| Ticker: FSON | 1615 Plymouth Street | |
| Exchange: NASDAQ-National Market | Mountain View, California 94043 | |
| Industry: Service | (415) 903-4000 |
| Type of Shares: | Common Shares | Filing Date: | 4/24/96 | |
| U.S. Shares: | 2,100,000 | Offer Date: | 6/7/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 2,100,000 | Offer Price: | $13.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.91 | |
| Offering Amount: | $25,200,000 | Selling: | $0.55 | |
| Expenses: | $800,000 | Reallowance: | $0.10 | |
| Shares Out After: | 6,820,016 |
| Manager | Tier | Phone |
| UBS Securities Inc. | Lead Manager | (212) 230-4000 |
| Montgomery Securities | Co-manager | 4156272220 |
| Vector Securities International, Inc. | Co-manager | (708) 940-1970 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $0.00 | $0.00 | $0.00 | Assets: | $5.19 |
| Net Income: | -$3.28 | -$1.56 | -$0.36 | Liabilities: | $0.87 |
| EPS: | -$0.65 | -$0.30 | -$0.08 | Equity: | $4.32 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is developing proprietary wound closure products including lung resections for cancer and emphysema, procedures requiring anastomoses and minimally invasive surgeries. The company believes that these wound closure products may have broad application in a variety of surgical procedures. The company's RapiSeal bioresorbable patch and Fusion liquids are designed to effectively treat surgical wounds in a wide variety of organs and blood vessels by rapidly forming flexible air-tight and fluid-tight seals across the targeted tissue. The company believes that its wound closure products have the potential to reduce post-operative complication associated with air and fluid leaks and consequently reduce hospital costs. In a 26 patient, multi-center trial, the company's initial product, RapiSeal, was effective in treating 96% of the previously untreatable air leaks. |
| Use of Proceeds |
| Proceeds from the offering will be used to fund clinical trials, research and development, expansion of marketing and sales activities and for capital expenditures and general corporate purposes. |
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