| Ticker: SLAM | 120 Interstate North Parkway East, Suite 120 | |
| Exchange: NASDAQ-National Market | Atlanta, Georgia 30339 | |
| Industry: Service | (770) 951-9511 |
| Type of Shares: | Common Shares | Filing Date: | 3/29/96 | |
| U.S. Shares: | 3,300,000 | Offer Date: | 5/23/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 3,300,000 | Offer Price: | $17.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.19 | |
| Offering Amount: | $49,500,000 | Selling: | $0.70 | |
| Expenses: | $1,350,000 | Reallowance: | $0.10 | |
| Shares Out After: | 8,052,956 |
| Manager | Tier | Phone |
| Montgomery Securities | Lead Manager | 4156272220 |
| J.C. Bradford & Co. | Co-manager | (615) 271-1334 |
| Legacy Securities Corporation | Co-manager |
| Auditor: Deloitte & Touche | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $5.19 | $1.67 | $1.14 | Assets: | $16.82 |
| Net Income: | $0.68 | $0.31 | $0.12 | Liabilities: | $16.56 |
| EPS: | Equity: | $0.26 | |||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Suburban Lodges of America, Inc. develops, owns, manages and franchises Suburban Lodge(R) facilities, which are economy extended stay lodging facilities designed to appeal to value-conscious guests seeking to "Lodge for Less". The Company believes that the Suburban Lodge chain, which was founded in 1987, was one of the first, and is one of the largest, lodging chains devoted to serving the economy extended stay market. Suburban Lodge guest rooms are fully furnished and include a combination living room and bedroom, a bathroom and a fully equipped kitchenette. Weekly maid and linen service, access to cable or satellite television and coin-operated laundromats are also provided to allow guests to stay comfortably for extended periods. Suburban Lodge facilities offer clean, comfortable and attractive accommodations to guests at substantially lower rates than most traditional and other extended stay lodging facilities. Although daily rates are available, substantially all guests pay the Company's weekly rates, which currently range from $139 to $189 per week for single occupancy and from $149 to $209 per week for double occupancy. The Company presently owns and operates eight Suburban Lodge facilities and franchises six additional Suburban Lodge facilities located in four southeastern states. |
| Use of Proceeds |
| The proceeds from the offering will be used to reduce indebtedness and acquisition related payments, for a distribution to shareholders and for general corporate purposes. |
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