| Ticker: | LITH | 360 E. Jackson Street | |
| Exchange: | NASDAQ-National Market | Medford, Oregon 97501 | |
| Industry: | Retail | (541) 776-6899 |
| Type of Shares: | Class A Common Shares | Filing Date: | 10/16/96 | |
| U.S. Shares: | 2,500,000 | Offer Date: | 12/18/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $13.00 - $15.00 | |
| Primary Shares: | 2,500,000 | Offer Price: | $11.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.77 | |
| Offering Amount: | $35,000,000 | Selling: | $0.45 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | - |
| Manager | Tier | Phone |
| Furman Selz Incorporated | Lead Manager | (212) 309-8200 |
| Dain Bosworth Incorporated | Co-manager | (612) 371-2711 |
| Everen Securities, Inc. | Co-manager | (312) 574-6000 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $114.20 | $69.13 | $54.40 | Assets: | $32.12 |
| Net Income: | $2.08 | $0.97 | $0.92 | Liabilities: | $30.21 |
| EPS: | Equity: | $1.91 | |||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Lithia Motors is the largest retailer of new and used vehicles in Southwest Oregon, offering 14 domestic and imported makes of new automobiles and light trucks at five locations. As an integral part of its operations, the company also arranges related financing and insurance and sells parts, service and ancillary products. The company has grown primarily by successfully acquiring and integrated dealerships and by obtaining new dealer franchising. Most of the company's operations are currently located in Medford, Oregon, where it has a market share of over 40%. The company's strategy is to become a leading acquiror of dealerships in medium-sized markets in the western United STates. The company has recently entered into agreements to acquire additional dealerships in Eugene, Oregon and Salinas, California. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the acquisition of additional automobile dealerships, payment of distributions to existing owners of previously undistributed earnings, the repayment of debt working capital and general corporate purposes. |
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