| Ticker: ORCTF | 38 Nahalat Yitzhak Street | |
| Exchange: NASDAQ-National Market | Tel Aviv, Foreign 67448 | |
| Industry: Manufacturing |
| Type of Shares: | Ordinary Shares | Filing Date: | 8/27/96 | |
| U.S. Shares: | 3,300,000 | Offer Date: | 9/27/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,500,000 | Offer Price: | $16.00 | |
| Secondary Shares: | 800,000 | Gross Spread: | $1.12 | |
| Offering Amount: | $42,900,000 | Selling: | $0.62 | |
| Expenses: | $1,200,000 | Reallowance: | $0.10 | |
| Shares Out After: | 14,134,960 |
| Manager | Tier | Phone |
| Alex. Brown & Sons Incorporated | Lead Manager | (410) 727-1700 |
| Montgomery Securities | Co-manager | (415) 627-2220 |
| Oppenheimer & Company, Inc. | Co-manager | (212) 667-7402 |
| Auditor: Kesselman & Kesselman | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $3.45 | $3.52 | $0.46 | Assets: | $9.89 |
| Net Income: | -$2.21 | -$1.46 | -$1.11 | Liabilities: | $4.40 |
| EPS: | -$0.19 | -$0.12 | -$0.10 | Equity: | $5.49 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company designs, develops, manufactures and markets digital subscriber line systems that enable telephone companies to provide efficient, high-speed digital transmission of data, voice and video over existing telephone networks. Increasingly, consumers are demanding access to digital transmission of new data sources, the World Wide Web and commercial and telecommunications services. In particular, the significant growth in the use of the Internet has intensified demand for high-speed digital transmission. Telephone companies are under competitive pressure to meet this demand, especially given recent deregulation which allows alternate access providers and cable companies have announced their intention to deploy broadband DSL-based solutions. Orckit's CopperTrunk and FastInternet products are being designed to enable telephone companies to remain competitive, on both a service and cost basis, by optimizing bandwith utilization of the existing copper wireline infrastructure. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for product development activities, increasing marketing capabilities, working capital and other general corporate purposes. |
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