| Ticker: USSB | 3415 University Avenue | |
| Exchange: NASDAQ-National Market | St. Paul, Minnesota 55114 | |
| Industry: Service | (612) 645-4500 |
| Type of Shares: | Class A Common Shares | Filing Date: | 12/1/95 | |
| U.S. Shares: | 6,650,000 | Offer Date: | 1/31/96 | |
| Non-U.S. Shares: | 1,650,000 | Filing Range: | $21.00 - $24.00 | |
| Primary Shares: | 8,300,000 | Offer Price: | $27.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.68 | |
| Offering Amount: | $186,750,000 | Selling: | $1.01 | |
| Expenses: | $1,300,000 | Reallowance: | $0.10 | |
| Shares Out After: | 89,810,775 |
| Manager | Tier | Phone |
| CS First Boston | Lead Manager | (212) 909-3312 |
| Goldman, Sachs & Co. | Co-manager | (212) 902-1172 |
| Invemed Associates Inc. | Co-manager | (212) 421-2500 |
| Schroder Wertheim & Company, Incorporated | Co-manager | (212) 492-6900 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/95 | 12/31/95 | 12/31/94 | 12/31/95 | ||
| Revenue: | $42.34 | $70.72 | $5.13 | Assets: | $149.57 |
| Net Income: | -$74.72 | -$54.68 | -$38.02 | Liabilities: | $198.54 |
| EPS: | -$0.83 | -$0.61 | -$0.42 | Equity: | -$48.97 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is one of two providers of subscription television programming via high-power direct broadcast satellite to households throughout the continental U.S. The company broadcasts a high quality digital television signal using the Digital Satellite System broadcasting system. The company's programming is available to virtually all of the approximately 96 million U.S. television households upon the purchase of a DSS unit, which features an 18 inch satellite dish. The company delivers up to 25 channels of video programming, including premium networks such as Multichannel HBO, Multichannel Showtime, Multichannel Cinemax, etc. The company broadcasts from a single satellite, DBS-1, which broadcasts to the entire continental U.S. with minimal signal interference, given its favorable orbital location at 101 degrees west longitude, the higher power of its transponders and its greater orbital spacing compared to competing satellite systems. |
| Use of Proceeds |
| The company intends to use up to $80 million of the net proceeds for marketing and promotional expenses. The balance will be used for general corporate purposes, which may include one or more of the following: 1) Capital expenditures in connection with increasing transponder power which would increase channel capacity and provide redundancy in the event of certain satellite failures, 2) Repayment of amounts outstanding under the Credit Agreement and 3) Progress payments to Lockheed Martin for satellites required by the Permit for high-power DBS systems at 110 and 148 degree west longitude. |
©1996 IPO Data Systems, Inc. - All rights reserved.