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| ORATEC Interventions, Inc. |
| 3700 Haven Court, Menlo Park, CA 94025 * (650) 369-9904 |
| Business Description | ORATEC Interventions is a leader in the development of medical devices that use controlled thermal energy to treat spine and joint disorders. |
| Offering Information Company has | |||
| Trading As | OTEC (NASNTL) | Industry | Manufacturing (SIC 3845) |
| Type of Stock Offered | Common Shares | Filing Date | 7/9/99 |
| Domestic Shares Offered | 4,000,000 | Offer Date | 4/4/00 |
| Foreign Shares Offered | 0 | Filing Range | $13.00 - $15.00 |
| Company Shares | 4,000,000 | Offer Price | $14.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.980 |
| Gross Proceeds | $56,000,000 | Selling | $0.580 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| J.P. Morgan & Co. | Co-manager | (212) 648-0517 |
| U.S. Bancorp Piper Jaffray | Co-manager | (612) 342-6220 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/96 | 12/31/97 | 12/31/98 | 12/31/99 | |||
| Revenues | - | 0.000 | 2.600 | 11.129 | 31.365 | - | - |
| Income from Oper. | - | -2.384 | -6.998 | -11.185 | - | - | - |
| Net Income | - | -2.302 | -6.832 | -11.342 | -9.669 | - | - |
| E.P.S | - | -1.000 | -1.750 | -2.830 | -2.300 | - | - |
| Revenue Growth (%) | - | - | 328.04 | 181.831 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -9.34 | - | - | ||||
| Cash Flow - Inv. | -2.74 | - | - | ||||
| Cash Flow - Fin. | 6.43 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 23.84 | Current Assets | 19.43 | Current Ratio | 1.49 |
| Total Liab. | 54.53 | Current Liab. | 13.06 | Debt Ratio | 228.71% |
| Total Equity | -30.69 | Working Cap. | 6.37 | Debt to Equity Ratio | - |
| Cash | 5.94 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for expanded sales and marketing activities, future product development, repayment of debt and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Venture Law Group |
| Bank's Law Firm | Latham & Watkins |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | Ernst & Young |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Entities associated with Venrock Associates | 10.10 | |
| Entities affiliated with Pequot Private Equity Fund, L.P. | 8.40 | |
| Entities affiliated with Delphi Ventures | 8.20 | |
| Gerlach & Co. as nominee for The Manufacturers Life Insurance Company (U.S. | 5.70 | |
| Note: represents ownership of 5% or more prior to the offering. | ||