Private Placement

Surgical laser maker Trimedyne Inc. said Tuesday that it has sold 612,168 shares of common stock to four institutional and private investors for a total of more than $2.1 million. The Irvine manufacturer said in a press release that it sold the stock in a private placement at $3.32 a share. The company did not disclose the names of the investors. The investors also received warrants to purchase an aggregate of 321,085 shares of common stock at a price of $4.88 per share.

E-ppraisal Inc. of Westlake Village announced the closing of a private placement of stock in excess of $1 million. Participating institutional investors included Golden Eight Ventura Capital LP and ECICS Management Ptd. E-ppraisal Inc., a start-up Internet-based company, provides automated valuation services for the residential real estate industry.

Nexell Therapeutics, an Irvine supplier of therapeutic and diagnostic products, said Monday that it has raised $63 million in preferred shares and warrants in a private placement with institutional investors. The company said in a press release it plans to use a portion of the proceeds to retire about $34 million in debt held by Baxter International Inc. New investors include John Hancock Mutual Life Insurance Co., Metropolitan Life Insurance Co. and Massachusetts Mutual Life Insurance Co.

CoCensys Inc. said Tuesday it raised $8 million through the private placement of a new series of convertible preferred stock. The Irvine biopharmaceutical company, which develops products to treat neurological and psychiatric disorders, said it may sell an additional $2 million of the stock later this year or early next year. CoCensys plans to use a "significant portion" of the funds for clinical trials of ganaxolone for the prevention and treatment of migraines.

Computer software maker International Veronex Resources Ltd. said Thursday that it has completed a private placement agreement with an investment banker that could bring as much as $6.2 million to the company. Veronex said that Robb, Peck, McCooey Clearing Corp. will buy up to 502,000 shares of common stock and can exercise warrants to buy an additional 602,400 shares.

Auto-By-Tel Corp., operator of a major Internet automobile information, purchasing and leasing program, said Thursday it has completed a $13-million private placement of preferred stock. The sale is the third in the last 15 months and brings the company's total private equity capital investment to $37 million. Investors included General Electric Capital Corp., the American International Group Inc. subsidiary of National Union Fire Insurance Co.

Cardiac Science Inc. has completed a $1.5-million private placement of common stock and will complete a 1-for-11.43 reverse stock split next Monday. The stock placement, administered by Sorbus Asset Strategies S.A. of Zurich, was made at 17.5 cents a share on a pre-split basis, the company said. The reverse stock split will reduce the number of common shares outstanding to 5.9 million.