| Ticker: PTRN | 21875 Grenada Avenue | |
| Exchange: NASDAQ-National Market | Lakeville, Minnesota 55044 | |
| Industry: Manufacturing | (612) 469-4880 |
| Type of Shares: | Common Shares | Filing Date: | 3/21/96 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 5/29/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $8.00 - $9.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $9.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.76 | |
| Offering Amount: | $17,000,000 | Selling: | $0.46 | |
| Expenses: | $400,000 | Reallowance: | $0.05 | |
| Shares Out After: | 4,837,323 |
| Manager | Tier | Phone |
| John G. Kinnard | Lead Manager | (612) 370-2922 |
| Auditor: Deloitte & Touche | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $3.36 | $1.14 | $0.22 | Assets: | $14.44 |
| Net Income: | $0.05 | $0.08 | -$0.10 | Liabilities: | $11.13 |
| EPS: | $0.01 | $0.02 | -$0.03 | Equity: | $3.31 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company develops, manufactures and markets optical and electrically conductive thin film coated products using a proprietary process technology known as Fuzion planer magnetron sputtering. This process is used to apply microscopically thin layers of metal, metal oxide, nitride, boride, carbide, floride, and diamond-like coatings to a wide variety of substrate materials. These thin film coatings provide essential optical, electrical or durability properties to a substrate material such as glass, metal or plastic. The Company believes its FUZION process represents a fundamental breakthrough in thin film coating technology. The Company's FUZION process is a continuous "in-line" production system which permits the Company to coat larger sized substrates while achieving a higher level of productivity and quality than that of competing technologies of which the Company is aware. |
| Use of Proceeds |
| The proceeds from the offering will be used to repay debt,acquisition of additional equipment and capital improvements, expand marketing and sales activities, develop new products, and for working capital and for general corporate purposes. |
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