Biopure secures $5.37 million from PIPE; BOS Better Online Solutions raises $1.5 million from notes

By Sheri Kasprzak

New York, Aug. 17 - Heading up another relatively active day for private placements was news of a $5,378,785 private placement from Biopure Corp. Thursday.

The offering - and the release of the company's third-quarter earnings statement - sent the company's stock down by a penny to end at $0.89 (Nasdaq: BPUR).

The company plans to sell 7,575,754 units at $0.71 each to a group of institutional investors. The units are comprised of one share and one warrant. The warrants are exercisable at $0.89 each for five years.

Dawson James Securities Inc. is the placement agent.

On Thursday, the company also released its third-quarter earnings report.

Total revenues for the third quarter were $396,000, compared with $483,000 for the corresponding 2005 quarter.

The company reported a net loss of $6.6 million for the quarter, compared with a net loss of $6.4 million for the same quarter of 2005.

Biopure, based in Cambridge, Mass., develops therapeutics to increase transport of oxygen to the body's tissues.

BOS's $1.5 million deal

Moving to the tech sector, Israel's BOS Better Online Solutions Ltd. completed a private placement of secured convertible term notes for $1.5 million Thursday.

Laurus Master Fund Ltd. bought the notes, which are due in three years. The note bears interest at Prime rate plus 150 basis points and is convertible at $3.08 each for the first $500,000 and at $4.08 each for additional principal amounts.

The investor received warrants for 73,052 shares, exercisable at $4.04 each for the first 24,351 shares and at $5.30 for the remaining shares. The warrants expire Aug. 16, 2013.

Proceeds will be used for working capital and potential mergers or acquisitions.

The company's stock fell by a penny on Thursday to close at $2.68 (Nasdaq: BOSC).

BOS is no stranger to the PIPE market. In May 2005, the company sold 1,087,000 shares at $2.30 each.

Located in Teradyon, Israel, BOS Better Online Solutions develops semiconductors and components used in computers and other electronics.

Blackstone to raise C$10 million

Looking to Canadian private placement offerings, Blackstone Ventures Inc. negotiated a private placement for up to C$10 million and at least C$7.5 million even as oil prices continued to dive.

The offering includes up to 15,386,615 and at least 11,538,461 units at C$0.65 each.

The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$1.00 each for 18 months.

A syndicate of placement agents led by Toll Cross Securities Inc. will place the units.

Proceeds will be used for exploration on the company's Scandinavian nickel projects. The rest will be used for working capital.

The company's stock remained unchanged at C$0.66 Thursday (TSX Venture: BLV).

Based in Vancouver, B.C., Blackstone is a mineral exploration company.

In the broader market, oil prices continued to slide, losing $1.83 on Thursday to end at $70.06 per barrel.

Back to more mineral offerings, Alma Resources Ltd. wrapped up the final tranche of a non-brokered private placement for C$4,846,409.

The company sold 6,923,441 units at C$0.70 each.

The units are comprised of one share and one half-share warrant. Each whole warrant is exercisable at C$1.00 for one year.

Proceeds will be used for property payments, exploration on the Dialex properties and working capital.

In other news at Alma, the company completed its acquisition of Promotora Minera Dialex SA de CV.

Vancouver, B.C.-based Alma is a precious metals exploration company.

Pure raises C$4 million

Elsewhere in Canada, Pure Technologies Ltd. completed a private placement of 3,081,814 shares for proceeds of C$4,006,358.

The company issued the shares at C$1.30 each.

Canaccord Capital Corp. was the placement agent.

Proceeds will be used to accelerate market development for the company's SountPrint, P-Wave, SoundPrint and Smartball technologies.

Pure Technologies, located in Calgary, Alta., develops technologies to manage and survey water and wastewater pipelines, bridges, oil and gas pipelines, transportation infrastructure and other structures.

Tvia stock climbs

Looking to secondary market activity, Tvia, Inc.'s stock edged up on Thursday after settling a $11,925,000 private placement Wednesday.

The company's stock gained 3.57%, or 11 cents, to settle at $3.19 (Nasdaq: TVIA). The stock closed up 2 cents, or 0.65%, on Wednesday when the deal closed, to end at $3.08.

In the deal, the company plans to sell shares at $2.50 each to a group of institutional investors. The price per share is an 18% discount to the company's $3.06 closing stock price on Tuesday.

The deal is scheduled to wrap up on Friday.

Proceeds will be used to fund growth.

Santa Clara, Calif.-based Tvia develops digital display processors for digital high-definition, liquid crystal display, plasma display panel, standard definition and progressive-scan televisions.

Enbridge stock edges up

Enbridge Energy Partners, LP continued to see its stock climb on Thursday after closing a private placement for $496.8 million earlier this week.

The stock gained 16 cents to settle at $48.21 (NYSE: EEP). On Wednesday, the stock moved up by $1.08, or 2.3%, to close at $48.05, and on Tuesday, when the deal settled, the stock gained 17 cents to end at $46.97.

In the placement, the company issued class C units at $46.00 each, a 1.7% discount to the company's $46.80 closing stock price on Monday, to Enbridge Partners and CDP Infrastructures Fund GP.

The units will receive quarterly distributions until Aug. 15, 2009 and will convert into class A common units on a one-for-one basis after Aug. 15, 2009.

Proceeds from the offering will be used for the company's capital expansion program, including East Texas and Southern Access expansion projects.

Houston-based Enbridge is a liquid petroleum pipeline operator and natural gas processing company.

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