| Ticker: GNWR | 71 Lewis Street | |
| Exchange: NASDAQ-National Market | Greenwich, Connecticut 06830 | |
| Industry: Transportation | (203) 629-3722 |
| Type of Shares: | Class A Common Shares | Filing Date: | 4/24/96 | |
| U.S. Shares: | 2,648,000 | Offer Date: | 6/24/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 2,500,000 | Offer Price: | $17.00 | |
| Secondary Shares: | 148,000 | Gross Spread: | $1.19 | |
| Offering Amount: | $39,720,000 | Selling: | $0.71 | |
| Expenses: | $1,025,000 | Reallowance: | $0.10 | |
| Shares Out After: | 4,848,493 |
| Manager | Tier | Phone |
| Schroder Wertheim & Company, Incorporated | Lead Manager | (212) 492-6900 |
| Furman Selz Incorporated | Co-manager | (212) 309-8200 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $53.39 | $16.61 | $13.39 | Assets: | $115.86 |
| Net Income: | $1.66 | $0.97 | $0.50 | Liabilities: | $103.91 |
| EPS: | $0.92 | $0.41 | $0.21 | Equity: | $11.95 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| GWI is a leading operator of short line and regional freight railroads, based on revenues and total track miles. In 1977, when Mortimer B. Fuller, III purchased a controlling interest in the Company and became its Chief Executive Officer, the Company operated a single 14-mile railroad that generated $3.9 million in operating revenues, substantially all of which were attributable to shipments of salt by Akzo Nobel Salt, Inc. As a result of the Company's acquisition and marketing strategies, the Company has grown to operate over approximately 1,500 miles of track and, in 1995, the Company generated $53.4 million in operating revenues. The Company now operates in four regions of the United States: Western new York and Pennsylvania; Illinois; Louisiana and Texas; and Oregon. The Company's growth to date has been the result of its acquisition of rail properties and its marketing efforts. |
| Use of Proceeds |
| The proceeds from the offering will be used to repay indebtedness. |
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