| Ticker: BATS | 200 Madison Avenue | |
| Exchange: NASDAQ-National Market | New York, New York 10016 | |
| Industry: Retail | (212) 953-0100 |
| Type of Shares: | Common Shares | Filing Date: | 12/29/95 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 4/8/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $5.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.40 | |
| Offering Amount: | $10,000,000 | Selling: | $0.25 | |
| Expenses: | $970,000 | Reallowance: | $0.10 | |
| Shares Out After: | 3,700,000 |
| Manager | Tier | Phone |
| GKN Securities | Lead Manager | (212) 509-3800 |
| Auditor: Deloitte & Touche | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 1/31/96 | 1/31/96 | ||||
| Revenue: | $21.03 | Assets: | $9.11 | ||
| Net Income: | $0.70 | Liabilities: | $2.57 | ||
| EPS: | $0.24 | Equity: | $6.53 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company adopted a plan in May 1995 to create a nationwide battery distribution business serving the commercial, industrial and retail markets. The business is presently highly fragmented. The company believes a leader or leaders will emerge to more effectively market a very broad line of new and replacement specialty batteries and that an opportunity exists for industry consolidation through acquisitions and subsequent rationalization of the acquired businesses. The specialty battery market includes users of computers, scientific and medical equipment, photographic and industrial equipment, calculators, cellular phones, camcorders, hearing aids and military equipment. Batteries Batteries commenced operations in June 1995 upon acquiring Specific Energy Corporation for approximately $1 million in cash, debt and related expenses. The company has agreements to acquire two additional companies, Tauber Electronics, Inc. and Advanced Fox Antenna, Inc.. |
| Use of Proceeds |
| The company anticipates to use the net proceeds of this offering to pay the cash portion of the purchase price for, and repay certain indebtedness and divided obligations of, the Merger Companies; to redeem 25% of the outstanding shares of Series A Preferred Stock; and for general corporate purposes. |
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