| Omega Orthodontics, Inc. | |||
| Ticker: | ORTH | 3621 Silver Spur Lane | |
| Exchange: | NASDAQ-Small Cap Market | Acton, CA 93510 | |
| Industry: | Service (SIC Code 8741) | (805) 269-2841 | |
| Type of Shares: | Common Shares | Filing Date: | 5/15/97 | |
| U.S. Shares: | 1,800,000 | Offer Date: | 9/30/97 | |
| Non-U.S. Shares: | 0 | Filing Price: | $6.00 | |
| Primary Shares: | 1,800,000 | Offer Price: | $6.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.60 | |
| Offering Amount: | $10,800,000 | Selling: | $0.36 | |
| Expenses: | - | Reallowance: | $0.15 | |
| Shares Out After: | 3,800,655 |
| Manager | Tier | Phone |
| National Securities Corp. | Lead Manager | (800) 800-9217 |
| Issuer's Law Firm: | Robinson & Cole |
| Bank's Law Firm: | Orrick, Herrington & Sutcliffe |
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: | $4.62 | Assets: | $0.49 | ||
| Net Income: | $0.02 | Curr Assets: | |||
| EPS: | $0.01 | Liabilities: | $0.71 | ||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | Equity: | -$0.22 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company provides management and marketing services to orthodontic practices. Omega has provided these services on a fee for services basis to 10 orthodontic practices, including four of the Initial Orthodontic Affiliates. Following the Offering, the company intends to offer its services primarily under an affiliate relationship whereby it purchases the equity interests in the management services organization that holds certain assets of and is associated with an orthodontic practice and enters into a long term management services agreement with the practice of the selling orthodontist. The company has signed affiliation agreements with the seven Initial Orthodontic Affiliates and letters of intent with four additional practices. Upon consummation of the Acquisitions, the company will enter into Management Services Agreements, the company will provide facilities, support staff and supplies to the Initial Orthodontic Affiliates and will institute a program of systems, methods and procedures the company refers to as the Omega Exceptional Practice Model. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay the promissory notes issued in connection with Omega's bridge financing; to finance in part the Acquisitions; to finance in part future acquisitions with additional Orthodontic Affiliates; to develop or acquire certain software for use by Orthodontic Affiliates; and for working capital and other general corporate purposes. |