| Ticker: CCLNF | 4000 Hollywood Boulevard, Suite 385, South Tower | |
| Exchange: NASDAQ-National Market | Hollywood, Florida 33021 | |
| Industry: Transportation | (954) 967-2100 |
| Type of Shares: | Common Shares | Filing Date: | 2/12/96 | |
| U.S. Shares: | 1,000,000 | Offer Date: | 7/16/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $4.50 - $4.60 | |
| Primary Shares: | 500,000 | Offer Price: | $4.60 | |
| Secondary Shares: | 500,000 | Gross Spread: | $0.46 | |
| Offering Amount: | $4,550,000 | Selling: | $0.19 | |
| Expenses: | $449,716 | Reallowance: | $0.05 | |
| Shares Out After: | 5,431,933 |
| Manager | Tier | Phone |
| First Hanover Securities, Inc. | Lead Manager | (212) 269-3520 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 9/30/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $35.08 | $19.17 | $17.61 | Assets: | $47.75 |
| Net Income: | $0.25 | $0.14 | -$10.76 | Liabilities: | $38.96 |
| EPS: | $0.06 | $0.03 | Equity: | $8.80 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company owns two cruise ships, the S/S Enchanted Isle and the S/S Universal Explorer. The Enchanted Isle offers Caribbean cruises from New Orleans and the Universal Explorer is chartered to Sea-Comm, Ltd., a joint venture between the company and Seawise Foundation, Inc., which in turn has space-chartered the vessel to Seawise, which operates the educational "Semester at Sea" program during a portion of the year. Sea-Comm will operate cruises to Alaska aboard the Universal Explorer during the balance of the year. The company acquired the Enchanted Isle and the Enchanted Seas in July 1995 from Commodore Cruise Line Limited and certain of its subsidiaries. Since April 1995, the Enchanted Isle has offered seven day cruises from New Orleans to the Western Caribbean with ports-of-call at Cancun, Cozumel, Grand Cayman and Montego Bay. Revenues from the Enchanted Isle are derived from ticket sales and from certain on-board activities and services operated by the company including casino gambling, liquor sales in a variety of bars, restaurants, lounges, and a discotheque. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used for renovations to its vessels and for working capital purposes. |
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