| Ticker: ABND | 301 Congress Avenue | |
| Exchange: NASDAQ-National Market | Austin, Texas 78701 | |
| Industry: Financial | (512) 435-7000 |
| Type of Shares: | Common Shares | Filing Date: | 6/6/96 | |
| U.S. Shares: | 1,000,000 | Offer Date: | 11/8/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 750,000 | Offer Price: | $10.00 | |
| Secondary Shares: | 250,000 | Gross Spread: | $0.70 | |
| Offering Amount: | $12,000,000 | Selling: | $0.40 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 7,456,311 |
| Manager | Tier | Phone |
| Boston Group | Lead Manager | (800) 382-3220 |
| Oppenheimer & Company, Inc. | Co-manager | (212) 667-7402 |
| Rauscher Pierce Refsnes, Inc. | Co-manager | (214) 978-5491 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $5.44 | $3.53 | $0.23 | Assets: | $13.08 |
| Net Income: | $0.87 | $1.07 | -$0.15 | Liabilities: | $9.03 |
| EPS: | $0.17 | $0.19 | -$0.03 | Equity: | $4.05 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company was formed to capitalize on William O. Winsauer's expertise in the securitization of sub-prime finance contracts which he developed as the founder of AutoBond, Inc. From 1989 to 1994, the company structured 20 investment-grade rated securitizations of sub-prime consumer automobile finance contract portfolios, aggregating approximately $190 million in principal amount, originated and underwritten by third party intermediaries. The company acquires finance contracts directly from automobile dealers, makes credit decisions using its own underwriting guidelines and credit personnel and performs the collection function for finance contracts using its own Collections Department. The company developed the necessary expertise and relationships to underwrite, acquire, securitize and service finance contracts by assembling a team of experienced professionals. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to acquire new finance contracts, repay debt, and meet general corporate requirements. |
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