| Univec, Inc. | |||
| Ticker: | UNVC | 999 Franklin Avenue | |
| Exchange: | NASDAQ-Small Cap Market | Garden City, NY 11530 | |
| Industry: | Manufacturing (SIC Code 3841) | (516) 294-1000 | |
| Type of Shares: | Common Shares | Filing Date: | 1/22/97 | |
| U.S. Shares: | 1,500,000 | Offer Date: | 4/28/97 | |
| Non-U.S. Shares: | 0 | Filing Price: | $3.50 | |
| Primary Shares: | 1,500,000 | Offer Price: | $3.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.31 | |
| Offering Amount: | $5,250,000 | Selling: | $0.16 | |
| Expenses: | $383,000 | Reallowance: | $0.01 | |
| Shares Out After: | 2,619,907 |
| Manager | Tier | Phone |
| Maidstone Financial, Inc. | Lead Manager | (800) 832-8830 |
| Issuer's Law Firm: | Snow Becker Krauss |
| Bank's Law Firm: | Gersten, Savage, Kaplowitz & Curtin |
| Auditor: | Coopers & Lybrand |
| Registrar/Transfer Agent: | Continental Stock Transfer & Trust Co |
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: | $1.11 | $0.28 | $0.00 | Assets: | $1.21 |
| Net Income: | -$0.95 | -$1.00 | -$0.90 | Curr Assets: | |
| EPS: | -$0.89 | -$0.95 | -$0.85 | Liabilities: | $4.62 |
| Prior EPS: | -$0.65 | -$0.66 | -$0.56 | Curr Liabilities: | |
| Cash Flow/Oper: | -$0.53 | Equity: | -$3.41 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company develops and markets safety hypodermic syringes designed to protect the healthcare worker and patient against cross-infection. The company also sells and intends to develop other hypodermic devices. The company has commenced marketing its 1cc locking clip syringes, which are designed to make accidental or deliberate reuse difficult, an plans to distribute them beginning in the first quarter of 1997. The accidental or deliberate reuse of syringes is a frequent cause of the spread of the human immunodificiency and hepatitis viruses, as well as other blood-borne pathogens. The company has received 510 (k) clearance from the U.S. Food and Drug Administration to market its locking clip syringes in the United States. Public health officials, including C. Everett Koop, have encouraged the medical industry to develop safer, more difficult to reuse, syringes, to prevent the spread of blood-borne pathogens, such as HIV and hepatitis. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for i) the purchase of equipment, ii) marketing, promotion and public relationships, iii) product development, iv) repayment of the Bridge Notes and v) working capital and general corporate purposes. |