| Ticker: ULGX | 14405 21st Avenue North | |
| Exchange: NASDAQ-National Market | Minneapolis, Minnesota 55447 | |
| Industry: Manufacturing | (612) 475-1400 |
| Type of Shares: | Common Shares | Filing Date: | 4/8/96 | |
| U.S. Shares: | 2,700,000 | Offer Date: | 5/30/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,700,000 | Offer Price: | $14.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.98 | |
| Offering Amount: | $35,100,000 | Selling: | $0.56 | |
| Expenses: | $600,000 | Reallowance: | $0.10 | |
| Shares Out After: | 8,723,432 |
| Manager | Tier | Phone |
| Alex. Brown & Sons Incorporated | Lead Manager | (410) 727-1700 |
| Dain Bosworth Incorporated | Co-manager | (612) 371-2711 |
| Vector Securities International, Inc. | Co-manager | (708) 940-1970 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $0.00 | $0.00 | $0.00 | Assets: | $4.42 |
| Net Income: | -$5.43 | -$5.38 | -$3.31 | Liabilities: | $1.19 |
| EPS: | -$0.91 | -$0.90 | -$0.55 | Equity: | $3.23 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is engaged in the development of minimally-invasive medical devices for the treatment of urological disorders. The company's initial product, the Transurethral Themo-ablation Therapy (T3) System, is designed to treat benign prostatic hyperplasia (BPH), commonly known as "enlarged prostate." BPH affects millions of men as the prostate gland enlarges and causes adverse changes in urinary voiding patterns, which can dramatically impact a man's quality of life. The T3 procedure is a non-surgical, catheter-based therapy that uses a proprietary microwave technology to preferentially heat diseased areas of the prostate to a temperature sufficient to cause cell death, while simultaneously cooling and protecting the pain sensitive urethral tissue. Because the urethra is protected from heat and is not punctured or penetrated, a T3 procedure can be performed without general or regional anesthesia or intravenous sedation. Accordingly, the procedure can be performed in a low-cost setting such as a physician's office or an outpatient clinic. The company believes that the T3 System is uniquely positioned to address the unmet needs of physicians, patients and payors by providing an efficacious, safe and cost-effective procedure for the treatment of BPH without the complications and side effects inherent in current treatments. |
| Use of Proceeds |
| The proceeds from the offering will be used to fund research and development, clinical trials, sales and marketing, capital expenditures and manufacturing scale-up expenditures and for working capital and other general corporate purposes. |
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