| Ticker: PPDI | 115 North Third Street | |
| Exchange: NASDAQ-National Market | Wilmington, North Carolina 28401 | |
| Industry: Service | (910) 251-0081 |
| Type of Shares: | Common Shares | Filing Date: | 11/6/95 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 1/24/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $18.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.26 | |
| Offering Amount: | $30,000,000 | Selling: | $0.75 | |
| Expenses: | $1,038,000 | Reallowance: | $0.10 | |
| Shares Out After: | 8,941,795 |
| Manager | Tier | Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 640-6129 |
| Furman Selz Incorporated | Co-manager | (212) 309-8200 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/94 | 9/30/95 | 9/30/94 | 9/30/95 | ||
| Revenue: | $40.74 | $38.58 | $28.86 | Assets: | $25.54 |
| Net Income: | $2.02 | $1.19 | $1.52 | Liabilities: | $16.83 |
| EPS: | $0.28 | $0.25 | Equity: | $8.71 | |
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 contract research organization (CRO) providing a broad range of integrated product development services in the United States and certain services in Europe. These services complement the research and development activities of companies in the pharmaceutical and biotechnology industries. The company offers its clients high quality, value-added services designed to reduce drug development time. Reduced development time allows the client to get its products into the market faster and to maximize the period of marketing exclusivity and the economic return for such products. In addition, the company's integrated services offer its clients a variable cost alternative to the fixed costs associated with internal drug development. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay debt connected to an S corporation distribution, to repay the S Corporation Notes and for working capital and for general corporate purposes including possible strategic acquisitions and repayment of other indebtedness. |
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