| Ticker: IACP | 1900 Powell Street, Suite 600 | |
| Exchange: NASDAQ-National Market | Emeryville, California | |
| Industry: High-Tech | (510) 450-7000 |
| Type of Shares: | Common Shares | Filing Date: | 6/3/96 | |
| U.S. Shares: | 2,525,000 | Offer Date: | 11/8/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.00 - $11.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $6.00 | |
| Secondary Shares: | 525,000 | Gross Spread: | $0.42 | |
| Offering Amount: | $25,250,000 | Selling: | $0.23 | |
| Expenses: | $1,050,000 | Reallowance: | $0.10 | |
| Shares Out After: | 10,871,618 |
| Manager | Tier | Phone |
| Alex. Brown & Sons Incorporated | Lead Manager | (410) 727-1700 |
| SoundView Financial Group, Inc. | Co-manager | (203) 462-7200 |
| UBS Securities Inc. | Co-manager | (212) 230-4000 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 9/30/96 | 9/30/95 | 9/30/96 | ||
| Revenue: | $17.53 | $19.49 | $12.85 | Assets: | $10.28 |
| Net Income: | -$1.31 | $1.51 | -$0.92 | Liabilities: | $23.44 |
| EPS: | -$0.14 | $0.15 | Equity: | -$13.17 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company develops, markets, implements and supports software solutions for financial service organizations that require flexible automation of high-volume, complex transactions. The company currently sells two leading application framework software products for advanced cash management services, CheckVision and RemitVision, which are build upon the company's advanced, client/server work management software platform, WorkVision. The company offers scalable, enterprise-wide application framework software products that enable its customers to manage and automate their business processes from end to end. These software products are deployed through professional services that include comprehensive installation, training, ongoing maintenance, support and development services. The company's customers include GE Capital Mortgage Corporation, Harris Bank, Mellon Bank Corporation, Sanwa Bank of California and UMB Bank, NA. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used to pay approximately $4.3 million of accrued dividends on Preferred Stock, to retire indebtedness of approximately $700,000 and for general corporate purposes, including working capital. |
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