| Ticker: SHLL | 16313 North Dale Mabry Highway, Suite 100 | |
| Exchange: NASDAQ-Small Cap Market | Tampa, Florida 33618 | |
| Industry: Retail | (813) 961-0944 |
| Type of Shares: | Common Shares | Filing Date: | 2/23/96 | |
| U.S. Shares: | 1,400,000 | Offer Date: | 4/24/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $5.00 | |
| Primary Shares: | 1,400,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.50 | |
| Offering Amount: | $7,000,000 | Selling: | ||
| Expenses: | $1,093,000 | Reallowance: | ||
| Shares Out After: | 3,062,684 |
| Manager | Tier | Phone |
| Paragon Capital Corporation | Lead Manager | (212) 742-1500 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $28.62 | Assets: | $10.44 | ||
| Net Income: | -$0.40 | Liabilities: | $9.20 | ||
| EPS: | -$0.33 | Equity: | $1.24 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company manages and operates 21 full service, mid-priced, casual dining seafood restaurants in Florida under the name "Shells." The company's concept is designed to appeal to a broad range of customers by serving generous portions of high-quality seafood and offering friendly and efficient service at an attractive price point. Shells restaurants feature a wide selection of sea-food items, including shrimp, oysters, clams, scallops, lobster, crab, crawfish and daily fresh fish specials, cooked to order in a variety of ways: steamed, sauteed, grilled, balckened and fried. In addition, the company's restaurants offer a wide selection of signature of pasta dishes, appetizers, salads and desserts. All restaurants offer full bar service with the exception of one restaurant which offers beer and wine only. All the company's restaurants are open for dinner and six are also open for lunch. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to open additional restaurants, repay debt, remodeling existing restaurants, purchase and install point-of-sale accounting systems, and for working capital and general corporate purposes. |
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