| NovAtel, Inc. | |||
| Ticker: | NGPSF | 6732 8th Street N.E. | |
| Exchange: | NASDAQ-National Market | Calgary, CANAD T2E 8M4 | |
| Industry: | Manufacturing (SIC Code 3812) | 4032954500 | |
| Type of Shares: | Common Shares | Filing Date: | 11/25/96 | |
| U.S. Shares: | 2,570,000 | Offer Date: | 2/3/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $10.00 - $12.00 | |
| Primary Shares: | 2,200,000 | Offer Price: | $7.50 | |
| Secondary Shares: | 370,000 | Gross Spread: | $0.52 | |
| Offering Amount: | $28,270,000 | Selling: | $0.29 | |
| Expenses: | $550,000 | Reallowance: | $0.10 | |
| Shares Out After: | 7,400,000 |
| Manager | Tier | Phone |
| Montgomery Securities | Lead Manager | (415) 627-2100 |
| Prudential Securities Incorporated | Co-manager | (212) 778-5420 |
| Issuer's Law Firm: | Orrick, Herrington & Sutcliffe |
| Bank's Law Firm: | Brobeck, Phleger & Harrison |
| Auditor: | Arthur Andersen |
| Registrar/Transfer Agent: | ChaseMellon Shareholder Services, L.L.C. |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 9/28/96 | 9/28/96 | |||
| Revenue: | $10.10 | $13.54 | Assets: | $11.98 | |
| Net Income: | -$8.00 | $3.44 | Curr Assets: | ||
| EPS: | -$1.54 | $0.66 | Liabilities: | $15.36 | |
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | Equity: | -$3.38 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company designs, markets and supports a broad range of products which determine precise geographic locations using the Global Positioning System. The company's GPS products are used principally for applications in high-end markets such as the surveying, geographic information systems, agriculture, aviation, marine and mining and machine control markets, rather than for applications in low end markets such as the vehicle navigation and consumer/cellular markets. The company focuses on these high-end GPS markets where users require higher performance, accuracy and reliability. The company's advanced technology provides accuracy to the sub-centimeter level while showing a high degree of integrity in dynamic environments. An innovative receiver design allows the company to use a limited number of hardware platforms to offer a variety of GPS products, which serve multiple markets, through software enhancements. This design facilitates shorter product development and production times, reduced manufacturing complexities and lower product costs. |
| Competition |
| The company believes that its ability to compete successfully depends on a number of factors, both within and outside of its control, including the performance, quality and price of the company's and its competitors' products , the timing and success of new product introductions by the company, its OEM customers and its competitors, the emergence of new GPS technologies and competing technologies, the development of technological innovations, the efficiency of production, the rate at which the company's OEM customers incorporate the company's products into their products, the number and nature of the company's competitors in a given market, the assertion of intellectual property rights and general market and economic conditions. |
| Business Plan |
| The company's objective is to strengthen its technological leadership and become a market leader in the high-end GPS markets by continuing to introduce products that address market needs and maintaining responsive and flexible customer support. Key elements of the company's strategy include: 1) focus on high-end GPS markets; 2) capitalize on strength of OEM business; 3) broaden business base; 4) provide superior customer support; 5) expand international presence. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to retire debt, finance construction of a new corporate facility and for general corporate purposes. |