Southland Stock Offering: Southland Communications Inc., a...

Southland Stock Offering: Southland Communications Inc., a Santa Ana electronic paging service, said it hopes to raise $5 million through a private stock placement to foreign investors. The company said it will use the majority of the funds as working capital and the remainder to finance its acquisition of A+ Beepers of California. Southland said it has agreed in principle to acquire A+ Beepers for an undisclosed sum to be paid in stocks and notes. The combined companies will have about 75,000 pagers in service.