| Ticker: PFNT | 5300 Oakbrook Parkway, Suite 320 | |
| Exchange: NASDAQ-National Market | Norcross, Georgia 30093 | |
| Industry: Service | (770) 806-6970 |
| Type of Shares: | Common Shares | Filing Date: | 12/18/95 | |
| U.S. Shares: | 3,300,000 | Offer Date: | 2/26/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 3,300,000 | Offer Price: | $10.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.70 | |
| Offering Amount: | $49,500,000 | Selling: | $0.40 | |
| Expenses: | $600,000 | Reallowance: | $0.10 | |
| Shares Out After: | 14,268,776 |
| Manager | Tier | Phone |
| PaineWebber Incorporated | Lead Manager | (212) 713-2626 |
| Legg Mason Wood Walker, Inc. | Co-manager | (410) 539-3400 |
| Auditor: Price Waterhouse | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $7.35 | Assets: | $20.05 | ||
| Net Income: | -$2.87 | Liabilities: | $27.85 | ||
| EPS: | -$0.72 | Equity: | -$7.81 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company believes that it is the largest carrier's carrier of exclusively wholesale one-way paging network services in the United States. The company's customers purchase and resell the company's network services to their subscribers. As a carrier's carrier, the company does not market paging services directly to end users and therefore does not compete with its customers for their subscribers. The company's carrier strategy is complemented by its efficient, centralized network architecture and its use of a low cost, high power paging frequency, for which it is licensed, or has licenses pending, in the 50 largest U.S. metropolitan markets and adjacent areas. The company provides high quality network services by utilizing regional Technical Control Centers that enable it to centrally control paging networks in multiple local markets within a wide geographic region. |
| Use of Proceeds |
| The proceeds from the offering will be used to finance expansion of the company's network facilities, repay debt, working capital and other general corporate purposes. |
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