| Proposed Ticker: SLPY | 175 Central Avenue South | |
| Exchange: NASDAQ-National Market | Bethpage, New York 11714 | |
| Industry: Retail | (516) 844-8800 |
| All share information is proposed | ||||
| Type of Shares: | Common Shares | Filing Date: | 6/7/96 | |
| U.S. Shares Filed: | 1,375,000 | Filing Range: | $10.00 - $12.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $15,125,000 | |
| Primary Shares: | 1,375,000 | Expenses: | $525,000 | |
| Secondary Shares: | 0 | Shs Out After: | 4,275,000 | |
| Manager | Tier | Phone |
| Gerard Klauer Mattison & Company, Incorporated | Lead Manager | (212) 481-6030 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/30/95 | 3/30/96 | 4/1/95 | 3/30/96 | ||
| Revenue: | $59.76 | $16.05 | $13.12 | Assets: | $17.28 |
| Net Income: | $1.99 | $0.21 | $0.03 | Liabilities: | $12.79 |
| EPS: | $0.69 | $0.07 | Equity: | $4.49 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is one of the leading specialty retailers of bedding in the New York, New Jersey and Connecticut tri-state metropolitan area, where it currently operates 88 stores. Based on the number of its stores, the company believes that it also is one of the largest specialty retailers of bedding through three formats: (i) 68 Sleepy's stores, which address a broad customer base and offer and extensive selection of bedding merchandise in a wide range of prices; (ii) 20 Kleinsleep stores, which generally are located in more affluent areas and offer a greater mix of higher-priced bedding merchandise, and (iii) the company's 1-800-SLEEPY'S telemarketing operations, which commenced in 1995 and offer only products of the nation's three largest bedding manufacturers to the most convenience-oriented and cost-conscious consumers. The company has experienced significant growth in revenues and earning over the past two years. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to finance the company's planned expansion, through the opening and acquisition of new stores and increased warehouse inventory relating thereto; to make a distribution to current shareholders of the company in connection with the change in the company's tax status; to repay outstanding indebtedness to a corporation controlled by the current shareholder of the company and to a bank, in each incurred in order to provide working capital to the company; and for general corporate purposes. |
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