| Ticker: TAXI | 205 East 42nd Street, Suite 2020 | |
| Exchange: NASDAQ-National Market | New York, New York 10017 | |
| Industry: Financial | (212) 682-3300 |
| Type of Shares: | Common Shares | Filing Date: | 2/26/96 | |
| U.S. Shares: | 5,000,000 | Offer Date: | 5/23/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $10.00 - $12.00 | |
| Primary Shares: | 5,000,000 | Offer Price: | $11.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.77 | |
| Offering Amount: | $55,000,000 | Selling: | $0.46 | |
| Expenses: | $1,850,000 | Reallowance: | $0.10 | |
| Shares Out After: | 7,500,000 |
| Manager | Tier | Phone |
| Furman Selz Incorporated | Lead Manager | (212) 309-8200 |
| Everen Securities, Inc. | Co-manager | (312) 574-6000 |
| J.C. Bradford & Co. | Co-manager | (615) 271-1334 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $16.55 | Assets: | $159.44 | ||
| Net Income: | $5.40 | Liabilities: | $110.14 | ||
| EPS: | $0.72 | Equity: | $49.30 | ||
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 specialty finance company originating and servicing loans financing the purchase of taxicab medallions and related assets. The company also originates and services commercial installment loans financing small businesses in other targeted industries. In addition, the company operates a taxicab rooftop advertising business. Management of the company has successfully operated Tri-Magna, an investment company registered under the 1940 Act, since it began its medallion lending operations in 1979. Tri-Magna is the largest of the three Founding Companies being acquired by the company in connection with the Offering. Since 1979 the company has originated, on a combined basis, approximately $511 million in Medallion Loans in New York City, Boston, Chicago, Cambridge, Newark, Philadelphia and Hartford. |
| Use of Proceeds |
| The proceeds from the offering will be used to pay the purchase price for the founding companies, pay debt and to pay investment advisory fees. |
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