| Ticker: MEDJ | 1840 Berkshire Lane | |
| Exchange: NASDAQ-National Market | Minneapolis, Minnesota 55441 | |
| Industry: Manufacturing | (612) 553-1102 |
| Type of Shares: | Common Shares | Filing Date: | 6/24/96 | |
| U.S. Shares: | 2,200,000 | Offer Date: | 10/3/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $8.00 - $10.00 | |
| Primary Shares: | 2,200,000 | Offer Price: | $5.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.41 | |
| Offering Amount: | $19,800,000 | Selling: | $0.23 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 6,925,633 |
| Manager | Tier | Phone |
| Rodman & Renshaw, Inc. | Lead Manager | (312) 977-7824 |
| R.J. Steichen & Co. | Co-manager | (612) 341-6200 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $2.58 | $769.00 | $0.54 | Assets: | $4.33 |
| Net Income: | -$1.88 | -$0.55 | -$0.54 | Liabilities: | $1.15 |
| EPS: | -$0.36 | -$0.09 | Equity: | $3.18 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company plans to develop and produce needle-free injection systems for the self-adminstration of a wide range of injectable drugs. The Company's product, the Medi-Jector system, is a hand-held, spring powered device that injects drugs from a drug-containing front-end chamber through the skin without a needle as a narrow, high pressure stream of liquid approximately 7/1000ths of an inch in diameter. The Medi-Jector system eliminates the need to pierce the skin with a hypodermic needle and therefore is perceived by many people to be less threatening than injection with a needle. Today's Medi-Jector systems are smaller, easier to use, less expensive and more comfortable than previous needle-free injection systems. The Company believes that the key to widespread market acceptance of its needle-free injection systems depends upon continued improvements in these areas. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for capital expenditures, to improve the company's manufacturing and assembly capabilities and for market development activities, research and development, working capital and other general corporate purposes. |
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