Chatcom Completes Offer of $3 Million in Stock

Chatcom Inc., a Chatsworth maker of industrial grade computer systems for network computing, said it has completed an offering of convertible preferred stock totaling $3 million.

The proceeds will be used to replace debt and for working capital, the company said.

Chatcom said it expects to report a loss for the fiscal year that ended March 31, in part because of cash shortages in the third and fourth quarters.