| Ticker: PHYX | Five Billerica Park, 101 Billerica Avenue | |
| Exchange: NASDAQ-National Market | North Billerica, Massachusetts 01862 | |
| Industry: Manufacturing | (508) 670-2422 |
| Type of Shares: | Common Shares | Filing Date: | 3/11/96 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 4/30/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.00 - $11.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $11.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.77 | |
| Offering Amount: | $20,000,000 | Selling: | $0.46 | |
| Expenses: | $725,000 | Reallowance: | $0.10 | |
| Shares Out After: | 5,418,956 |
| Manager | Tier | Phone |
| Wheat First Butcher & Singer Capital Markets | Lead Manager | (804) 782-3278 |
| Cruttenden Roth Incorporated | Co-manager | (800) 678-9147 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $0.32 | Assets: | $1.05 | ||
| Net Income: | -$2.77 | Liabilities: | $1.00 | ||
| EPS: | -$0.76 | Equity: | $0.05 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company designs and manufactures non invasive medical products for use in neurological monitoring applications during surgical and diagnostic procedures. The company sells its products to hospitals, clinics and physicians' offices domestically and internationally. The company's initial products are its innovative e*Net headpiece and disposable HydroDot biosensors, which are based upon the company's proprietary HydroGel technology and its custom electronics. These products are packaged as the HydroDot NeuroMonitoring System, which was developed and is sold for brain monitoring applications, such as clinical electroencephalograph procedures. The system is marketed and sold as a safer, lower cost alternative to current EEG instruments currently in use worldwide, yet offers reduced patient set-up time, more reliable data readings, and enhanced patient comfort and safety. The company has received a United States Food and Drug Administration clearance for the HydroDot NeuroMonitoring System and the product was commercially introduced in August 1994. |
| Use of Proceeds |
| Proceeds from the offering will be used to fund development activities, for expansion of marketing and sales activities, working capital, general and administrative expenses, and general corporate purposes. |
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