| Proposed Ticker: | MSDA | 950 22nd Street north, Suite 800 | |
| Exchange: | NASDAQ-National Market | Birmingham, Alabama 35203 | |
| Industry: | Service | (205) 323-7233 |
| All share information is proposed | ||||
| Type of Shares: | Common Shares | Filing Date: | 10/4/96 | |
| U.S. Shares Filed: | 2,400,000 | Filing Range: | $11.00 - $13.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $28,800,000 | |
| Primary Shares: | 2,400,000 | Expenses: | - | |
| Secondary Shares: | 0 | Shs Out After: | ||
| Manager | Tier | Phone |
| Robertson, Stephens & Company | Lead Manager | (415) 989-8500 |
| Lehman Brothers Incorporated | Co-manager | (212) 640-6129 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $29.70 | $12.54 | $7.65 | Assets: | $56.67 |
| Net Income: | -$12.30 | -$6.43 | -$3.75 | Liabilities: | $51.09 |
| EPS: | Equity: | $5.57 | |||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company provides security alarm monitoring services and installs and services security alarm systems for residential and small business subscribers, principally in the southern United STates. At June 30, 1996, the company had approximately 78,000 subscribers, a majority of which were residential subscribers. As a result of the company's internally generated "Safe Choice" subscriber accounts and acquisitions of subscriber account portfolios, the company has increased its monthly recurring revenue from approximately $.6 million at February 1, 1993 to approximately $2.0 million at June 30, 1996, which represents an increase in annualized MRR from $7.6 million to $24.0 million. The company believes that based upon MRR, it is one of the largest residential security alarm monitoring companies in the southern United States. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the redemption of Class A Preferred Stock and partial repayment of indebtedness outstanding under the company's credit facility. The company intends to borrow in the future under the credit facility to fund the Safe Choice marketing program, to fund acquisitions of subscriber accounts and for general corporate purposes including capital expenditures and working capital.. |
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