| Ticker: RCCC | 2819 Highway 29 South, Midway Mall | |
| Exchange: NASDAQ-National Market | Alexandia, Minnesota 56308 | |
| Industry: Service | (612) 762-2000 |
| Type of Shares: | Class A Common Shares | Filing Date: | 12/8/95 | |
| U.S. Shares: | 3,000,000 | Offer Date: | 2/8/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.00 - $11.00 | |
| Primary Shares: | 2,419,863 | Offer Price: | $10.00 | |
| Secondary Shares: | 580,137 | Gross Spread: | $0.70 | |
| Offering Amount: | $30,000,000 | Selling: | $0.42 | |
| Expenses: | $600,000 | Reallowance: | $0.10 | |
| Shares Out After: | 8,403,283 |
| Manager | Tier | Phone |
| Dain Bosworth Incorporated | Lead Manager | (612) 371-2711 |
| Robinson-Humphrey Company, Inc., The | Co-manager | (404) 266-6000 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/94 | 9/30/95 | 9/30/94 | 9/30/95 | ||
| Revenue: | $15.69 | $14.86 | $11.19 | Assets: | $27.49 |
| Net Income: | $0.61 | $1.25 | $0.03 | Liabilities: | $21.57 |
| EPS: | $0.11 | $0.21 | -$0.01 | Equity: | $5.92 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company provides cellular communications service in five contiguous Rural Service Areas (RSAs) comprising most of the northern half of Minnesota and paging service in northern Minnesota and eastern North Dakota. The company's cellular network currently serves over 27,000 subscribers and its paging network currently servers over 3,800 subscribers. The company's cellular service area covers approximately 38,000 square miles contains major segments of Interstate 94 between Minneapolis-St. Paul and Fargo, North Dakota and Interstate 35 between Minneapolis-St. Paul and Duluth, Minnesota. The company's cellular service experiences high levels of traffic from metropolitan areas in the Upper Midwest and significant roaming revenues. RCC commenced operations in April 1991following the merger into the company of five partnerships, each holding a cellular licence for a separate RSA. |
| Use of Proceeds |
| The company intends to use substantially all of the net proceeds to repay borrowings under a loan agreement with the St. Paul Bank for Cooperatives. |
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