| Ticker: UGLY | 2525 East Camelback Road, Suite 1150 | |
| Exchange: NASDAQ-National Market | Phoenix, Arizona 85016 | |
| Industry: Retail | (800) 843-3825 |
| Type of Shares: | Common Shares | Filing Date: | 4/25/96 | |
| U.S. Shares: | 2,300,000 | Offer Date: | 6/17/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $6.00 - $7.50 | |
| Primary Shares: | 2,300,000 | Offer Price: | $6.75 | |
| Secondary Shares: | 0 | Gross Spread: | $0.51 | |
| Offering Amount: | $15,525,000 | Selling: | $0.28 | |
| Expenses: | $1,262,500 | Reallowance: | $0.10 | |
| Shares Out After: | 8,324,044 |
| Manager | Tier | Phone |
| Cruttenden Roth Incorporated | Lead Manager | (800) 678-9147 |
| Auditor: KPMG Peat Marwick | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $58.20 | $19.40 | $11.55 | Assets: | $61.66 |
| Net Income: | -$3.97 | $0.77 | -$0.47 | Liabilities: | $45.88 |
| EPS: | -$0.67 | $0.13 | -$0.08 | Equity: | $15.78 |
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 used car sales and finance company that operates "buy here/pay here" used car dealerships in Arizona. As part of its activities, the Company underwrites, finances and services installment contracts generated by its dealerships and by third party used car dealerships located in selected markets throughout the United States. The Company targets customers who have limited credit histories, low incomes, or past credit problems. The rapidly growing used car sales and finance industry achieved record sales in 1995 of 30.5 million units, representing approximately $290 billion in sales. During this same period, more than $185 billion in retail installment contracts were originated through the sale of used cars. Of this amount, approximately 19.2 million units were sold to Sub-Prime Borrowers, generating $124 billion in retail installment contracts. |
| Use of Proceeds |
| The proceeds from the offering will be used for repayment of debt, with increased borrowing capacity to be used for development and/or acquisition of additional dealerships and branch offices, expansion of contract portfolios, and for general corporate purposes. |
©1996 IPO Data Systems, Inc. - All rights reserved.