| Ticker: PTI | 1601 Elm Street, Suite 4700 | |
| Exchange: New York Stock Exchange | Dallas, Texas 75201 | |
| Industry: Financial | (214) 849-3700 |
| Type of Shares: | Common Shares | Filing Date: | 1/12/96 | |
| U.S. Shares: | 4,080,000 | Offer Date: | 3/21/96 | |
| Non-U.S. Shares: | 1,020,000 | Filing Range: | $16.00 - $18.00 | |
| Primary Shares: | 5,100,000 | Offer Price: | $21.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.47 | |
| Offering Amount: | $86,700,000 | Selling: | $0.90 | |
| Expenses: | $806,000 | Reallowance: | $0.10 | |
| Shares Out After: | 30,946,081 | |||
| Spin out parent firm: | First USA, Inc. | |||
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Goldman, Sachs & Co. | Co-manager | (212) 902-1172 |
| Montgomery Securities | Co-manager | 4156272220 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/95 | 12/31/95 | 12/31/94 | 12/31/95 | ||
| Revenue: | $86.63 | $55.76 | $42.28 | Assets: | $169.58 |
| Net Income: | $7.92 | $4.93 | $3.73 | Liabilities: | $89.28 |
| EPS: | $0.29 | $0.20 | $0.15 | Equity: | $80.31 |
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 Delaware corporation, which, through its wholly-owned subsidiary, First USA Merchant Services, Inc., is the third largest payment processor of merchant credits card transactions in the United States, according to industry sources. In addition, through its wholly-owned subsidiary, First USA Financial Services, Inc., the Company recently began marketing and issuing to businesses and other entities credit and charge cards that facilitate centralized business-to-business payment processing and reporting, replacing traditional direct payment methods. Merchant Services processes credit card transactions on behalf of merchants which accept credit cards as payment for goods or services. For calendar 1995, Merchant Services processed approximately $24.6 billion in sales volume and approximately 445.5 million transactions. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay a loan from First USA, balance of proceeds used for general corporate purposes. |
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