Logic Devices Inc, Sunnyvale, California chip designer has raised some $9.85m in a private placing of 855,000 common shares, and wants the cash to acquire additional wafer capacity commitments from its wafer foundries and also for working capital.
Verity Inc, Mountain View, California software tools developer, has filed with the US Securities & Exchange Commission to go public with an initial offering of 3.33m shares, 2.5m of them new, and looks for net proceeds of at least $20.13m to be used for product development, financing accounts receivable and working capital. The underwriters for the offering are Hambrecht & Quist Inc, Alex Brown & Sons Inc and Wessels, Arnold & Henderson.
L M Ericsson Telefon AB, Stockholm duly launched its one-for-10 rights issue at 90 krone per share to raise the equivalent of $1,069m to finance rapid growth.
