| Ticker: AAII | 5051 New Centre Drive | |
| Exchange: NASDAQ-National Market | Wilmington, North Carolina 28403 | |
| Industry: Service | (910) 392-1606 |
| Type of Shares: | Common Shares | Filing Date: | 6/7/96 | |
| U.S. Shares: | 2,700,000 | Offer Date: | 9/19/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,700,000 | Offer Price: | $16.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.12 | |
| Offering Amount: | $35,100,000 | Selling: | $0.60 | |
| Expenses: | $900,000 | Reallowance: | $0.10 | |
| Shares Out After: | 15,880,902 |
| Manager | Tier | Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-1172 |
| Cowen & Company | Co-manager | (212) 495-6000 |
| Lehman Brothers Incorporated | Co-manager | (212) 640-6129 |
| Auditor: Price Waterhouse | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $34.64 | $20.77 | $16.60 | Assets: | $35.77 |
| Net Income: | $2.12 | $1.40 | $0.31 | Liabilities: | $12.36 |
| EPS: | $0.18 | $0.12 | Equity: | $23.41 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a leading provider of product development and support services to the worldwide pharmaceutical and biotechnology industries, offering a broad range of integrated, value-added services that span the drug life cycle. From new compound characterization and synthesis to marketed-product compliance and quality control testing. In addition, through its internal development program, the company leverages its expertise to generate additional revenue by licensing internally developed drugs and drug technologies to third parties. To date, the company has contributed to the submission, approval or continued marketing of more than 1,250 client products worldwide. As part of its internal development program, the company has licensed nine products to clients, including four products approved by FDA, and patented ten drug technologies. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for capital expenditures, geographic expansion, implementation of additional services, possible future acquisitions, working capital and other general corporate purposes. |
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