Franklin Telecom Raises $1 Million From Stock

Franklin Telecom, a Westlake Village producer of communications devices and software, has raised $1 million through a private stock placement. The company says it may receive as much as $2.5 million more if certain stock warrants are exercised early next year.

The placement generated cash needed to promote new products for connecting customers to the Internet’s World Wide Web, according to Frank Peters, Franklin’s president.