| Ticker: MEMCF | Atidim Industrial Park, Building 7, Neve Sharet | |
| Exchange: NASDAQ-National Market | Tel Aviv, Foreign 61581 | |
| Industry: High-Tech | 7236487415 |
| Type of Shares: | Ordinary Shares | Filing Date: | 9/24/96 | |
| U.S. Shares: | 2,692,000 | Offer Date: | 10/15/96 | |
| Non-U.S. Shares: | 673,000 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 3,000,000 | Offer Price: | $15.00 | |
| Secondary Shares: | 365,000 | Gross Spread: | $1.05 | |
| Offering Amount: | $43,745,000 | Selling: | $0.63 | |
| Expenses: | $1,500,000 | Reallowance: | $0.10 | |
| Shares Out After: | 15,013,300 |
| Manager | Tier | Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 640-6129 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-2000 |
| Montgomery Securities | Co-manager | (415) 627-2220 |
| Auditor: Luboshitz, Kasierer & Co. | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $1.55 | $4.94 | $0.28 | Assets: | $12.96 |
| Net Income: | -$2.46 | $0.79 | -$0.96 | Liabilities: | $8.37 |
| EPS: | -$0.21 | -$0.06 | -$0.08 | Equity: | $4.59 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company develops, markets, licenses and supports security software products designed to protect and manage access to critical information assets and system resources in an open client/server environment. The company's Security for Open Systems family of software products provides a unique information security solution and redefines the focus of access control from the network to the server, where information resides. Although many existing network security products, such as firewalls and other access control mechanisms, limit access to an organization's network and protect data in transit, data residing on open system servers has remained largely unprotected and vulnerable to security breaches. The company's products address the growing demand for server security solutions by restricting unauthorized users both from inside and outside an organization from accessing computing resources and data. As an increasing number of organizations recognize the importance of protecting critical corporate data while it resides on servers, the SeOS family of products is being adopted by companies in various industries, including Fortune 100 companies. The company currently sells and derives substantially all of its revenues form SeOS Access Control and SeOS Administrator. The company expects to introduce SeOS Single Sign-On, SeOS Security Wizard, "SeOS Secured!" and new versions of SeOS Access Control and SeOS Security Administrator with support for addition platforms. |
| Use of Proceeds |
| The proceeds from the offering will be used for research and development with respect to new and existing products, the expansion of its marketing activities, working capital and general corporate purposes. |
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