TECHNOLOGY - June 30, 1992

Next Computer Raises $65 Million: Next, which expects to go public next year, said it has borrowed the $65 million from Chairman Steven Jobs and Japanese camera maker Canon Inc. The financing consists of a $55-million credit line from Canon, which is Next’s biggest outside stockholder as well as its distributor in Asia. The remainder was from Jobs, co-founder of the No. 2-ranked U.S. personal computer maker Apple Computer Inc. of Cupertino, Calif., who later launched Next. Next said the loans, the final round of the company’s private financing, will convert into equity when it makes an initial public offering of common stock.