E. N. Phillips Raises Funds for Expansion

E. N. Phillips Co. in Woodland Hills said it recently raised $764,500 for expansion through the sale of various securities.

Phillips, which operates Testing 1-2-3 health-testing centers in shopping malls, said it received $600,000 from the private sale of restricted securities to investors. The company got an additional $109,000 from selling warrants (which entitle holders to buy Phillips stock at a certain price within a given time) and $55,500 from the exercise of outstanding stock options.

Phillips said Toluca Pacific Securities in Toluca Lake also hopes to raise an additional $1.5 million for Phillips through a second private offering of securities.