Smaller Company Initial Public Offerings: March 1981

Tweet

OFFERING

Company Business Size Price P/E 12-month Underwriter

($000) sales

($000)

Autoclave High-pressure 8,775 13.50 18 24,755 Unterberg,

Towbin

Engineers Inc. equipment

Biotech Research Biomedical 3,594 6.25 336 1,215 Schoenberg,

Laboratories Inc. and genetic Hieber Inc.

research

Cetus Corp. Genetic 120,174 23 a 9,622 Lehman Bros.

engineering Kuhn, Loeb/

L. F.

Rothschild,

Unterberg,

Towbin

Consolidated Oil and gas 11,250 12.50 52 550,488 Bateman,

Eichler,

Petroleum drilling Hill,

Richards/

Industries Inc. Carr, Sebag

Delta Drilling Co. Oil and gas 35,000 17.50 16 160,935 Morgan

Stanley/

drilling Rotan Mosle

Delta Natural Gas distributor 4,625 9.25 9 17,594 Thomson,

McKinnon

Gas Inc. Securities

Duralith Corp. Control panels 11,625 15.50 15 11,365 Donaldson,

Lufkin

& Jenrette/

Janney

Montgomery

& Scott

Emulex Corp. Computer 8,950 12 33 4,733 L. F.

Rothschild,

controllers Unterberg,

Towbin/

Robertson,

Colman,

Stevens

& Woodman

Energy Utility meters 2,000 2.00 b 11 Quinn & Co.

Optics Inc.

HEI Inc. Optoelectronic 3,238 9.25 13 6,358 Dain

Bosworth/

parts Craig, Hallum

Infotron Computer 25,500 25.50 37 19,626 Alex Brown

& Sons/

Systems Corp. equipment Merrill Lynch

White Weld

Capital

Markets Group

Laser Surgical lasers 5,425 7.75 258 1,072 Rooney, Pace

Industries Ltd.

Major Oil and gas 6,000 c d d Fittin,

4

Cunningham

Exploration Inc. exploration & Lauzon

Object Microcomputer- 5,775 7 b 45 Faherty

& Faherty

Recognition based vision Inc.

Systems Inc. systems

Sage Drilling Oil and gas 8,250 16.50 19 12,264 Stiffel,

Nicolaus

Co. Inc. drilling

SEI Corp. Trust 11,900 17 20 23,060 Donaldson,

Lufkin

management & Jenrette

systems

Starbrite Corp. Appearance 2,500 2 b 6,465 John Muir

& Co.

products

Sterling Pipe & Oilfield 6,300 10.50 18 48,644 Schneider,

Bernet

Supply Co. equipment & Hickman

Technology Computer software 4,620 6 30 4,275 Montano

Securities

Marketing Inc.

Times Fiber Cable 35,100 19.50 26 100,316 Lehman Bros.

Communications manufacture Kuhn, Loeb/

Inc. First Boston

Co.

Ventrex Medical 4,625 9.25 b 2,454 Rooney, Pace

Laboratories Inc. diagnostic

equipment

a Nonmeaningful figure

b Net loss

c Units consisting of one common share and one warrant

d No operating history

Data: New Issues, The Institute for Econometric Research Inc., 3471 N. Federal Highway, Ft. Lauderdale, FL 33306