| Ticker: CVUS | 505 Park Avenue | |
| Exchange: NASDAQ-National Market | New York, New York 10022 | |
| Industry: Service | (212) 751-0900 |
| Type of Shares: | Common Shares | Filing Date: | 10/18/95 | |
| U.S. Shares: | 3,333,000 | Offer Date: | 2/8/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 3,000,000 | Offer Price: | $15.00 | |
| Secondary Shares: | 333,000 | Gross Spread: | $1.05 | |
| Offering Amount: | $49,995,000 | Selling: | $0.60 | |
| Expenses: | $2,000,000 | Reallowance: | $0.10 | |
| Shares Out After: | 16,000,000 |
| Manager | Tier | Phone |
| Dillon, Read & Co. Inc. | Lead Manager | (212) 906-7000 |
| Oppenheimer & Company, Inc. | Co-manager | (212) 667-7402 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/94 | 9/30/95 | 9/30/94 | 9/30/95 | ||
| Revenue: | $0.05 | $0.59 | $0.04 | Assets: | $12.91 |
| Net Income: | -$6.00 | -$7.92 | -$4.36 | Liabilities: | $22.83 |
| EPS: | -$0.25 | -$0.37 | Equity: | -$9.92 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company owns a multichannel broadband cellular television system in an area which includes New York City under a 1,000 MHz commercial license from the Federal Communications Commission (the FCC). The company has been operating a 49-channel broadband cellular television system in portions of Brooklyn, New York on a limited basis since 1992. The December 1995 grant to the company by the FCC of 34 applications for additional commercial transmitter sites has now put the company in a position to expand its subscription television services to cover most of the 3.2 million household New York Primary Metropolitan Statistical Area, a region consisting of New York City and three suburban counties. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to help build the company's multichannel broadband cellular television system, to purchase customer premises equipment, the repayment of debt and other general corporate purposes. |
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