| Ticker: AKSY | 1113 S. Milwaukee Avenue, Suite 300 | |
| Exchange: NASDAQ-National Market | Libertyville, Illinois 60048 | |
| Industry: Manufacturing | (847) 247-6051 |
| Type of Shares: | Common Shares | Filing Date: | 3/19/96 | |
| U.S. Shares: | 3,100,000 | Offer Date: | 5/16/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 3,100,000 | Offer Price: | $16.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.12 | |
| Offering Amount: | $40,300,000 | Selling: | $0.67 | |
| Expenses: | $750,000 | Reallowance: | $0.10 | |
| Shares Out After: | 13,220,229 |
| Manager | Tier | Phone |
| Smith Barney Inc. | Lead Manager | (718) 921-8473 |
| Piper Jaffray Incorporated | Co-manager | (612) 342-6000 |
| Vector Securities International, Inc. | Co-manager | (708) 940-1970 |
| Auditor: KPMG Peat Marwick | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $0.00 | $0.00 | $0.00 | Assets: | $2.95 |
| Net Income: | -$5.35 | -$1.87 | -$1.09 | Liabilities: | $13.02 |
| EPS: | -$0.52 | -$0.18 | Equity: | -$10.07 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company was formed to provide hemodialysis products and services for patients suffering from end stage renal diseases, commonly known as chronic kidney failure. The company has developed an automated personal hemodialysis system, which is designed to enable patients to perform hemodialysis in a self-care setting, such as the patient's home, on a daily basis. The company believes that its products and services will offer a superior alternative to currently available kidney dialysis treatment modalities by providing better clinical outcomes, lower overall costs and improved quality of life for dialysis patients. The company has submitted a 510(k) premarket notification to the United States Food and Drug Administration to market the Aksys PHD system and if clearance is granted in 1996, the company plans commercial launch of its products and services during 1997. The company believes that hemodialysis performed on a daily basis can significantly improve clinical outcomes, reduce total treatment costs and improve the quality of life of ESRD patients. |
| Use of Proceeds |
| The proceeds from the offering will be used for manufacturing scale-up and commercialization of its automated personal hemodialysis system, which is designed to enable patients to perform dialysis procedures at home on a daily basis and for clinical studies and testing. |
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