| Ticker: | MDWY | 3401 North California Avenue | |
| Exchange: | NASDAQ-National Market | Chicago, Illinois 60618 | |
| Industry: | Manufacturing | (312) 961-2222 |
| Type of Shares: | Common Shares | Filing Date: | 9/13/96 | |
| U.S. Shares: | 5,100,000 | Offer Date: | 10/29/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $20.00 - $22.00 | |
| Primary Shares: | 5,100,000 | Offer Price: | $20.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.40 | |
| Offering Amount: | $107,100,000 | Selling: | $0.85 | |
| Expenses: | $1,200,000 | Reallowance: | $0.10 | |
| Shares Out After: | 38,500,000 | |||
| Spin out parent firm: | WMS Industries, Inc. | |||
| Manager | Tier | Phone |
| Oppenheimer & Company, Inc. | Lead Manager | (212) 667-7402 |
| Hambrecht & Quist Incorporated | Co-manager | (415) 576-3423 |
| UBS Securities Inc. | Co-manager | (212) 230-4000 |
| Wasserstein Perella Securities | Co-manager | (212) 969-2611 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/96 | 6/30/96 | ||||
| Revenue: | $245.42 | Assets: | $118.26 | ||
| Net Income: | $25.23 | Liabilities: | $112.77 | ||
| EPS: | $0.76 | Equity: | $5.49 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a leading designer, publisher and marketer of interactive entertainment software played in both the coin-operated and home markets. Since the late 1970s , Midway has released many of the industry's leading games including Mortal Kombat, Cruis'n USA, NBA Jam, Joust, Defender, Pacman and Space Invaders, and, through its recently acquired Atari Games subsidiary, such leading games as Area 51, Gauntlet, Centipede, Asteroids and Pong. Midway's games are available for play on all major dedicated home video game platforms, including Nintendo, Sony and Sega, and personal computers. Midway began to publish home video games based on its own coin-operated video games in September 1995 with the introduction of Mortal Kombat 3, the best selling home video game in the United States in 1995. Prior to that time Midway had granted Acclaim Entertainment the right to publish home versions of most coin-operated video games released by Midway for a modest royalty. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for working capital and general corporate purposes, to pay dividend notes to WMS in the aggregate amount of $50 million and to repay other seasonal working capital. |
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