| Ticker: FENT | 500 Davis Street, Suite 1005 | |
| Exchange: NASDAQ-National Market | Evanston, Illinois 60201 | |
| Industry: Financial | (847) 866-8665 |
| Type of Shares: | Class A Common Shares | Filing Date: | 12/11/95 | |
| U.S. Shares: | 1,886,640 | Offer Date: | 7/22/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $10.00 - $12.00 | |
| Primary Shares: | 1,500,000 | Offer Price: | $7.00 | |
| Secondary Shares: | 386,640 | Gross Spread: | $0.49 | |
| Offering Amount: | $20,753,040 | Selling: | $0.49 | |
| Expenses: | $500,000 | Reallowance: | $0.10 | |
| Shares Out After: | 4,964,289 |
| Manager | Tier | Phone |
| J.C. Bradford & Co. | Lead Manager | (615) 271-1334 |
| Chicago Corporation, The | Co-manager | (312) 855-7600 |
| Auditor: Grant Thornton | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $9.65 | $3.26 | $2.16 | Assets: | $60.52 |
| Net Income: | $2.37 | $0.93 | $0.49 | Liabilities: | $57.47 |
| EPS: | $0.42 | $0.25 | Equity: | $3.05 | |
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 which purchases and services installment sales contracts originated by auto dealers for financing the sale of used autos. The Company purchases installment contracts which provide financing for consumers who have limited access to traditional sources of credit as a result of limited credit histories, low incomes or past credit problems. Various insurance, warranty and other products are also offered by the Company, as an agent, in conjunction with purchases of installment contracts. The Company commenced operations in 1990 and began purchasing installment contracts in May 1992 through three branch offices. As of March 31, 1996, the COmpany operated 28 branch offices in eight southeastern states and currently plans to open at least five additional branch offices by the end of 1996. The principal amount of installment contracts owned and/or serviced by the Company increased 107.0% from $49.0 million at March 31, 1995 to $101.5 million at March 31, 1996. |
| Use of Proceeds |
| The proceeds from the offering will be used to repay debt and to fund a cash distribution to existing shareholders. |
©1996 IPO Data Systems, Inc. - All rights reserved.