| Storage Dimensions, Inc. | |||
| (www.storagedimensions.com) | |||
| Ticker: | STDM | 1656 McCarthy Boulevard | |
| Exchange: | NASDAQ-National Market | Milpitas, CA 95035 | |
| Industry: | High-Tech (SIC Code 3572) | (408) 954-0710 | |
| Type of Shares: | Common Shares | Filing Date: | 1/21/97 | |
| U.S. Shares: | 2,700,000 | Offer Date: | 3/11/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $8.50 - $10.50 | |
| Primary Shares: | 2,700,000 | Offer Price: | $7.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.49 | |
| Offering Amount: | $25,650,000 | Selling: | $0.29 | |
| Expenses: | $950,000 | Reallowance: | $0.10 | |
| Shares Out After: | 7,836,623 |
| Manager | Tier | Phone |
| Smith Barney Inc. | Lead Manager | (212) 723-7300 |
| Salomon Brothers Inc. | Co-manager | (212) 783-2947 |
| Issuer's Law Firm: | Wilson, Sonsini, Goodrich & Rosati |
| Bank's Law Firm: | Gray Cary Ware & Freidenrich |
| Auditor: | Price Waterhouse |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $72.31 | Assets: | $22.90 | ||
| Net Income: | $2.12 | Curr Assets: | |||
| EPS: | $0.32 | Liabilities: | $18.27 | ||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | $0.33 | Equity: | $4.63 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company designs, manufactures, markets and supports high-performance data storage systems for open systems network applications. Storage Dimensions currently focuses on the Intel-based local area network market by developing and marketing a broad family of disk and tape storage systems that are designed to satisfy the high performance, fault-tolerance and high-availability requirements of its customers while at the same time reducing life-cycle cost of ownership. The company's products combine its proprietary software with industry standard hardware, such as disk drives, tape drives and RAID controllers, which allows the company to leverage the product development and manufacturing capabilities and efficiencies of industry OEM manufacturers and to offer its customers products that take advantage of what the company believes to be the best technology available. |
| Competition |
| The network storage system market is intensely competitive. The company competes primarily in the PC-LAN network servers, such as Compaq, Hewlett-Packard and IBM, who market storage systems as part of their complete computer systems. Storage Dimensions also competes against independent storage system suppliers to the PC-LAN server market, including DEC Storage Works, MTI Technology, Procom Technology, Inc. and StreamLogic Corporation. In addition, providers of storage for the mainframe or UNIX based market, and in particular Windows NT applications. |
| Business Plan |
| The company's objective is to leverage its position as the leading independent supplier of PC-LAN storage systems to capitalize on opportunities presented by the projected growth in thins market. The company believes it is in a unique position to capitalize on the significant growth projected for RAID network storage for PC-LAN servers, and in particular, networks using Windows NT for fileservers, database servers, the Internet and intranet communications servers and dedicated applications servers. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of outstanding debt and for working capital and other general corporate purposes. |