INTEGRATED MEASUREMENT SYSTEMS INC /OR/
S-1MEF, 1997-02-14
INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS
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<PAGE>
    AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON FEBRUARY 14, 1997
                                                      REGISTRATION NO. 333-
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                            ------------------------
                                    FORM S-1
                             REGISTRATION STATEMENT
                                     UNDER
                           THE SECURITIES ACT OF 1933
                            ------------------------
                      INTEGRATED MEASUREMENT SYSTEMS, INC.
               (Exact name of registrant as specified in charter)
 
<TABLE>
<S>                               <C>                               <C>
             OREGON                             3825                           93-0840631
(State or other jurisdiction of     (Primary Standard Industrial            (I.R.S. Employer
 incorporation or organization)     Classification Code Number)          Identification Number)
</TABLE>
 
                9525 S.W. GEMINI DRIVE, BEAVERTON, OREGON 97008
                                 (503) 626-7117
               (Address, including zip code and telephone number,
       including area code, of registrant's principal executive offices)
 
                                KEITH L. BARNES
                     PRESIDENT AND CHIEF EXECUTIVE OFFICER
                      INTEGRATED MEASUREMENT SYSTEMS, INC.
                9525 S.W. GEMINI DRIVE, BEAVERTON, OREGON 97008
                                 (503) 626-7117
            (Name, address, including zip code and telephone number,
                   including area code, of agent for service)
                           --------------------------
 
                                WITH COPIES TO:
 
<TABLE>
<S>                                                 <C>
            WILLIAM C. CAMPBELL, Esq.                            MARK A. BERTELSEN, Esq.
              STEPHEN M. GOING, Esq.                              RICHARD J. HART, Esq.
     Ater Wynne Hewitt Dodson & Skerritt, LLP                        BETSEY SUE, Esq.
          222 S.W. Columbia, Suite 1800                      Wilson Sonsini Goodrich & Rosati
              Portland, Oregon 97201                             Professional Corporation
                  (503) 226-1191                                    650 Page Mill Road
                                                               Palo Alto, California 94304
                                                                      (415) 493-9300
</TABLE>
 
                           --------------------------
 
        APPROXIMATE DATE OF COMMENCEMENT OF PROPOSED SALE TO THE PUBLIC:
   AS SOON AS PRACTICABLE AFTER THE REGISTRATION STATEMENT BECOMES EFFECTIVE.
                           --------------------------
 
    If  any of the securities being registered on this Form are to be offered on
a delayed or continuous basis pursuant to  Rule 415 under the Securities Act  of
1933, check the following box: / /
 
    If  this Form  is filed  to register  additional securities  for an offering
pursuant to Rule 462(b) under the Securities Act, please check the following box
and list  the  Securities  Act  registration statement  number  of  the  earlier
effective registration statement for the same offering. / X / 333-20495
 
    If  this Form  is a post-effective  amendment filed pursuant  to Rule 462(c)
under the Securities Act,  check the following box  and list the Securities  Act
registration  statement number  of the earlier  effective registration statement
for the same offering. /   / ________
 
    If delivery of the prospectus is expected  to be made pursuant to Rule  434,
please check the following box: / /
                           --------------------------
 
                        CALCULATION OF REGISTRATION FEE
 
<TABLE>
<CAPTION>
                                                                                 PROPOSED MAXIMUM
                                                             PROPOSED MAXIMUM       AGGREGATE
        TITLE OF EACH CLASS OF              AMOUNT TO         OFFERING PRICE      OFFERING PRICE          AMOUNT OF
     SECURITIES TO BE REGISTERED        BE REGISTERED (1)     PER SHARE (3)           (1)(3)         REGISTRATION FEE (2)
<S>                                     <C>                 <C>                 <C>                 <C>
Common Stock, $.01 par value..........   172,500 shares         $21.25              $3,665,625              $1,111
</TABLE>
 
(1) Includes 22,500 shares subject to the Underwriters' over-allotment option.
 
(2) 1,725,000 shares were registered under Securities Act Registration Statement
    No. 333-20495, whereby a filing fee of $10,455 was previously paid with such
    earlier registration statement.

(3) Estimated  solely  for  the purpose  of  calculating  the  registration fee
    pursuant to Rule  457(c) based on  the average  of the high  and low  prices
    reported on the Nasdaq National Market on February 13, 1997.
                           --------------------------
 
    THE  REGISTRANT HEREBY  AMENDS THIS REGISTRATION  STATEMENT ON  SUCH DATE OR
DATES AS MAY BE NECESSARY TO DELAY ITS EFFECTIVE DATE UNTIL THE REGISTRANT SHALL
FILE A  FURTHER  AMENDMENT  WHICH SPECIFICALLY  STATES  THAT  THIS  REGISTRATION
STATEMENT  SHALL THEREAFTER BECOME EFFECTIVE IN  ACCORDANCE WITH SECTION 8(A) OF
THE SECURITIES ACT  OF 1933  OR UNTIL  THE REGISTRATION  STATEMENT SHALL  BECOME
EFFECTIVE  ON SUCH DATE AS THE COMMISSION, ACTING PURSUANT TO SAID SECTION 8(A),
MAY DETERMINE.
 
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------

<PAGE>
               INCORPORATION OF CERTAIN INFORMATION BY REFERENCE

    This Registration Statement is filed with the Securities and Exchange
Commission (the "Commission") pursuant to Rule 462(b) under the Securities Act
of 1933, as amended (the "Securities Act"), by Integrated Measurement 
Systems, Inc. (the "Company"). In accordance with Rule 429 under the Securities
Act, this Registration Statement incorporates by reference the contents of the
Registration Statement on Form S-1 (Registration No. 333-20495) which was
declared effective by the Commission on February 13, 1997 relating to the
offering of up to 1,500,000 shares of Common Stock of the Company plus up to
225,000 shares that may be sold pursuant to the Underwriters' over-allotment
option.

                                 CERTIFICATION

    The Company hereby certifies to the Commission that (i) it has instructed
its bank to pay the Commission the filing fee set forth on the cover page of
this Registration Statement by a wire transfer of such amount to the
Commission's account at Mellon Bank as soon as practicable (but no later than
the close of business on February 14, 1997), (ii) it will not revoke such
instructions, (iii) it has sufficient funds in the relevant account to cover the
amount of such filing fee, and (iv) it will confirm receipt of such instructions
by its bank during the bank's regular business hours no later than February 14,
1997.

                                       2

<PAGE>
                                   SIGNATURES
 
    Pursuant to the requirements of the  Securities Act of 1933, the registrant 
has duly caused this Registration Statement to  be  signed on its behalf by the 
undersigned, thereunto duly authorized, in the  City  of  Beaverton,  State  of 
Oregon, on the 13th day of February, 1997.
 
                                      INTEGRATED MEASUREMENT SYSTEMS, INC.
                                      By:           /s/ KEITH L. BARNES
 
                                         ---------------------------------------
                                                     Keith L. Barnes
                                          PRESIDENT AND CHIEF EXECUTIVE OFFICER
  
    Pursuant to the  requirements  of  the  Securities  Act  of  1933,  this 
Registration Statement has been duly signed  by the following persons in the 
capacities indicated on February 13, 1997.
 
<TABLE>
<CAPTION>
                   SIGNATURE                                       TITLE
- ------------------------------------------------  ---------------------------------------
 <S>                                               <C>
              /s/ KEITH L. BARNES
     --------------------------------------       President, Chief Executive Officer and
                Keith L. Barnes                    Director (Principal Executive Officer)
 
                /s/ SAR RAMADAN
     --------------------------------------       Chief Financial Officer (Principal
                  Sar Ramadan                      Financial and Accounting Officer)
 
                       *
     --------------------------------------       Chairman of the Board
               H. Raymond Bingham
 
                       *
     --------------------------------------       Director
                C. Scott Gibson
 
                       *
     --------------------------------------       Director
                 James M. Hurd
 
                       *
     --------------------------------------       Director
                James E. Solomon
</TABLE>

* By:  /s/ KEITH L. BARNES
      -----------------------
        Keith L. Barnes
        Attorney-in-Fact
                                       3

<PAGE>
                                 EXHIBIT INDEX
 
<TABLE>
<CAPTION>

  EXHIBIT                                            DESCRIPTION
- -----------  --------------------------------------------------------------------------------------------
<S>          <C>
       5.1   Opinion of Ater Wynne Hewitt Dodson & Skerritt as to the legality of the securities being
             registered..................................................................................
      23.1   Consent of Ater Wynne Hewitt Dodson & Skerritt (included in legal opinion filed as Exhibit
             5.1)........................................................................................
      23.2   Consent of Arthur Andersen LLP..............................................................
     *24.1   Powers of Attorney .........................................................................

</TABLE>

  * Incorporated by reference to the Registration Statement  on  Form S-1 
    (File No. 333-20495) filed by Integrated Measurement Systems, Inc. on 
    January 27, 1997.


<PAGE>

                                                                   EXHIBIT 5.1

                       ATER WYNNE HEWITT DODSON & SKERRITT, LLP
                            222 S.W. Columbia, Suite 1800
                               Portland, Oregon  97201
                                (503) 226-1191 (Phone)
                                 (503) 226-0079 (Fax)


                                   January 24, 1997


Board of Directors
Integrated Measurement Systems, Inc.
9525 S.W. Gemini Drive
Beaverton, OR  97008

    We have examined the Registration Statement on Form S-1 (Registration No. 
333-20495) filed with the Securities and Exchange Commission (the 
"Commission") and declared effective on February 13, 1997 (the "Initial 
Registration Statement") and the Registration Statement on Form S-1 to be 
filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, 
by you with the Commission on February 14, 1997 (as such may be further 
amended or supplemented, collectively with the Initial Registration 
Statement, the "Registration Statements"), in connection with the 
registration under the Securities Act of 1933, as amended, of up to an 
aggregate of 1,897,500 shares (including an over-allotment option granted to 
the Underwriters to purchase 247,500 shares) of your Common Stock, par value 
$.01 per share (the "Shares") to be sold pursuant to the terms of an 
underwriting agreement (the "Underwriting Agreement") to be entered into by 
and among the Company, a shareholder of the Company, and Morgan Stanley & Co. 
Incorporated, Cowen & Company and SoundView Financial Group, Inc., as 
representatives of the several underwriters. We have examined such corporate 
records, certificates of public officials and officers of the Company and 
other documents as we have considered necessary or proper for the purpose of 
this opinion.

    Based on the foregoing and having regard to legal issues which we deem 
relevant, it is our opinion that the Shares to be sold pursuant to the 
Underwriting Agreement, when such Shares have been delivered against payment 
therefor as contemplated by the Underwriting Agreement, will be validly 
issued, fully paid and non-assessable.

    We hereby consent to the filing of this opinion as an exhibit to the 
above-mentioned Registration Statements and to the reference to this firm 
under the caption "Legal Matters" in the prospectus constituting a part of 
the Registration Statements. In giving such consent, we do not hereby admit 
that we are in the category of persons whose consent is required to be filed 
pursuant to Section 7 of the Securities Act of 1933, as amended, or the rules 
thereunder. This opinion has been prepared solely for your use in connection 
with the Registration Statement and should not be quoted in whole or in part 
or otherwise be referred to, nor be relied upon by, nor be filed with or 
furnished to any governmental agency or other person or entity, except as 
otherwise provided in this paragraph, without the prior written consent of 
this firm.

                        Very truly yours,

                        /s/ Ater Wynne Hewitt Dodson & Skerritt, LLP

                        ATER WYNNE HEWITT DODSON & SKERRITT, LLP



<PAGE>
                                                                    EXHIBIT 23.2

                   CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

    As  independent  public accountants,  we hereby  consent to  the use  of our
reports and to all  references to our firm  included in or made  a part of the
Registration Statement on Form S-1 (No. 333-20495) and related Prospectus of 
Integrated Measurement Systems, Inc. all of which are incorporated by 
reference in this Registration Statement on Form S-1 of Integrated 
Measurement Systems, Inc.

                                          ARTHUR ANDERSEN LLP

Portland, Oregon
February 12, 1997



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