| Ticker: PRGX | 2300 Windy Ridge Parkway, Suite 300 North | |
| Exchange: NASDAQ-National Market | Atlanta, Georgia 30339-8426 | |
| Industry: Service | (770) 955-3815 |
| Type of Shares: | Common Shares | Filing Date: | 2/7/96 | |
| U.S. Shares: | 4,600,000 | Offer Date: | 3/26/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $10.00 - $12.00 | |
| Primary Shares: | 3,400,000 | Offer Price: | $11.00 | |
| Secondary Shares: | 1,200,000 | Gross Spread: | $0.77 | |
| Offering Amount: | $50,600,000 | Selling: | $0.44 | |
| Expenses: | $875,000 | Reallowance: | $0.10 | |
| Shares Out After: | 17,621,152 |
| Manager | Tier | Phone |
| Robertson, Stephens & Company | Lead Manager | (415) 989-8500 |
| Hambrecht & Quist Incorporated | Co-manager | (415) 576-3423 |
| Robinson-Humphrey Company, Inc., The | Co-manager | (404) 266-6000 |
| Auditor: KPMG Peat Marwick | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $56.03 | Assets: | $30.27 | ||
| Net Income: | $2.63 | Liabilities: | $33.67 | ||
| EPS: | $0.19 | Equity: | -$3.40 | ||
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 leading provider of accounts payable and other audit recovery services to large retailers and other transaction-intensive companies. In businesses with large purchase volumes and continuously fluctuating purchase prices, some small percentage of erroneous overpayments to vendors is inevitable, resulting in "lost profits." The Company identifies and documents these overpayments by using sophisticated proprietary technology and advanced audit techniques and methodologies, and by employing highly trained, experienced audit recovery specialists. The Company continuously updates and refines its proprietary databases of regional and national pricing information, including seasonal allowances, discounts and rebates, but excluding confidential client data. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay debt, pay accumulated subchapter S shareholder and partnership distributions and other general corporate purposes including possible future acquisitions. |
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