| Ticker: | VVID | 10E Commerce Way | |
| Exchange: | NASDAQ-National Market | Woburn, Massachusetts 01801 | |
| Industry: | Manufacturing | (617) 938-7800 |
| Type of Shares: | Common Shares | Filing Date: | 10/17/96 | |
| U.S. Shares: | 1,600,000 | Offer Date: | 12/11/96 | |
| Non-U.S. Shares: | 400,000 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $12.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.84 | |
| Offering Amount: | $26,000,000 | Selling: | $0.47 | |
| Expenses: | $650,000 | Reallowance: | $0.10 | |
| Shares Out After: | 8,792,370 |
| Manager | Tier | Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 640-6129 |
| Cowen & Company | Co-manager | (212) 495-6000 |
| Needham & Company | Co-manager | (212) 371-8300 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 9/30/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $14.44 | $10.16 | $10.73 | Assets: | $10.21 |
| Net Income: | $2.10 | $0.74 | $0.82 | Liabilities: | $4.73 |
| EPS: | $0.28 | $0.10 | $0.11 | Equity: | $5.48 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a leading developer, manufacturer and marketer of automated inspection systems which detect plastic and other explosives in airline baggage. The company's family of advanced explosives detection systems identify targeted materials by analyzing the physical characteristics of each item in a bag, including the atomic number and mass, using patented composition analysis techniques and proprietary dual-energy x-ray technology. These systems automatically isolate and identify targeted materials within the bag, thereby preventing a suspect bag from being loaded into an aircraft until cleared by operator inspection. The company's systems can also be used to identify a wide variety of other substances, including drugs and currency. In 1993, the company's automated systems were successfully deployed in airports as part of an integrated multi-level checked baggage screening approach that is being adopted in many countries throughout the world. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for working capital and general corporate purposes including the redemption of certain non-convertible redeemable Preferred Stock. |
©1996 IPO Data Systems, Inc. - All rights reserved.