ENGINEERING ANIMATION, INC., ANNOUNCES INITIAL PUBLIC OFFERING.
AMES, Iowa--(BUSINESS WIRE)-- Feb. 28, 1996-- Engineering Animation, Inc. (EAI (Enterprise Application Integration) Refers to various techniques used to share data and business processes in large enterprises. When companies acquire another organization, disparate information systems have to be made to work together. ), today announced the initial public offering of 2,290,000 shares of its Common Stock at a price of $18 per share for a total offering of $41,220,000. Of the total offering, 1,825,000 shares were sold by the Company and the balance was sold by the estate of a non-management shareholder. The Company's stock is traded on the NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market under the symbol "EAII." The managing underwriters for the offering are J.P. Morgan Securities Inc. and Cowen & Company.
Engineering Animation, Inc. develops, produces and sells three-dimensional (3D) computer animation products that address visualization, animation and graphics needs of its customers in commercial markets. EAI offers three interrelated in·ter·re·late
tr. & intr.v. in·ter·re·lat·ed, in·ter·re·lat·ing, in·ter·re·lates
To place in or come into mutual relationship.
in product lines: custom animation products, which are custom 3D computer-generated animations for the litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.
When a person begins a civil lawsuit, the person enters into a process called litigation. , biomedical bi·o·med·i·cal
1. Of or relating to biomedicine.
2. Of, relating to, or involving biological, medical, and physical sciences. and scientific markets; interactive software products, which are educational 3D interactive software titles on CD-ROM CD-ROM: see compact disc.
in full compact disc read-only memory
Type of computer storage medium that is read optically (e.g., by a laser). for both academic and consumer markets; and animation software tools, which are 3D animation software tools on UNIX-based workstations. EAI's animation software tools include VisLab, a suite of software programs that provide high-speed 3D integrated visualization solutions for CAD/CAE CAD/CAE Computer Aided Design and Computer Aided Engineering markets; and VisFly, a high performance engineering visualization tool that allows interactive real time viewing of complex CAD designs.
The Company plans to use proceeds from the offering to repay debt and for general corporate purposes, including product development, sales and marketing initiatives, and computer and equipment purchases. Engineering Animation, Inc., is headquartered at 2625 North Loop Drive, Ames, Iowa 50010; Phone: 515/296-9908; Internet e-mail address: EAII@eai.com; World Wide Web home page: http://www.eai.com.
CONTACT: Lana Rushing
Public Relations, EAI
Laura Scorpiniti Edens
Vice President and General Counsel, EAI