| Ticker: GKNS | 61 Broadway | |
| Exchange: NASDAQ-National Market | New York, New York 10006 | |
| Industry: Financial | (212) 509-3800 |
| Type of Shares: | Common Shares | Filing Date: | 6/5/96 | |
| U.S. Shares: | 2,500,000 | Offer Date: | 7/30/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $6.00 - $8.00 | |
| Primary Shares: | 2,500,000 | Offer Price: | $6.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.48 | |
| Offering Amount: | $17,500,000 | Selling: | $0.29 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 8,059,125 |
| Manager | Tier | Phone |
| Pennsylvania Merchant Group Ltd | Lead Manager | (215) 975-8120 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 1/31/96 | 4/30/96 | 4/30/95 | 4/30/96 | ||
| Revenue: | $43.02 | $18.44 | $7.16 | Assets: | $33.12 |
| Net Income: | $3.47 | $2.25 | -$0.26 | Liabilities: | $16.22 |
| EPS: | $0.61 | $0.40 | Equity: | $16.90 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is primarily engaged in securities brokerage, securities trading and investment banking through GKN Securities Corporation, its principal operating subsidiary. GKN is a full service securities brokerage and investment banking firm which is a registered broker-dealer with the Securities and Exchange Commission, in 50 states, the District of Columbia and Puerto Rico and a member firm of the National Association of Securities Dealers, Inc. GKN's principal office is located in New York City, New York and its branch offices are located in Great Neck, New York, Boca Raton, Florida, Miami, Florida, and Stamford, Connecticut. The company began operations in 1987 following the October market decline, at which time the founders preceived an opportunity for the creation of a high quality investment bank serving emerging growth and small and micro capitalization corporate clients and investors. From its inception, the company's plan has been to develop a quality firm serving this market niche. Since October 1990, when GKN managed its first underwriting, GKN has acted as managing or co-managing underwriter in a total of 40 public offerings, rasing approximately $395 million. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used to expand its exinsting businesses by 1) increasing GKN's equity capital to permit it to underwrite larger offerings and increase its principal trading and market making activities 2) expanding GKN's and Shochet's retail and institutional sales forces 3) enhancing GKN's investment banking and research capabilities 4) expanding the company's money management operations and commencing merchant banking activities 5) expanding the company's international operations. |
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