| Ticker: SAGE | 112 Main Street | |
| Exchange: NASDAQ-National Market | Claremont, North Carolina 28610 | |
| Industry: Retail | (704) 459-0821 |
| Type of Shares: | Common Shares | Filing Date: | 11/2/95 | |
| U.S. Shares: | 1,700,000 | Offer Date: | 1/10/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $8.00 - $10.00 | |
| Primary Shares: | 1,700,000 | Offer Price: | $7.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.49 | |
| Offering Amount: | $15,300,000 | Selling: | $0.29 | |
| Expenses: | $530,000 | Reallowance: | $0.10 | |
| Shares Out After: | 6,200,000 |
| Manager | Tier | Phone |
| Wheat First Butcher & Singer Capital Markets | Lead Manager | (804) 782-3278 |
| Auditor: Deloitte & Touche | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/30/94 | 9/8/95 | 9/9/94 | 9/8/95 | ||
| Revenue: | $28.66 | $23.38 | $18.91 | Assets: | $9.62 |
| Net Income: | $3.16 | $2.33 | $1.91 | Liabilities: | $3.79 |
| EPS: | $0.31 | $0.23 | Equity: | $5.83 | |
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 21 Sagebrush Steakhouse and Saloon restaurants in North Carolina, Tennessee and South Carolina. Sagebrush restaurants are full-service restaurants serving high-quality, moderately-priced meals for lunch and diner in a casual, family-oriented atmosphere suggestive of a Texas roadhouse. The Company locates its restaurants in smaller cities and suburban areas where they fill a significant local market niche. The Company has been able to operate successfully in these smaller markets by tailoring its concept to appeal to a broad range of customers and minimizing the cost of opening restaurants by primarily converting existing restaurant locations to the Sagebrush concept. Sagebrush restaurants are distinguished from other family-oriented steak houses in these locations (many of which are cafeteria-style) by their full table service and attentive wait staff, full bar service, entertaining atmosphere, distinctive decor and consistently high-quality food. The Company distinguishes its restaurants from other full-service restaurants through their family orientation which is accomplished by offering lower priced food (such as hamburgers and sandwiches) at dinner, placing less emphasis on alcohol sales than do most of its combination of these factors makes its restaurant concept attractive to a broad range of consumers in the smaller cities and suburban areas where its restaurants are located. |
| Use of Proceeds |
| The proceeds from the offering will be used to develop additional restaurants, fund cash payments to shareholders in connection with the company's reorganization and other general corporate purposes. |
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