| Ticker: CTSI | 3280 Alpine Road | |
| Exchange: NASDAQ-National Market | Portola Valley, California 94028 | |
| Industry: Manufacturing | (415) 529-0250 |
| Type of Shares: | Common Shares | Filing Date: | 3/1/96 | |
| U.S. Shares: | 4,450,000 | Offer Date: | 4/18/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $16.00 - $18.00 | |
| Primary Shares: | 4,450,000 | Offer Price: | $18.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.26 | |
| Offering Amount: | $75,650,000 | Selling: | $0.76 | |
| Expenses: | $850,000 | Reallowance: | $0.10 | |
| Shares Out After: | 12,276,663 |
| Manager | Tier | Phone |
| UBS Securities Inc. | Lead Manager | (212) 230-4000 |
| Dillon, Read & Co. Inc. | Co-manager | (212) 906-7000 |
| Montgomery Securities | Co-manager | 4156272220 |
| Piper Jaffray Incorporated | Co-manager | (612) 342-6000 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | 12/31/95 | |||
| Revenue: | $0.00 | Assets: | $3.39 | ||
| Net Income: | -$1.00 | Liabilities: | $0.17 | ||
| EPS: | -$0.11 | Equity: | $3.21 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is developing proprietary, disposable instruments and systems for performing minimally invasive cardiothoracic surgery. The company's products are being designed to enable the majority of cardiothoracic surgeons to perform Minimally Invasive Direct Coronary Artery Bypass (MIDCAB) surgery, an emerging minimally invasive revascularization procedure performed on a beating heart. The MIDCAB procedure eliminates the need for a heart-lung machine, and recent studies indicate that the MIDCAB procedure reduces the trauma, procedural costs and post-surgical complications associated with coronary artery bypass graft surgery (CABR), while providing long-term procedural success rates comparable to CABR surgery. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund product introduction, to build a sales and marketing organization, to develop and sponsor surgeon training programs, to continue investing in research and development, to purchase manufacturing and engineering equipment and to fund working capital and other general corporate purposes. |
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