| Ticker: OCAL | 14538 Keswick Street | |
| Exchange: NASDAQ-National Market | Van Nuys, California 91405 | |
| Industry: Manufacturing | (818) 782-0711 |
| Type of Shares: | Class A Common Shares | Filing Date: | 8/29/95 | |
| U.S. Shares: | 2,200,000 | Offer Date: | 3/12/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $8.00 - $10.00 | |
| Primary Shares: | 2,200,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.40 | |
| Offering Amount: | $19,800,000 | Selling: | $0.24 | |
| Expenses: | $1,330,000 | Reallowance: | $0.10 | |
| Shares Out After: | 5,450,000 |
| Manager | Tier | Phone |
| Hampshire Securities Corporation | Lead Manager | (212) 444-2144 |
| Americorp Securities Inc. | Co-manager | (800) 758-6556 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $24.89 | Assets: | $14.29 | ||
| Net Income: | $1.08 | Liabilities: | $9.04 | ||
| EPS: | $0.66 | Equity: | $5.26 | ||
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 maker of polyvinyl chloride, or PVC, coated steel conduit used in plant construction and maintenance. Building codes throughout the United States require that electrical wiring systems be protected by conduit or other means. Alternative forms of protection for electrical wiring systems include PVC-coated conduit, RSC, plastic conduit, aluminum conduit, cable tray, pre-wired armored cable integrating the functions of electrical wire and conduit into one system, thinner-walled versions of metal conduit called intermediate metallic conduit and electrical metallic tubing. While each of the above alternative forms of protection generally has an initial product and installation cost advantage over the Company's products, the Company believes that in corrosive environments its products are more cost-effective on a life-cycle cost basis. |
| Use of Proceeds |
| Approximately $3 million of such net proceeds will be used to reduce the outstanding amount under the company's revolving line of credit with SouthTrust Bank of Alabama. The balance of the net proceeds, together with the repayment of the loan owed to Mr. Bender to Occidental, the proceeds from the exercise of the Representative's over-allotment option, if any, the company's revolving line of credit and funds from operations, will be utilized to improve manufacturing processes, to expand marketing staff, and for general corporate purposes, including the possible investment in, acquisition of, or joint ventures or strategic alliances with, complementary businesses. |
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