| BioReliance Corporation | |||
| Ticker: | BREL | 9900 Blackville Road | |
| Exchange: | NASDAQ-National Market | Rockville, MD 20850 | |
| Industry: | Service (SIC Code 8731) | (301) 738-1000 | |
| Type of Shares: | Common Shares | Filing Date: | 4/11/97 | |
| U.S. Shares: | 2,400,000 | Offer Date: | 7/28/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,102,014 | Offer Price: | $15.00 | |
| Secondary Shares: | 297,986 | Gross Spread: | $1.05 | |
| Offering Amount: | $31,200,000 | Selling: | $0.63 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | - |
| Manager | Tier | Phone |
| Morgan Stanley Dean Witter Discover & Co. | Lead Manager | (212) 761-5900 |
| Hambrecht & Quist Incorporated | Co-manager | (415) 439-3626 |
| Issuer's Law Firm: | Fried, Frank, Harris, Shriver & Jacobson |
| Bank's Law Firm: | Davis, Polk & Wardwell |
| 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: | $37.68 | Assets: | $35.83 | ||
| Net Income: | $1.50 | Curr Assets: | |||
| EPS: | $0.26 | Liabilities: | $21.74 | ||
| Prior EPS: | $0.11 | Curr Liabilities: | |||
| Cash Flow/Oper: | $4.46 | Equity: | $14.09 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a leading contract research organization providing nonclinical testing and contract manufacturing services for biologies to biotechnology and pharmaceutical companies worldwide. The cmpany, founded in 1947 as Microbiological Associates, Inc., believes that it is the largest provider of outsourcing services focused on the rapidly growing biologics sector of the pharmaceutical industry. In 1996, the company provided services to over 600 clients, including 22 of the 25 largest pharmaceutical companies in the world as measured by revenue and 18 of the 25 largest public biopharmaceutical companies in the United States as measured by market capitalization. The company had 1996 revenue of $37.7 million and has produced a five-year compound annual revenue growth of 23%, with 25% growth in 1996 over 1995. The company believes that approximately $8 billion was spent on research and development for biotechnology products in the United States in 1996. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for capital expenditures, expansion of viral manufacturing capabilities, working capital and other general corporate purposes, including potential acquisitions. |