| Ticker: CSRV | 5000 Arlington Centre Boulevard | |
| Exchange: NASDAQ-National Market | Columbus, Ohio 43220 | |
| Industry: High-Tech | (614) 457-8600 |
| Type of Shares: | Common Shares | Filing Date: | 2/20/96 | |
| U.S. Shares: | 12,800,000 | Offer Date: | 4/18/96 | |
| Non-U.S. Shares: | 3,200,000 | Filing Range: | $27.00 - $30.00 | |
| Primary Shares: | 16,000,000 | Offer Price: | $30.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.65 | |
| Offering Amount: | $456,000,000 | Selling: | $1.00 | |
| Expenses: | $1,800,000 | Reallowance: | $0.10 | |
| Shares Out After: | 90,200,000 | |||
| Spin out parent firm: | H&R; Block Group | |||
| Manager | Tier | Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-1172 |
| George K. Baum & Company | Co-manager | (816) 283-5332 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Auditor: Deloitte & Touche | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 4/30/95 | 1/31/96 | 1/31/95 | 1/31/96 | ||
| Revenue: | $582.79 | $577.96 | $418.70 | Assets: | $546.63 |
| Net Income: | $8.80 | $50.20 | $67.22 | Liabilities: | $292.87 |
| EPS: | $0.11 | $0.65 | Equity: | $253.76 | |
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 worldwide leader in the rapidly growing market for computer-based interactive services and data communications and is pioneering the development of consumer online and Internet access services. The company was the first online service provider to establish a major international presence, and continues to be one of the largest global online and Internet service providers. CompuServe operates what management believes is the most extensive network in the world dedicated solely to data transmission. The CompuServe Information Service (CIS), the company's flagship product, offers traditional online services and integrated Internet access. Through SPRYNET, the company also offers a stand-alone Internet-access-only service. Management believes consumer online services are a preferred access vehicle to the Internet for the average user due to the ability of online services to focus and aggregate content and provide centralized billing and support. The company operates primarily through two divisions: the Interactive Information Services Division and the Network Services Division. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay intercompany indebtedness owed by the company to H&R; Block Group, Inc., the remaining proceeds will be used for general corporate purposes. |
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