| Ticker: | BITS | 215 First Street | |
| Exchange: | NASDAQ-National Market | Cambridge, Massachusetts 02142 | |
| Industry: | High-Tech | (617) 497-6222 |
| Type of Shares: | Class A Common Shares | Filing Date: | 9/6/96 | |
| U.S. Shares: | 2,100,000 | Offer Date: | 10/30/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $8.00 - $10.00 | |
| Primary Shares: | 2,100,000 | Offer Price: | $6.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.42 | |
| Offering Amount: | $18,900,000 | Selling: | $0.23 | |
| Expenses: | $950,000 | Reallowance: | $0.10 | |
| Shares Out After: | 5,783,689 |
| Manager | Tier | Phone |
| Volpe, Welty & Company | Lead Manager | (415) 956-8120 |
| Advest, Inc. | Co-manager | (203) 525-1421 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 9/30/96 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $8.97 | $5.41 | $4.77 | Assets: | $5.96 |
| Net Income: | $1.69 | $1.04 | $0.85 | Liabilities: | $3.11 |
| EPS: | $0.38 | $0.24 | Equity: | $2.85 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Bitstream develops and markets software products and technologies to enhance the creation, transport, viewing and printing of electronic documents. The company's products and technologies consist of 1) type products, such as libraries of type designs (fonts) and custom type products; 2) enabling technologies, which deliver typographic capabilities to hardware output devices and software applications; and 3) TrueDoc, a portable type technology providing for the efficient distribution of text, with fidelity, in a highly compressed format. In addition, beginning in the first half of 1997, the company expects to market a family of TrueDoc enhanced portable document products that are based upon Novell, Inc. certain rights to market and distribute Envoy. The company has obtained from Novell, Inc. certain rights to market and distribute Envoy. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the repayment of indebtedness, working capital and other general corporate purposes., including product development and potential acquisitions. |
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