| Ticker: APTI | 8410 West Bryn Mawr Avenue, Suite 1100 | |
| Exchange: NASDAQ-National Market | Chicago, Illinois 60631-3486 | |
| Industry: Service | (312) 399-4200 |
| Type of Shares: | Common Shares | Filing Date: | 2/20/96 | |
| U.S. Shares: | 9,800,000 | Offer Date: | 4/25/96 | |
| Non-U.S. Shares: | 2,450,000 | Filing Range: | $15.00 - $18.00 | |
| Primary Shares: | 12,250,000 | Offer Price: | $17.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.06 | |
| Offering Amount: | $202,125,000 | Selling: | $0.64 | |
| Expenses: | $850,000 | Reallowance: | $0.10 | |
| Shares Out After: | 71,336,000 | |||
| Spin out parent firm: | Telephone and Data Systems, Inc. | |||
| Manager | Tier | Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 504-4525 |
| Goldman, Sachs & Co. | Co-manager | (212) 902-1172 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Salomon Brothers Inc. | Co-manager | (212) 783-2947 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $0.00 | Assets: | $360.44 | ||
| Net Income: | -$5.79 | Liabilities: | $79.16 | ||
| EPS: | -$0.09 | Equity: | $281.28 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is the fifth-largest licensee of personal communications services in the United States in terms of POPs, with licenses to provide service in the Minneapolis, Tampa-St.Petersburg-Orlando, Houston, Pittsburgh, Kansas City and Columbus areas. PCS is the next generation of wireless telecommunications services utilizing advanced digital technology, operating at a higher frequency than present cellular services and offering new and enhanced features. The PCS markets include approximately 27.3 POPs. The company plans to construct networks for its PCS Markets using Global System for Mobile Communication technology. The company intends to commence marketing efforts and launch commercial service in early 1997 and expects to complete initial construction of its PCS networks by the end of 1998. The company acquired eight licenses to provide PCS service in the Federal Communication Commission's broadband Block A and Block B PCS auction which concluded in March 1995. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay outstanding indebtedness to Telephone and Data Systems, Inc., to partially finance construction, development and operating costs associated with the establishment of personal communications services networks in several major areas. |
©1996 IPO Data Systems, Inc. - All rights reserved.