calif., raised $3 million from one accredited investor through a Series A preferred stock offering. The pharmaceutical research company intends to use proceeds from the offering for working capital and other operating expenses. For more information, call Lawrence Steinman, president, at 650-846-4800.

Chimerix Inc. of San Diego raised $2.23 million from five accredited investors through a preferred stock offering. The biotech company intends to use some proceeds from the offering for debt repayment. For more information, call Timothy Wollaeger, chief executive officer, at 858-550-6000.

ProteoGenix Inc. of Portland, Ore., raised $1.27 million from four accredited investors through a sale of Series A convertible preferred stock. A minimum investment of $100,000 was required on the placement. The biotech company intends to use proceeds from the offering for working capital. For more information, call Ron Rosenfeld, president and chief executive officer, at 503-243-4618.

Kurant Corp. of San Francisco raised $1.25 million from one accredited investor through a private placement of secured promissory notes and warrants, convertible into preferred stock. The Internet software developer intends to use proceeds from the offering for working capital. For more information, call Curtis Pierce, president and chief executive officer, at 415-241-9150.

Back to top