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ORANGE COUNTY BRIEFLY

February 23, 1995|JAMES S. GRANELLI | TIMES STAFF WRITER

Pairgain Technologies Inc.: The telecommunications company has filed with the Securities and Exchange Commission to sell 3 million shares of common stock.

Pairgain said 500,000 shares would be sold by the company and 2.5 million would be sold by the company's shareholders. The money raised will be used for working capital, expansion of its sales and marketing efforts and for developing new technology. The stock sale will be managed by Hambrecht & Quist Inc. and Lehman Brothers.

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