Top Image Systems Ltd.
Ticker:TISAF
Exchange:NASDAQ-Small Cap Market Israel
Industry:High-Tech

Type of Shares:Ordinary Shares Filing Date:
U.S. Shares:1,200,000 Offer Date:11/22/96
Non-U.S. Shares:0 Filing Price:$5.00
Primary Shares:1,200,000 Offer Price:$5.00
Secondary Shares:0 Gross Spread:$0.50
Offering Amount: $6,000,000 Selling:$0.20
Expenses:$780,000 Reallowance:$0.10
Shares Out After: -

ManagerTierPhone
Whale Securities CompanyLead Manager (212) 484-2057

Business Description
The company is engaged in the development and marketing of a variety of form processing, information recognition, and data entry systems and technologies. The company's flagship product, the Automated Form Processing System, is an advanced form processing system that automatically reads and processes the information contained in forms, reduces labor costs, and increases data capture accuracy and the rate of information processing. The company also markets two other proprietary products, FormOut! and AfterSCAN. FormOut! is an automated form processing technology that recognizes electronic form images and then removes the form template, leaving only the relevant data for processing, and reconstructs the form when needed for printout or display. The company also owns a substantial minority equity interest in Super Image, Ltd., and Israeli private company that operates a service bureau providing automated contract form processing services using AFPS.

Use of Proceeds
The proceeds from the proposed offering will be used for general corporate purposes.

Last updated: 12/29/96

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