| Ticker: TTELF | 18 Hasivim Street | |
| Exchange: NASDAQ-National Market | Petach-Tikva, Foreign 49104 | |
| Industry: Manufacturing | 7239262262 |
| Type of Shares: | Ordinary Shares | Filing Date: | 3/1/96 | |
| U.S. Shares: | 3,250,000 | Offer Date: | 3/28/96 | |
| Non-U.S. Shares: | 1,750,000 | Filing Range: | $15.00 - $17.00 | |
| Primary Shares: | 5,000,000 | Offer Price: | $15.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.82 | |
| Offering Amount: | $80,000,000 | Selling: | $0.50 | |
| Expenses: | $2,000,000 | Reallowance: | $0.10 | |
| Shares Out After: | 25,000,000 | |||
| Spin out parent firm: | Tadiran Limited | |||
| Manager | Tier | Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 640-6129 |
| Furman Selz Incorporated | Co-manager | (212) 309-8200 |
| PaineWebber Incorporated | Co-manager | (212) 713-2626 |
| Smith Barney Inc. | Co-manager | (718) 921-8473 |
| Auditor: Deloitte & Touche | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $387.53 | Assets: | $240.73 | ||
| Net Income: | $25.21 | Liabilities: | $141.62 | ||
| EPS: | $1.26 | Equity: | $99.11 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company manufactures and distributes telecommunications equipment and systems worldwide. In Israel, the Company is a leading provider of telecommunications equipment and systems and offers a comprehensive line of products for public networks and for business and residential customers. Internationally, the Company focuses primarily on developing and providing digital cross connect, wireless local loop, telephony over cable and computer telephony integration systems, all of which the Company believes represents growth areas in the telecommunications market. In Israel, the Company is a leading supplier of switching and central office equipment, transport systems, access systems and data communications equipment to Bezeq The Israel Telecommunications Corporation Ltd., Israel's telephone operating company. |
| Use of Proceeds |
| The company intends to use approximately $25.0 million of the net proceeds from the offerings to repay approximately $16.0 million of long-term indebtedness and approximately $9.0 million of short-term indebtedness and other liabilities, of which approximately $3.0 million will be repaid to Tadiran. The remainder of the proceeds is intended to be used as the Board of Directors may decide for general corporate purposes, including research and development activities, financing credit arrangements with customers, expanding worldwide marketing activities and working capital. |
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