-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NuJ+M4BsJyV5+jh2dgJqT5nrz+sA8Dar58Ogay7NywC92j9nAImTt8W3CxN8lSse VybTB7ysGV9LM7FctRktWg== 0001047469-97-008818.txt : 19971229 0001047469-97-008818.hdr.sgml : 19971229 ACCESSION NUMBER: 0001047469-97-008818 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971219 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19971224 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: IGEN INTERNATIONAL INC /DE CENTRAL INDEX KEY: 0000916304 STANDARD INDUSTRIAL CLASSIFICATION: PATENT OWNERS & LESSORS [6794] IRS NUMBER: 942852543 STATE OF INCORPORATION: CA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-23252 FILM NUMBER: 97744370 BUSINESS ADDRESS: STREET 1: 16020 INDUSTRIAL DRIVE CITY: GAITHERSBURG STATE: MD ZIP: 20877 BUSINESS PHONE: 3019848000 MAIL ADDRESS: STREET 1: 16020 INDUSTRIAL DRIVE CITY: GAITHERSBURG STATE: MD ZIP: 20877 FORMER COMPANY: FORMER CONFORMED NAME: IGEN INC /CA/ DATE OF NAME CHANGE: 19931216 8-K 1 FORM 8-K - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ---------------- Date of Report (Date of earliest event reported) December 19, 1997 Commission File Number 0-23252 IGEN INTERNATIONAL, INC. (Exact name of registrant) Delaware 94-2852543 (State of organization) (I.R.S. Employer Identification Number) 16020 Industrial Drive, Gaithersburg Maryland 20877 (Address of principal executive offices and zip code) (301) 984-8000 (Registrant's telephone Number) - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ Page 1 of 5 ITEM 5. OTHER EVENTS IGEN International, Inc. (the "Company") issued the following press notice on December 22, 1997: GAITHERSBURG, MD, December 22, 1997 -- IGEN International, Inc. (NASDAQ: IGEN) today announced the completion of a convertible, preferred stock financing for $25 million. The private financing, which was oversubscribed, was arranged by Credit Suisse First Boston Corporation and included several of the Company's current investors as well as new investor groups. "This financing provides us with the capital to continue advancing our business plan," said Samuel Wohlstadter, Chief Executive Officer of IGEN. "We believe this commitment by a premier group of current and new investors provides recognition of our progress and future prospects. We look forward to continuing to strengthen long-term relationships with all of our investors and other stakeholders." The preferred shares have not been registered under the Securities Act of 1933, as amended, or any state securities or blue sky laws and may not be offered or sold in the United States or in any state thereof absent registration or an applicable exemption from the registration requirements of such laws. IGEN develops, manufactures, and markets diagnostic systems utilizing its patented ORIGEN technology, which is based on electrochemiluminescence. ORIGEN provides uniform assay formats to conduct a multitude of diagnostic tests including immunoassay, nucleic acid probe, and clinical chemistry tests. Products using the IGEN technology include systems marketed by IGEN and its licensees, Boehringer Mannheim, Organon Teknika and Eisai. STATEMENTS IN THIS RELEASE THAT RELATE TO FINANCIAL OR OPERATIONAL PERFORMANCE ARE FORWARD-LOOKING STATEMENTS. ACTUAL RESULTS MIGHT DIFFER MATERIALLY FROM THESE STATEMENTS DUE TO RISKS AND UNCERTAINTIES, INCLUDING THE IMPACT OF COMPETITIVE PRODUCTS AND PRICING, THE TIMELY DEVELOPMENT AND MARKET ACCEPTANCE OF NEW PRODUCTS, MARKET CONDITIONS AND ENFORCEMENT OF INTELLECTUAL PROPERTY RIGHTS. A MORE DETAILED DESCRIPTION OF THESE RISKS AND OTHER RISKS APPLICABLE TO IGEN APPEARS IN IGEN'S ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED MARCH 31, 1997, FILED WITH THE SECURITIES AND EXCHANGE COMMISSION AND AVAILABLE UPON REQUEST FROM IGEN. IGEN DISCLAIMS ANY INTENT OR OBLIGATION TO UPDATE THESE FORWARD LOOKING STATEMENTS. IGEN and ORIGEN are registered trademarks of IGEN International, Inc. Attached as part of this Form 8-K and incorporated herein by reference is the IGEN International, Inc. Balance Sheet with Pro Forma Information (Unaudited) dated as of November 30, 1997. Such balance sheet sets forth data as of November 30, 1997 and gives pro forma effect to the transactions described above and resulting adjustments. This pro forma information contains estimates and projections which may differ materially from actual results. The Company ordinarily provides complete financial information in quarterly and annual reports. Insofar as the Company has not provided complete and comparable financial information as of November 30, 1997 and 1996, this information may be of limited use to the investing public. Page 2 of 5 ITEM 7. EXHIBITS Sequentially Exhibit No. Numbered Page 99 IGEN International, Inc. Balance Sheet with Pro-forma Information (Unaudited), dated as of November 30, 1997..................................1 Page 3 of 5 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. IGEN INTERNATIONAL, INC. BY: /s/ GEORGE V. MIGAUSKY _________________________________ George V. Migausky Chief Financial Officer Dated: December 24, 1997 Page 4 of 5 EX-99 2 EXHIBIT 99 EXHIBIT 99 IGEN International, Inc. Balance Sheet with Pro Forma Information (Unaudited), November 30, 1997 (In thousands, 000's omitted)
Actual (1) PROFORMA November 30, 1997 Transaction (2) November 30, 1997 ----------------- --------------- ----------------- ASSETS Cash and cash equivalents $3,516 $23,750 $27,266 Short term investments 619 619 Accounts receivable 1,443 1,443 Notes receivable 91 91 Inventory 1,582 1,582 Prepaid expenses and other assets 1,085 1,085 ----------------- --------------- ----------------- Total Currents Assets 8,336 23,750 32,086 ----------------- --------------- ----------------- Equipment, furniture and improvements 7,256 7,256 Accumulated depreciation and amortization (4,478) (4,478) ----------------- --------------- ----------------- Equipment, furniture and improvements, net 2,778 2,778 ----------------- --------------- ----------------- Other noncurrent assets 413 413 ----------------- --------------- ----------------- TOTAL ASSETS $11,527 $23,750 $35,277 ----------------- --------------- ----------------- ----------------- --------------- ----------------- LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable and accrued expenses $5,301 $100 $5,401 Deferred revenue 3,839 3,839 Obligations under capital leases 135 135 ----------------- --------------- ----------------- Total current liabilities 9,275 100 9,375 ----------------- --------------- ----------------- Stockholder's Equity: Convertible Preferred Stock, $0.001 par value, 10,000,000 shares authorized, issuable in series: Series A, 600,000 shares designated, none issued; Series B, 25,000 shares issued and outstanding 1 1 Common stock: $.001 par value, 50,000,000 shares authorized; 15,152,515 issued and outstanding 15 15 Additional paid-in capital 65,419 23,649 89,068 Accumulated deficit (62,894) (62,894) Notes receivable from sale of common stock (288) (288) ----------------- --------------- ----------------- Total stockholders' equity 2,252 23,650 25,902 ----------------- --------------- ----------------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $11,527 $23,750 $35,277 ----------------- --------------- ----------------- ----------------- --------------- -----------------
(1) The unaudited balance sheet of IGEN International, Inc. (the "Company") reflects, in the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary to present fairly the Company's financial position at November 30, 1997. (2) Transaction Summary - Issue 25,000 shares of Convertible Preferred Series B stock on December 19, 1997 in the total amount of $25 million ($23.65 million net of transaction costs). Page 5 of 5 -----END PRIVACY-ENHANCED MESSAGE-----