EP Technologies
This article was originally published in The Gray Sheet
Executive Summary
Going public via an initial public offering of 2.5 mil. shares priced between $10 and $12 per share. The company will use the expected net proceeds of $25 mil. to expand its sales and marketing efforts, for research and development activities and for capital equipment, working capital and other corporate purposes. Shares outstanding after the offering will number approximately 9.2 mil. Alex. Brown & Sons and Hambrecht & Quist are underwriting. The firm notes in its registration statement with the Securities and Exchange Commission that a trial date of March 29 has been set to resolve its suit against CardioRhythm, a direct competitor owned by Medtronic. Filed in February 1992 against CardioRhythm and two former EP consultants, the suit alleges misappropriation of trade secrets, unfair competition, breach of implied and written contract and other causes of action. An August 1992 countersuit was filed.
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