| Proposed Ticker: MSRG | 150 A Street | |
| Exchange: NASDAQ-National Market | Needham, Massachusetts 02194 | |
| Industry: Manufacturing | (617) 444-2300 |
| All share information is proposed | ||||
| Type of Shares: | Common Shares | Filing Date: | 4/26/96 | |
| U.S. Shares Filed: | 3,000,000 | Filing Range: | $11.00 - $13.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $36,000,000 | |
| Primary Shares: | 3,000,000 | Expenses: | $800,000 | |
| Secondary Shares: | 0 | Shs Out After: | 9,265,323 | |
| Manager | Tier | Phone |
| Salomon Brothers Inc. | Lead Manager | (212) 783-2947 |
| Raymond James & Associates, Inc. | Co-manager | (813) 573-8108 |
| Vector Securities International, Inc. | Co-manager | (708) 940-1970 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $3.80 | $1.17 | $0.69 | Assets: | $5.52 |
| Net Income: | -$6.33 | -$1.50 | -$1.31 | Liabilities: | $3.91 |
| EPS: | -$1.02 | -$0.24 | Equity: | $1.61 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Microsurge designs, develops, manufactures and markets surgical instrumentation for use in minimally invasive surgery. The Company is currently developing families of surgical instrumentation for use in minimally invasive abdominal procedures, referred to as laparoscopy, and minimally invasive thoracic procedures, referred to as thoracoscopy. Microsurge's laparoscopic instrumentation is based on a novel "multi-use" design concept which seeks to address the shortcomings of, and provide an alternative to, currently available single-use disposable and traditional reusable laparoscopic instrumentation. The Company's thoracoscopic instrumentation is being developed to address a market need for a family of products specifically designed for thoracoscopic surgery. The Company began marketing its laparoscopic products in July 1993 and plans to release its first thoracoscopic products in the second half of 1996. The Company is also exploring the applicability of its product designs and technologies to other areas of minimally invasive surgery, such as cardiac and colorectal surgery. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for sales and marketing activities, research and development, to pay a license fee, repay bank debt and for general corporate purposes. |
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