| Ticker: CIAO | 700 Walnut Street, Suite 300 | |
| Exchange: NASDAQ-Small Cap Market | Cincinnati, Ohio 45202 | |
| Industry: Retail | (513) 241-9161 |
| Type of Shares: | Common Shares | Filing Date: | 9/20/96 | |
| U.S. Shares: | 1,200,000 | Offer Date: | 11/22/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $7.00 | |
| Primary Shares: | 1,000,000 | Offer Price: | $7.00 | |
| Secondary Shares: | 200,000 | Gross Spread: | $0.63 | |
| Offering Amount: | $8,400,000 | Selling: | $0.37 | |
| Expenses: | $262,500 | Reallowance: | $0.10 | |
| Shares Out After: | 3,149,766 |
| Manager | Tier | Phone |
| Glaser Capital Corporation, The | Lead Manager | (513) 569-8000 |
| Auditor: Decosimo, Joseph & Company | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 7/14/96 | ||
| Revenue: | $4.78 | $4.13 | $2.56 | Assets: | $5.59 |
| Net Income: | -$0.90 | -$0.72 | -$0.51 | Liabilities: | $9.01 |
| EPS: | -$1.94 | -$1.51 | -$1.02 | Equity: | -$3.43 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company owns and operates five restaurants under the name "Ciao Baby Cucina," with locations in Washington, D.C., Hackensack, New Jersey, Cincinnati, Ohio (two restaurants) and Memphis, Tennessee. The restaurants serve authentic Mediterranean cuisine, primarily Northern Italian, with Greek Spanish and French influences. Annual revenues for the company have grown from $957,000 in 1991 to $4.8 million in 1995. The company seeks to differentiate its concept by creating restaurants that couple the ambience, food quality and personal service associated with an individual upscale, "white tablecloth" restaurant with the efficiencies and cost effective management techniques of a centrally managed restaurant chain. The company's management believes that its restaurants represent the "next generation" of restaurant chains which will be demanded by, and will be necessary to satisfy, the discriminating dining public in the twenty-first century. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay outstanding indebtedness of the company, to finance the development of new restaurants and for working capital purposes. |
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