SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-C
REPORT BY ISSUER OF SECURITIES QUOTED ON AMEX
INTERDEALER QUOTATION SYSTEM
Filed pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 and Rule 13a-176
or 15d-17 thereunder
CARDIOTECH INTERNATIONAL, INC.
(Exact name of issuer as specified in charter)
11 State Street
Woburn, Massachusetts 01801
(Address of principal executive offices)
Issuer's telephone number, including area code: (617) 933-4772
I. CHANGE IN NUMBER OF SHARES OUTSTANDING
Indicate any change (increase or decrease) of 5% or more in the number of
shares outstanding:
1. Title of security: Common Stock
2. Number of shares outstanding before the change: 3,805,390
3. Number of shares outstanding after the change: 4,244,116
4. Effective date of change: June 18, 1996
5. Method of change:
Specify method (such as merger, acquisition, exchange, distribution, stock
split, reverse split, acquisition of stock for treasury, etc.):
Adjustment pursuant to spin-off.
Give a brief description of the transaction: On June 11, 1996, PolyMedica
Industries, Inc. ("PolyMedica") distributed all of the shares (the "Spin
Off") of its majority-owned subsidiary, CardioTech International, Inc.
("CardioTech"), held by it to its shareholders of record on June 3, 1996
(the "Record Date"). In connection with the Spin Off, CardioTech agreed to
issue an additional 438,726 shares of its Common Stock for distribution to
PolyMedica's shareholders of record on the Record Date, and, accordingly,
the number of shares of Common Stock outstanding has increased from
3,805,390 to 4,244,116.
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Date: June 27, 1996 By/s/ Michael Szycher
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Michael Szycher, Ph.D.
Its Chairman and Chief Executive Officer
