| Ticker: IPAC | 2221 Oakland Road | |
| Exchange: NASDAQ-National Market | San Jose, California 95131 | |
| Industry: Manufacturing | (408) 321-3600 |
| Type of Shares: | Common Shares | Filing Date: | 1/24/96 | |
| U.S. Shares: | 3,000,000 | Offer Date: | 2/28/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $7.00 - $9.00 | |
| Primary Shares: | 3,000,000 | Offer Price: | $7.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.53 | |
| Offering Amount: | $24,000,000 | Selling: | $0.32 | |
| Expenses: | $800,000 | Reallowance: | $0.10 | |
| Shares Out After: | 13,392,904 |
| Manager | Tier | Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 504-4525 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| Auditor: Price Waterhouse | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $20.76 | Assets: | $28.26 | ||
| Net Income: | $1.55 | Liabilities: | $29.18 | ||
| EPS: | $0.14 | Equity: | -$0.92 | ||
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 independent North American semiconductor packaging foundry. The company receives wafers from its customers and assembles each integrated circuit in a protective plastic package. The company's close proximity to its customers and the end-users of its customer's products allows it to provide quick turnaround design and prototype production and timely delivery of products in high volume. The company has been engaged in a continual program to expand its production capacity since the company commenced commercial production in January 1994. To meet their packaging requirements, semiconductor companies have relied on captive or independent packaging foundries, principally located in Asia. These packaging foundries were initially located in Asia in the 1970's to take advantage of low labor costs. During the 1980's semiconductor packaging commenced a transition from a labor intensive operation to a capital intensive, technologically advanced operation as packaging facilities were forced to automate significantly more complex devices while achieving consistency, quality and reliability. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for capital equipment purchases and other general corporate purposes including working capital. |
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