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RECENT DEALS

Monday, March 28, 2005; Page E05

PRIVATE EQUITY

Appfluent Technology Inc., a Bethesda software developer, sold $3.1 million of Series A-1 and Series 1-2 convertible preferred stock to three investors, according to a filing with the Securities and Exchange Commission. Updata Venture Partners of Reston, DynaFund Ventures of Arlington, Carlyle Venture Partners of Washington and New Markets Growth Fund of College Park are listed as beneficial owners.

Cardiocore Lab Inc., a Bethesda medical services company, sold $1.35 million of promissory notes convertible into common stock to six investors, according to an SEC filing.

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More SEC News

RNR III Inc., a McLean investment fund "using a long/short strategy," sold $48.5 million of partnership units to 36 investors, according to an SEC filing. RNR is managed by Ramsey Asset Management, a money manager controlled by Russell W. Ramsey.

RLJ Urban Lodging Fund (PF #1) LP, a hotel investment fund run by RLJ Capital Partners, an affiliate of Black Entertainment Television founder Robert L. Johnson, sold $35 million of limited partnership interests to one investor, according to an SEC filing. Presidio Partners of San Francisco managed the offering.

Ecutel Systems Inc., a Herndon provider of wireless security and enterprise mobility software, sold $3.25 million of Series A-1 preferred stock to two investors, according to an SEC filing. McDonnell & Associates of McLean and Henkel KgaA of German were listed as beneficial owners.

Maverick Healthcare Holdings Inc., an Arizona-based home health care products and services seller controlled by Washington corporate buyout firm Halifax Group, sold $35.3 million of common and Series A convertible preferred stock to six investors, according to an SEC filing. Maverick will use the money for acquisitions.

PUBLIC EQUITY

Cardinal Financial Corp., a rapidly growing Tysons Corner-based bank holding company, last week registered with the SEC to sell about $50.1 million of stock in a secondary public offering. Cardinal will sell 5,175,000 shares of its common stock, not including another 675,000 that could go to the underwriters if demand is sufficient. Raymond James & Associates and Legg Mason Wood Walker Inc. are managing the offering.

Compiled by Terence O'Hara.


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