OXOCO CONCLUDES PRIVATE SALE OF NEW COMMON
Oxoco Inc said it concluded the private
placement of 3,906,250 shares of its new common stock at an
average purchase price of 1.28 dlrs per share for a cash
payment of five mln dlrs.
    Oxoco said the sale was to a group of venture capital
investors led by Hambrecht and Quist of San Francisco.
    It said the venture capitalists now own 71.6 pct of the
outstanding stock of the company.
    In addition, Andrew Loomis and Michael McGovern were
elected chairman and co-chairman, respectively, of the company,
it said.
 Reuter
