Cash to I-Flow: I-Flow Corp. or Irvine...

Cash to I-Flow: I-Flow Corp. or Irvine said Monday it received $4.5 million from an offering of common stock and warrants.

I-Flow sold 772,000 units--one warrant and one share each--in a private placement in the U.S. and 1.5 million units in Europe.

The warrant entitles a holder to purchase another share at $3 before December, 1996. The stock closed Monday at $2.0625 on the Nasdaq, down 6.25 cents.

I-Flow makes devices for intravenous infusion of several fluids at once into patients. It said the money would bolster its sales, marketing and distribution.