| Ticker: ESCMF | 9 Haezel Street | |
| Exchange: NASDAQ-National Market | Tirat Carmet, Foreign 30200 | |
| Industry: Wholesale | 9724574123 |
| Type of Shares: | Ordinary Shares | Filing Date: | 12/8/95 | |
| U.S. Shares: | 3,100,000 | Offer Date: | 1/24/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,330,769 | Offer Price: | $15.00 | |
| Secondary Shares: | 769,231 | Gross Spread: | $1.05 | |
| Offering Amount: | $40,300,000 | Selling: | $0.63 | |
| Expenses: | $900,000 | Reallowance: | $0.10 | |
| Shares Out After: | 10,208,112 |
| Manager | Tier | Phone |
| Smith Barney Inc. | Lead Manager | (718) 921-8473 |
| Montgomery Securities | Co-manager | 4156272220 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/94 | 9/30/95 | 9/30/94 | 9/30/95 | ||
| Revenue: | $1.13 | $4.72 | $0.42 | Assets: | $3.96 |
| Net Income: | -$0.50 | $1.56 | -$0.71 | Liabilities: | $1.65 |
| EPS: | -$0.19 | $0.22 | -$0.28 | Equity: | $2.30 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company develops, manufactures and markets medical devices using proprietary intense pulsed light technology for non invasive treatment of varicose veins and other benign vascular lesions, as well as other clinical applications. Pulsed light technology forms the basis for the company's initial product, the PhotoDerm VL, of which over 90 units have been sold as of November 30, 1995 and are operational in clinics and physician offices throughout the world. The company's patented technology uses thermal energy generated by an intense pulsed light source to selectively eliminate unwanted lesions without damaging the surrounding healthy tissues. The company markets its products in the United States primarily to dermatologists, vascular surgeons, plastic surgeons ad phlebologists, utilizing an experienced direct sales force supplemented by regional distributors specializing in the sale of medical equipment. In the rest of the world, the Company markets primarily through distributors and through its majority-owned German subsidiary. |
| Use of Proceeds |
| The proceeds from the offering will be used for expansion of marketing activities, additional research and development, working capital and other general corporate purposes, including possible acquisitions of businesses, products or technology. |
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