| Ticker: NOVT | 4350-C International Boulevard | |
| Exchange: NASDAQ-National Market | Norcross, Georgia 30093 | |
| Industry: Wholesale | (770) 717-0904 |
| Type of Shares: | Common Shares | Filing Date: | 4/11/96 | |
| U.S. Shares: | 2,400,000 | Offer Date: | 5/23/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,400,000 | Offer Price: | $14.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.98 | |
| Offering Amount: | $31,200,000 | Selling: | $0.54 | |
| Expenses: | $475,000 | Reallowance: | $0.10 | |
| Shares Out After: | 8,076,887 |
| Manager | Tier | Phone |
| Piper Jaffray Incorporated | Lead Manager | (612) 342-6000 |
| Montgomery Securities | Co-manager | 4156272220 |
| Auditor: Ernst & Young | |||||
| 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: | $3.01 |
| Net Income: | -$3.22 | -$1.21 | -$0.63 | Liabilities: | $3.60 |
| EPS: | -$0.69 | -$0.24 | -$0.14 | Equity: | -$0.60 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Novoste Corporation is developing the King Beta-Cath System, an intraluminal beta radiation catheter delivery system designed to reduce the frequency of restenosis subsequent to percutaneous transluminal coronary angioplasty ("PTCA"). The King Beta-Cath System ("KBC System") applies localized beta radiation to the site of the vascular injury caused by a PTCA procedure and is designed to inhibit long-term cell proliferation ("hyperplasia") and vascular remodeling, each primary causes of restenosis. The KBC System was developed in collaboration with certain physicians at Emory University Hospital, including its Director of Interventional Cardiology, Dr. Spencer B. King, III. The Company is conducting a human clinical trial at Emory under an Investigational Device Exemption ("IDE") granted by the U.S. Food and Drug Administration ("FDA") to determine the clinical safety of the KBC System for use in coronary arteries. As of May 10, 1996, 11 of the 15 patients to be included in the trial had been enrolled and treated without any adverse events or complications. |
| Use of Proceeds |
| Proceeds from the offering will be used to fund human clinical trials, to establish sales and marketing capabilities, to expand manufacturing activities, to conduct further research and development projects and for general corporate purposes, including repayment of debt and working capital. |
©1996 IPO Data Systems, Inc. - All rights reserved.