| Medical Acquisition Corp. | |||
| Proposed Ticker: | MACC | 201 S. Biscayne Blvd., Suite 3000 | |
| Exchange: | Over-the-Counter Market | Miami, FL 33131 | |
| Industry: | Financial (SIC Code 6799) | (305) 373-9464 | |
| # of Employees: | 3 | ||
| Type of Shares: | Common Shares | Filing Date: | 11/10/97 | |
| U.S. Shares Filed: | 1,166,667 | Filing Price: | $6.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $7,000,002 | |
| Primary Shares: | 1,166,667 | Expenses: | $275,000 | |
| Secondary Shares: | 0 | Shares Out After: | 1,167,667 |
| Manager | Tier | Phone |
| G-V Capital Corp. | Lead Manager |
| Issuer's Law Firm: | Baker & McKenzie |
| Bank's Law Firm: | Feldman, David. N |
| Auditor: | Eisner, Richard A. |
| Registrar/Transfer Agent: | Corporate Stock Transfer, Inc. CO |
Dollar amounts in U.S. millions except for per share data | |||||
| 4 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 10/22/97 | 10/22/97 | ||||
| Revenue: | $0.00 | Assets: | $0.19 | ||
| Net Income: | $0.00 | Curr Assets: | |||
| EPS: | -$1.10 | Liabilities: | $0.18 | ||
| Prior EPS: | $0.00 | Curr Liabilities: | |||
| Cash Flow/Oper: | $0.15 | Equity: | $0.01 | ||
| Cash Flow/Fin: | Cash: | $0.15 | |||
| Cash Flow/Inv: | Working Cap: | $0.11 | |||
| Business Description |
| The company is a blind pool corporation. The objective of which is to effect a merger, exchange of capital stock, stock or asset acquisition or other similar type of transaction with an operating business in the healthcare industry. The Company will seek to identify and effect a Business Combination with a Target Business which provides quality healthcare-related products and/or services that have proven or potential cost savings or other advantages in their relevant markets. Management of the Company ("Management") believes that certain current key trends create favorable circumstances for the Company's Business Combination with a Target Business in the healthcare industry, including the existence of potentially attractive private market values of smaller healthcare enterprises as a result of financial and operational demands resulting from the changing dynamics of the healthcare industry, a strong desire of many private healthcare companies to achieve liquidity through the public equity markets, the trend towards consolidation in response to cost/pricing pressures, and the trend of healthcare service companies expanding into national markets to broaden the scope of their services and other factors. Accordingly, the Company believes that, despite the recent recovery of public market valuations of many companies within certain healthcare segments, there remain substantial niche opportunities to effect attractive Business Combinations in certain segments of the industry, and that, as a well-financed public entity possessing broad investment and operational expertise in the healthcare industry, it is well positioned to identify candidates to effect a Business Combination. |
| Competition |
| The healthcare industry is highly competitive. Many companies in the healthcare industry are substantially larger than the Company and have greater financial and other resources than the Company. There can be no assurance that the Company will compete successfully with such other companies. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to effect a business combination with a target business, including identifying and evaluating prospective candidates, selecting the target business and structuring, negotiating and consummating the business combination. |
| Name of Shareholder | % Owned Before | % Owned After |
| Jay M. Haft and Clayre Haft | 33.40% | |
| John H. Abeles, M.D. | 33.30% | |
| Joel S. Kanter | 33.30% |
| Officer Name | Title | Age |
| Gene E. Burleson | Chairman of the Board | 55 |
| John H. Abeles, M.D. | President and Director | 52 |
| Joel S. Kanter | Secretary, Treasurer and Director | 40 |
| Jay M. Haft | Vice-Chairman of the Board and Chief Executive Officer | 61 |
| Additional Underwriter Compensation |
| Additional compensation of $120,000. |
| Warrant to purchase 75,000 shares/units at a nominal price. |