SAN FRANCISCO - Western Transmedia Co., the California franchisee of the Transmedia restaurant charge card program, said it raised net proceeds of $2.2 million through an oversubscribed public stock and rights offering.

With each of the 800,000 units in the offering, an investor got one share of common stock and a warrant to purchase one share of common stock at $4 per share between Dec. 25, 1994, and June 24, 1996. The offering was made to the holders of outstanding common stock purchase warrants, which were issued in July and August 1993 and expire June 24, 1996.

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