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PENULTIMATE SIGNS LETTER OF INTENT FOR $5 MILLION FINANCING

 IRVINE, Calif., June 8 /PRNewswire/ -- PenUltimate Inc. (OTC: PULA), a developer of pen and mobile computing software, today announced that it has signed a letter of intent with an underwriter with respect to a public offering of $5 million of the company's securities.
 Under the proposed agreement, the underwriters will purchase from the company, and resell to the public, units for an aggregate offering of $5 million. Each unit will consist of one share of common stock and one redeemable common stock purchase warrant to purchase an additional share of common stock. The company anticipates promptly filing a registration statement with the Securities and Exchange Commission and commencing the offering immediately after S.E.C. approval.
 -0- 6/8/93
 /CONTACT: Paul Mondschein, president of PenUltimate, 714-476-6360; or Shannon Squyres of Corporate Relations Group, 714-955-1860, for PenUltimate/
 (PULA)


CO: PenUltimate Inc. ST: California IN: CPR SU:

MS -- LA021 -- 6619 06/08/93 14:17 EDT
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Publication:PR Newswire
Date:Jun 8, 1993
Words:155
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