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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Doug R who wrote (29502)	5/13/1999 2:09:00 PM
From: Bob Jagow	Read Replies (1) \| Respond to of 79270

Where do you get your data, Doug? QP is offering a $19.95 y2k special. Private rat offices vs ratpens is an unusually generous perk -- no wonder the rodents toil so gleefully. Maybe Paul R. could be prodded into fixing Parity. Bob

To: Doug R who wrote (29502)	5/13/1999 2:10:00 PM
From: Bob Jagow	Respond to of 79270

re CLZR ---- THE NAPEAGUE LETTER Thursday, May 13, 1999 Editor: Bob Davis napeague.com Candela Corporation (NASDAQ: CLZR) Last evening, it was reported that CLZR has filed a registration statement for a secondary offering of 2.8 million shares. In this offering, the Company will sell 1.5 million shares and investors will offer 1.3 million shares. These investors include Signatronics Asset Holdings Private Limited, a Singapore company plans to sell all of the 870,146 shares that it now holds. A retiring member of the Board of Directors plans to sell an additional 282,615 shares. This offering is preliminarily priced at $17.00 a share, which would generate about $22 million after expenses. The company will use its proceeds for general corporate purposes, including working capital, and possible acquisitions. The number of CLZR shares outstanding will increase to 7.04 million, a 27.1% jump. Underwriters for the stock sale will include Needham & Co. Inc. and Tucker Anthony Cleary Gull, two reputable brokerage firms who should generate substantially greater "Street" support for the stock. The additional supply of CLZR shares in the market should be absorbed by the marketing efforts ofthe two investment bankers/brokers who will now be supporting the stock. This transaction will also strengthen the internal capitalization of the Company, by adding around $22 million to its current stockholders equity, which is just under $11 million. In other words, stockholders equity increases 200% to $33 million, from $11 million at 3/31/99, while shares outstanding increase a little over 27%. This is absolutely great for current stockholders - CLZR's total assets increase $22 million, from $30 million at 3/31/99 to a total of $52 million after the transaction. The stockholders' share of those assets increases from $11 million at 3/31/99 to $33 million after the transaction. Yes, the number of shares increases 27% but the assets assignable to those shares increase 200%. This transaction is definitely not dilutive, in any way. In general, I see this as a positive development that will further strengthen the Company's balance sheet and also have a positive impact on the market for its stock. However, we may see a "bumpy" day or two, as this development is more completely digested by investors.