| Ticker: SEAC | 124 Acton Street | |
| Exchange: NASDAQ-National Market | Maynard, Massachusetts 01754 | |
| Industry: Manufacturing | (508) 897-0100 |
| Type of Shares: | Common Shares | Filing Date: | 9/18/96 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 11/4/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | - | |
| Primary Shares: | 1,715,000 | Offer Price: | $15.00 | |
| Secondary Shares: | 285,000 | Gross Spread: | $1.05 | |
| Offering Amount: | $25,000,000 | Selling: | $0.63 | |
| Expenses: | $850,000 | Reallowance: | $0.10 | |
| Shares Out After: | 12,752,012 |
| Manager | Tier | Phone |
| Morgan Stanley & Co. Incorporated | Lead Manager | (212) 703-4797 |
| Alex. Brown & Sons Incorporated | Co-manager | (410) 727-1700 |
| Montgomery Securities | Co-manager | (415) 627-2220 |
| Auditor: Price Waterhouse | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $23.20 | $24.35 | $11.58 | Assets: | $23.86 |
| Net Income: | $1.21 | $2.12 | $1.13 | Liabilities: | $18.48 |
| EPS: | $0.11 | $0.18 | $0.10 | Equity: | $5.38 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Seachange is a leading provider of software-based products to manage, store and distribute digital video for cable television operators and telecommunications companies. The company's products utilize its proprietary distributed application software and standard industry components to automate the management and distribution of short - and long - form video streams including advertisements, movies, news updates and other video programming requiring precise, accurate and continuous execution. The company's digital video products are designed to provide higher image quality and to be more reliable, easier to use and less expensive than analog tape-based systems. In addition, SeaChange's products enable its customers to increase revenues by offering more targeted services such as geography-specify spot advertising and Video-On-Demand movies. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for general corporate purposes including working capital, product development and capital expenditures. |
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