| Ticker: LNDC | 3603 Haven Avenue | |
| Exchange: NASDAQ-National Market | Menlo Park, California 94025 | |
| Industry: Manufacturing | (415) 306-1650 |
| Type of Shares: | Common Shares | Filing Date: | 12/22/95 | |
| U.S. Shares: | 2,800,000 | Offer Date: | 2/15/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 2,800,000 | Offer Price: | $12.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.84 | |
| Offering Amount: | $33,600,000 | Selling: | $0.50 | |
| Expenses: | $750,000 | Reallowance: | $0.10 | |
| Shares Out After: | 10,198,525 |
| Manager | Tier | Phone |
| Smith Barney Inc. | Lead Manager | (718) 921-8473 |
| Lehman Brothers Incorporated | Co-manager | (212) 640-6129 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 10/31/95 | 10/31/95 | ||||
| Revenue: | $4.05 | Assets: | $7.35 | ||
| Net Income: | -$2.76 | Liabilities: | $2.50 | ||
| EPS: | -$0.36 | Equity: | $4.85 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company designs, develops, manufactures and sells temperature activated polymer products for a variety of industrial, medical and agricultural applications. The company's products are based on its proprietary Intelimer polymers, which differ from other polymers in that they can be customized to abruptly change their physical characteristics when heated or cooled through a pre-set temperature switch. For example, Intellimer polymers can change within the space of one or two degrees Celsius from a slick, non-adhesive state to a highly tacky, adhesive state; from an impermeable state to a highly permeable state; or from a solid state to a viscous state. These abrupt changes are repeatedly reversible and can be tailored by Landec to occur at specific temperatures, thereby offering substantial competitive advantages in the company's target markets. The company believes its enabling Intelimer technology provides for differentiated, high value products that address a wide variety of applications in large, commercial markets. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used for capital expenditures, manufacturing scale-up, working capital and other general corporate purposes. |
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