| Apex PC Solutions, Inc. | |||
| Ticker: | APEX | 20031 142nd Avenue, N.E. | |
| Exchange: | NASDAQ-National Market | Woodinville, WA 98072 | |
| Industry: | Manufacturing (SIC Code 3577) | (206) 402-9393 | |
| Type of Shares: | Common Shares | Filing Date: | 12/12/96 | |
| U.S. Shares: | 3,500,000 | Offer Date: | 2/19/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.00 - $11.00 | |
| Primary Shares: | 3,500,000 | Offer Price: | $9.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.63 | |
| Offering Amount: | $35,000,000 | Selling: | $0.35 | |
| Expenses: | $850,000 | Reallowance: | $0.10 | |
| Shares Out After: | 12,160,016 |
| Manager | Tier | Phone |
| Montgomery Securities | Lead Manager | (415) 627-2100 |
| Dain Bosworth Incorporated | Co-manager | (612) 371-2818 |
| Issuer's Law Firm: | Davis, Wright, Tremaine |
| Bank's Law Firm: | Wilson, Sonsini, Goodrich & Rosati |
| Auditor: | Coopers & Lybrand |
| 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 | 9/30/96 | 9/30/95 | 9/30/96 | ||
| Revenue: | $19.67 | $23.27 | $11.79 | Assets: | $10.16 |
| Net Income: | $2.34 | $2.78 | $2.06 | Curr Assets: | |
| EPS: | $0.20 | $0.30 | $0.18 | Liabilities: | $28.78 |
| Prior EPS: | $0.59 | $1.69 | Curr Liabilities: | ||
| Cash Flow/Oper: | $2.24 | Equity: | -$18.62 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company designs, manufactures and markets stand-alone switching systems and integrated server cabinet solutions for the client/server computing market. The company's switching systems enable client/server network administrators to manage multiple servers from a single keyboard, video monitor and mouse configuration. Designed to address space, cost, administration and maintenance issues that organizations increasingly face when adopting client/server architecture, the company's sophisticated switching and integrated cabinet systems enable network administrators to manage more efficiently their organizations' complex and growing server populations. The desire of many organizations to decentralize computing power while sharing technology resources and providing broad access to enterprise data has resulted in the widespread adoption of the distributed network computing environments using a client/server architecture of interconnected PCs. |
| Competition |
| The market for the company's products is highly fragmented and competitive, and the company expects competition to increase in the future. In the market for integrated switching systems, the company competes with independent third parties such as Cybex Computer Products Corporation, Raritan Computer Inc., Rose Electronics, Elsner ComputerTechnik GmbH and StarTech Computer Accessories Ltd., many of which have greater financial marketing and technical resources than the company. |
| Business Plan |
| The company markets and sells its products through an internal sales force and various distribution channels, including OEM and reseller arrangements. To date, the company has marketed its products primarily through advertisements in trade publications, participation in major industry trade shows and the company's home page on the World Wide Web. The company maintains a sales and marketing staff of nine employees. The company's sales personnel process written and telephonic orders, support existing customers and respond to telephone inquires. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to pay indebtedness, redeem preferred stock and for general corporate purposes. |