| Ticker: AVEI | 5355 Skylane Boulevard | |
| Exchange: NASDAQ-National Market | Santa Rosa, California 95403 | |
| Industry: Manufacturing | (707) 525-0111 |
| Type of Shares: | Common Shares | Filing Date: | 2/1/96 | |
| U.S. Shares: | 5,000,000 | Offer Date: | 4/2/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $15.00 - $17.00 | |
| Primary Shares: | 3,500,000 | Offer Price: | $21.00 | |
| Secondary Shares: | 1,500,000 | Gross Spread: | $1.47 | |
| Offering Amount: | $80,000,000 | Selling: | $0.84 | |
| Expenses: | $850,000 | Reallowance: | $0.10 | |
| Shares Out After: | 30,103,269 |
| Manager | Tier | Phone |
| Cowen & Company | Lead Manager | (212) 495-6000 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-2000 |
| J.P. Morgan Securities Inc. | Co-manager | (212) 648-9922 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/95 | 12/31/95 | 12/31/94 | 12/31/95 | ||
| Revenue: | $17.14 | $21.71 | $4.80 | Assets: | $23.62 |
| Net Income: | $6.64 | $9.63 | $1.83 | Liabilities: | $3.52 |
| EPS: | $0.24 | $0.35 | $0.07 | Equity: | $20.10 |
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 markets a variety of stent systems and balloon agioplasty catheters for the treatment of coronary artery disease. The company's stents are used as arterial support devices in connection with balloon abioplasty or other minimally invasive treatments of atherosclerosis (the formation of deposits in the arteries) and to prevent abrupt closure of vessels in higher-risk angioplasty procedures. The company commenced operations in 1991 and began marketing its balloon angioplasty catheters in October 1994. To date, the company has sold over 43,000 stent systems and over 23,000 balloon angioplasty catheters in more than 30 countries outside the United States, including Germany, France and the United Kingdom. The company expects international sales to account for all its revenues for at least the next two years. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund sales and marketing activities, research and development, clinical trials, expansion of facilities and for working capital and other general corporate purposes. |
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