| Ticker: DPNR | 1700 Montgomery Street, Suite 250 | |
| Exchange: NASDAQ-National Market | San Francisco, California 94111 | |
| Industry: Financial | (415) 394-9469 |
| Type of Shares: | Common Shares | Filing Date: | 10/30/95 | |
| U.S. Shares: | 2,350,000 | Offer Date: | 2/14/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $10.00 - $12.00 | |
| Primary Shares: | 2,028,856 | Offer Price: | $12.00 | |
| Secondary Shares: | 321,144 | Gross Spread: | $0.84 | |
| Offering Amount: | $25,850,000 | Selling: | $0.44 | |
| Expenses: | $900,000 | Reallowance: | $0.10 | |
| Shares Out After: | 3,939,324 | |||
| Spin out parent firm: | The Echelon Group of Companies, LLC | |||
| Manager | Tier | Phone |
| Oppenheimer & Company, Inc. | Lead Manager | (212) 667-7402 |
| Chicago Corporation, The | Co-manager | (312) 855-7600 |
| Auditor: KPMG Peat Marwick | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/94 | 9/30/95 | 9/30/95 | 9/30/95 | ||
| Revenue: | $4.44 | $5.12 | $2.86 | Assets: | $53.13 |
| Net Income: | $0.24 | $0.59 | $0.05 | Liabilities: | $48.48 |
| EPS: | $0.19 | $0.31 | Equity: | $4.66 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a nationwide specialty financial services company that provides viatical settlements for terminally ill persons. A viatical settlement is a payment of cash in return for a ownership interest in, and the right to receive the death benefits from, a life insurance policy. Viatical settlements help relieve the financial burdens of terminally ill persons, who are often faced with economic stress resulting from loss of employment and extraordinary medical expenses. The amount paid for a policy is determined by the company based on various factors, including the company's estimate of the life expectancy of the insured, the estimated premiums payable by the company under the policy over the expected life of the insured and certain other costs of the viatical settlement. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used primarily for the acquisition of life insurance policies and repayment of indebtedness, payments to affiliates with respect to prior operating expenses and related company debt and for other general corporate purposes. |
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