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Non-Tech : Invest / LTD -- Ignore unavailable to you. Want to Upgrade?

To: SJS who wrote (11648)	1/25/2000 1:12:00 PM
From: JHR	Read Replies (1) \| Respond to of 14427

Steve, just scanned the 81 page prospectus for Therma Wave.They will have 12 million shares eligble to come on the market 180 days after the public offering, probably not that unusual. The adjusted cost price for the holders of these shares is $1.52 after the offering. They've been around since 1982. The entire offering is being used to retire some debt they have at 10.25% The main holders of stock and what they will hold before and after the offering are: Bain Cap.(55%/32%) Sutton Invest.(16%/10%? Toray indst(8%/5%). Revenues are up 66% for last 9 months. They lost money in 98 and 99, but improving. Book value will be dilluted by the offering from 7.64 to 1.06. Seem to have proprietary products in their Therma Probe and Opti probe. Take this all with a grain of salt, the prospectus is 81 pages long and I spent 30 minutes on it so far. Will download it at home tonight. Offers have to be in by Friday with Fidelity.