| Wilsons, The Leather Experts, Inc. | |||
| Ticker: | WLSN | 7401 Boone Avenue North | |
| Exchange: | NASDAQ-National Market | Brooklyn Park, MN 55428 | |
| Industry: | Retail (SIC Code 5651) | (612) 391-4000 | |
| Type of Shares: | Common Shares | Filing Date: | 10/11/96 | |
| U.S. Shares: | 1,100,000 | Offer Date: | 5/28/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 1,100,000 | Offer Price: | $9.00 | |
| Secondary Shares: | 0 | Gross Spread: | ||
| Offering Amount: | $14,300,000 | Selling: | ||
| Expenses: | $670,000 | Reallowance: | ||
| Shares Out After: | 12,000,000 |
| Manager | Tier | Phone |
| Equity Securities Trading Co, Inc. | Lead Manager | (612) 338-8901 |
| Issuer's Law Firm: | Faegre & Benson |
| Bank's Law Firm: | Morgan, Lewis & Bockius |
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 | 5/25/96 | 5/27/95 | 8/3/96 | ||
| Revenue: | $462.40 | $109.60 | $124.70 | Assets: | $103.70 |
| Net Income: | -$173.40 | -$11.10 | -$28.00 | Curr Assets: | |
| EPS: | Liabilities: | $99.80 | |||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | Equity: | $3.90 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| Wilsons is the leading specialty retailer of men's and women's leather outerwear, apparel and accessories in the United States. In 1995, the company had net sales of $462.4 million, representing a management-estimated 18.0% share of the $2.0 billion U.S. retail leather apparel market and a management market. As of October 5, 1996, the company operated 476 stores. In addition, the company operates a significant cumber of holiday stores and seasonal kiosks during its peak selling season, which for 1996 will total approximately 375 locations. Wilsons operates in 45 states, the District of Columbia and England under several formats include "Wilsons The Leather Experts," the company's traditional mall-based concepts which offer moderately priced merchandise. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to reduce the outstanding indebtedness under the company's revolving credit facility, which will enable the company to use future cash flow from operations and other financial capital expenditures for new stores and for general corporate purposes. |
| # of Units: | 1,100,000 | |||
| Unit Ticker: | - | Unit Price: | $9.00 | |
| Warrant Ticker: | WLSNW | Warrant Price: | ||
| Warrant Exercise Date: | 05/27/2000 | Warrant Exercise Price: | $13.50 | |
| Warrant Expiration Date: | ||||
| Warrant Detachable: | Yes | Warrant Detach Date: | ||
| Warrant Callable: | No |
| Unit Composition: 1 Common Share + 1 Warrant |
| Warrant Entitlement: 1 Common Share |