| Ticker: IDEA | 734 Forest Street | |
| Exchange: NASDAQ-National Market | Marlborough, Massachusetts 01752-3032 | |
| Industry: Manufacturing | (508) 460-8229 |
| Type of Shares: | Common Shares | Filing Date: | 4/11/96 | |
| U.S. Shares: | 1,900,000 | Offer Date: | 6/6/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 1,900,000 | Offer Price: | $12.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.88 | |
| Offering Amount: | $22,800,000 | Selling: | $0.52 | |
| Expenses: | $600,000 | Reallowance: | $0.10 | |
| Shares Out After: | 7,259,741 |
| Manager | Tier | Phone |
| Alex. Brown & Sons Incorporated | Lead Manager | (410) 727-1700 |
| Piper Jaffray Incorporated | Co-manager | (612) 342-6000 |
| Auditor: Price Waterhouse | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $1.23 | $0.80 | $0.17 | Assets: | $6.49 |
| Net Income: | -$3.73 | -$1.15 | -$0.83 | Liabilities: | $16.13 |
| EPS: | -$0.76 | -$0.21 | -$0.17 | Equity: | -$9.65 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company designs, develops, manufactures and markets proprietary tissue repair systems which facilitate the repair of soft tissue injuries. The company's tissue repair systems are designed to be used in either open surgical or minimally invasive athroscopic procedures. Performing tissue repairs athroscopically offers several benefits, including reduced patient trauma and shorter rehabilitation times, resulting in an expedited return to full physical activity. The company's initial products consist of the ROC (Radial Oaten Compression) family of suture fasteners and related athroscopic instruments and are marketed for use in the sports medicine/arthroscopy segment of the orthopedic market. The company's suture fastener, a bone anchor with an attached suture, is deployed into bone and used to secure soft tissue, such as ligaments and tendons, to the bone. Since the commercial release of the ROC suture fastener in 1994, the company estimates that more than 4,000 surgeries, using over 12,000 of the company's suture fasteners, have been performed. The company has received 510(k) clearance or has been exempted by the United States Food and Drug Administration from the 510(k) clearance process on all products that it currently markets. |
| Use of Proceeds |
| The proceeds from the offering will be used to fund research and development, sales and marketing, manufacturing, possible acquisitions, working capital and for general corporate purposes. |
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