| Ticker: VRLK | 145 Baytech Drive | |
| Exchange: NASDAQ-National Market | San Jose, California 95134 | |
| Industry: Manufacturing | (408) 945-1199 |
| Type of Shares: | Common Shares | Filing Date: | 4/25/96 | |
| U.S. Shares: | 3,700,000 | Offer Date: | 6/10/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $16.00 | |
| Secondary Shares: | 1,700,000 | Gross Spread: | $1.12 | |
| Offering Amount: | $48,100,000 | Selling: | $0.62 | |
| Expenses: | $800,000 | Reallowance: | $0.10 | |
| Shares Out After: | 12,566,104 |
| Manager | Tier | Phone |
| Hambrecht & Quist Incorporated | Lead Manager | (415) 576-3423 |
| Oppenheimer & Company, Inc. | Co-manager | (212) 667-7402 |
| Auditor: Price Waterhouse | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $31.45 | $28.68 | $22.75 | Assets: | $15.47 |
| Net Income: | $0.45 | $1.76 | $0.21 | Liabilities: | $6.05 |
| EPS: | $0.04 | $0.16 | -$0.02 | Equity: | $9.42 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company develops and manufactures integrated access products for telecommunications network service providers and corporate end users. The company's Access System 2000 product line provides flexible access solutions for a broad range of network service. The company designed the Access System 2000 with modular hardware and the company's software-based Advanced Programmable Architecture to enable its customers to access increased network capacity and to adopt new communications services in a cost-effective manner. The company's strategy is to continue to increase the functionality of the Access System 2000 product line as its customers access new network services and migrate to emerging telecommunications technologies. Corporate and consumer demand for data, voice and video transmission services is expanding worldwide, creating a need for both increased bandwidth and new communications services. |
| Use of Proceeds |
| The proceeds from the offering will be used for general corporate purposes, including working capital, purchase of capital equipment and possible acquisitions. |
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