| Ticker: | ARTT | 500 108th Avenue, N.E., Suite 2600 | |
| Exchange: | NASDAQ-National Market | Bellevue, Washington 98004 | |
| Industry: | Transportation | (206) 688-8700 |
| Type of Shares: | Common Shares | Filing Date: | 5/2/96 | |
| U.S. Shares: | 2,250,000 | Offer Date: | 11/5/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $15.00 - $18.00 | |
| Primary Shares: | 2,250,000 | Offer Price: | $15.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.13 | |
| Offering Amount: | $37,125,000 | Selling: | $0.55 | |
| Expenses: | $2,000,000 | Reallowance: | $0.10 | |
| Shares Out After: | 37,586,498 |
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Deutsche Morgan Grenfell | Co-manager | (212) 468-5000 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/96 | |||
| Revenue: | $0.01 | $0.01 | Assets: | $15.04 | |
| Net Income: | -$3.24 | -$10.70 | Liabilities: | $9.70 | |
| EPS: | Equity: | $5.34 | |||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company provides wireless broadband wireless telecommunications services using point-to-point microwave transmissions. The company is seeking to address the growing demand for high-speed, high capacity digital telecommunications services on the part of business and government end users who require cost effective, high bandwidth local access to voice, video, data and Internet services. Upon completion of its pending acquisition of 129 38 GHz wireless broadband authorizations from CommcoCCC, Inc., the company will own or manage a total of 237 authorizations granted by the Federal Communications Commission covering an aggregate population of approximately 143 million in 169 U.S. markets. ART's footprint will allow it to provide 38 GHz wireless broadband services in 47 of the top 50 markets and 82 of the top 100 markets. Presently, the company owns or manages 108 authorizations that allow it to provide 38 Ghz wireless broadband services in 89 markets. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for capital expenditures, including the purchase of equipment and the acquisition of certain spectrum rights, and for debt repayment and for general corporate purposes including the funding of operating cash flow shortfalls, technology development and the acquisition of additional spectrum rights and, potentially, related businesses. |
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