| Ticker: MAZL | 31000 Aurora Road | |
| Exchange: NASDAQ-National Market | Solon, Ohio 44139 | |
| Industry: Retail | (216) 248-5200 |
| Type of Shares: | Common Shares | Filing Date: | 9/11/96 | |
| U.S. Shares: | 2,574,000 | Offer Date: | 11/21/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 2,574,000 | Offer Price: | $16.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.12 | |
| Offering Amount: | $38,610,000 | Selling: | $0.62 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 8,355,000 |
| Manager | Tier | Phone |
| William Blair & Company | Lead Manager | (312) 236-1600 |
| Salomon Brothers Inc. | Co-manager | (212) 783-2947 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 1/31/96 | 7/27/96 | 7/31/95 | 7/27/96 | ||
| Revenue: | $98.11 | $85.17 | $41.70 | Assets: | $75.90 |
| Net Income: | $3.10 | $4.53 | $2.73 | Liabilities: | $55.02 |
| EPS: | Equity: | $20.89 | |||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Mazel Stores, Inc. consists of two complementary operations: 1) a major regional closeout retail business; and 2) one of the nation's largest closeout wholesale businesses. The company sells quality, value-oriented consumer products at a broad range of price points offered at a substantial discount to the original retail or wholesale price. The company acquired its retail growth, with plans to expand upon the 17 stores currently operating in the New York metropolitan area under the "Odd JOb" name. In fiscal 1995, the pro forma net sales of the company were approximately $133.9 million, including $73.8 million for the wholesale operations. In 1995, to strengthen and broaden the management team for future retail expansion, the company hired Brady Churches, President, and Jerry Sommers, Executive Vice President -- Retail, who had served as President and Executive Vice President, respectively, of COnsolidated Stores Corporation, a leading national retailer and wholesaler of closeout merchandise. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay outstanding indebtedness to the company's senior institutional lender, to pay promissory notes and to make certain payments to the company's officers and other entities in compensation and tax loans pursuant to contractual provisions in their employment and other agreements. |
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