Soligen to Raise Capital With 2 Stock Offering

Soligen Technologies Inc., a Northridge-based producer of metal parts and tooling from computer-generated designs, said it plans to raise up to $5.83 million through two private placement stock offerings.

The first placement is expected to raise up to $1.33 million through the issuance of bundles of stock and warrants that will be sold for 55 cents per bundle. Each bundle, or unit, will consist of one share of common stock, plus warrants that can be used to purchase additional shares. The second placement is expected to raise $2.5 million to $4.5 million.

Yehoram Uziel, chief executive of Soligen, said the proceeds of the placements will be used to build eight new casting machines, hire up to three new salespeople, pay for advertising and for other working capital purposes.