| ErgoBilt, Inc. | |||
| Ticker: | ERGB | 5000 Quorum Drive, Suite 147 | |
| Exchange: | NASDAQ-National Market | Dallas, TX 75240 | |
| Industry: | Manufacturing (SIC Code 2599) | (972) 233-8504 | |
| Type of Shares: | Common Shares | Filing Date: | 10/16/96 | |
| U.S. Shares: | 1,700,000 | Offer Date: | 2/3/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $7.00 - $8.00 | |
| Primary Shares: | 1,700,000 | Offer Price: | $7.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.56 | |
| Offering Amount: | $12,750,000 | Selling: | $0.30 | |
| Expenses: | $878,000 | Reallowance: | $0.10 | |
| Shares Out After: | 5,756,000 |
| Manager | Tier | Phone |
| Cruttenden Roth Incorporated | Lead Manager | (800) 678-9147 |
| Principal/Eppler, Guerrin & Turner, Inc., The | Co-manager | (214) 880-8083 |
| Issuer's Law Firm: | Wolin, Fuller,Ridley & Miller LLP |
| Bank's Law Firm: | Gardere & Wynne |
| Auditor: | KPMG Peat Marwick |
| Registrar/Transfer Agent: | ChaseMellon Shareholder Services, L.L.C. |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 9/30/96 | 9/30/95 | 9/30/96 | ||
| Revenue: | $13.67 | $12.55 | $9.25 | Assets: | $20.81 |
| Net Income: | $0.89 | $0.70 | $0.46 | Curr Assets: | |
| EPS: | $0.16 | $0.13 | $0.08 | Liabilities: | $10.35 |
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | $0.08 | Equity: | $10.46 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a rapidly growing developer, manufacturer and marketer of customized, high-end ergonomic office furniture that re-engineers the workplace and the home office by scientifically minimizing the physical stress imposed upon the human body. To broaden its current product line of four series of premium-priced, ergonomic office chairs, the company plans to develop or acquire other ergonomic products, or enter into joint ventures or establish strategic alliances to market other ergonomic products. These products may include workstations, computer work surfaces, executive office side chairs and a second line of ergonomic chairs priced to appeal to a broader market segment. The company's objective is to become "the primary source" for ergonomic products for the workplace and the home office. |
| Competition |
| The company faces significant competition in the office furniture market. BodyBilt chairs compete on the basis of quality, health benefits, comfort, service, price, design and durability. Existing and future competitors within the office furniture industry, including Herman Miller, Inc., Steelcase Design Partnership and Haworth Group, Inc., offer or will offer ergonomic products. Many of these competitors have much greater financial and other resources, and offer a broader product line, than the company. By targeting its marketing efforts to corporate ergonomists and health, human services and safety managers rather than traditional facilities or purchasing managers, the company has been able to establish a market niche in which the company believes it is difficult for large office furniture companies. |
| Business Plan |
| As the importance and acceptance of ergonomics has penetrated the workplace and the home office, the company has experienced significant growth. The key elements of this strategy include the following: 1) increase market penetration; 2) broaden product line; 3) develop new distribution channels; 4) build consumer recognition. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to pay the cash portion of the Merger Consideration, to repay indebtedness and for working capital, capital expenditures, possible future acquisitions and other general corporate purposes. |