| Castle Dental Centers, Inc. | |||
| Ticker: | CASL | 1360 Post Oak Boulevard, Suite 1300 | |
| Exchange: | NASDAQ-National Market | Houston, TX 77056 | |
| Industry: | Service (SIC Code 8021) | (713) 513-1400 | |
| Type of Shares: | Common Shares | Filing Date: | 9/3/96 | |
| U.S. Shares: | 2,500,000 | Offer Date: | 9/11/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 2,500,000 | Offer Price: | $13.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.91 | |
| Offering Amount: | $30,000,000 | Selling: | $0.55 | |
| Expenses: | $1,000,000 | Reallowance: | $0.10 | |
| Shares Out After: | 11,541,980 |
| Manager | Tier | Phone |
| J.C. Bradford & Co. | Lead Manager | (615) 748-9347 |
| Southcoast Capital Corp | Co-manager | (212) 940-9488 |
| Issuer's Law Firm: | Bracewell & Patterson |
| Bank's Law Firm: | Willkie Farr & Gallagher |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $18.26 | $10.71 | $9.08 | Assets: | $22.36 |
| Net Income: | -$2.41 | $0.03 | $0.33 | Curr Assets: | |
| EPS: | -$0.39 | $0.01 | $0.06 | Liabilities: | $26.48 |
| Prior EPS: | $0.14 | Curr Liabilities: | |||
| Cash Flow/Oper: | Equity: | -$4.12 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is one of the largest providers of dental practice management services to general, orthodontic and multi-specialty dental practices in the United States. The company currently conducts operations in the states of Texas, Florida and Tennessee and has entered into definitive agreements to acquire certain assets of and manage dental practices headquartered in Long Island, New York, serving the New York metropolitan area, and Little Rock, Arkansas, with offices in Arkansas, Oklahoma and Louisiana. The company develops integrated dental networks through affiliations with dental practices providing quality care in selected markets across the United States with a view to achieving broad geographic coverage within those markets. The company seeks to achieve operating efficiencies by consolidating and integrating affiliated practices into regional networks, realizing economies of scale in such areas as marketing, administration and purchasing and enhancing the revenues of its affiliated dental practices by increasing both patient visits and the range of specialty services offered. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund acquisitions and development programs, repay indebtedness, prepay deferred compensation obligations and increase available working capital. |