| Ticker: CNDS | 125 Shoreway Road | |
| Exchange: NASDAQ-National Market | San Carlos, California 94070 | |
| Industry: Not Classified | (415) 508-6000 |
| Type of Shares: | Common Shares | Filing Date: | 8/5/96 | |
| U.S. Shares: | 4,000,000 | Offer Date: | 9/26/96 | |
| Non-U.S. Shares: | 1,000,000 | Filing Range: | $19.00 - $21.00 | |
| Primary Shares: | 5,000,000 | Offer Price: | $20.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.35 | |
| Offering Amount: | $100,000,000 | Selling: | $0.81 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | - |
| Manager | Tier | Phone |
| Morgan Stanley & Co. Incorporated | Lead Manager | (212) 703-4797 |
| Cowen & Company | Co-manager | (212) 495-6000 |
| Montgomery Securities | Co-manager | 4156272220 |
| Smith Barney Inc. | Co-manager | (718) 921-8473 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $2.13 | $0.42 | $1.29 | Assets: | $162.65 |
| Net Income: | -$40.96 | -$32.31 | -$12.12 | Liabilities: | $233.05 |
| EPS: | Equity: | -$70.40 | |||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company designs, builds, owns and operates innovative wireless networks capable of providing low-cost real-time status and event monitoring of up to several million endpoints. The primary application of the company's network is to provide network meter reading services to electric, gas and water utility companies pursuant to long-term contracts. The company is currently building wireless networks to provide NMR services to Kansas City Power and Light Company and Union Electric Company is St. Louis covering a total of 1,220,000 meters, of which more than 105,000 meters were in revenue service as of June 30, 1996. The company also currently provides certain network distribution automation services to electric utility customers including monitoring and control of power distribution equipment. The company's network uses radio devices fitted to existing utility meters to read and report data from each meter every few minutes. Through efficient use of radio frequency spectrum, the company's networks will have substantial additional capacity to service non-utility applications that require low-cost monitoring of fixed endpoints, such as home security and remote status monitoring of vending machines and office equipment. The company is working with industry leaders in those markets to encourage further development of such applications. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for general corporate purposes, including working capital, capital expenditures (capital expenditures and negative operating cash flow) in connection with the installation and operation of the company's networks and research and development expenses. |
©1996 IPO Data Systems, Inc. - All rights reserved.