| Ticker: NYBS | 300 I.M.A. Plaza, 250 North Water Street | |
| Exchange: NASDAQ-National Market | Wichita, Kansas 67202 | |
| Industry: Retail | (316) 267-7373 |
| Type of Shares: | Common Shares | Filing Date: | 6/12/96 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 8/27/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $10.00 - $12.00 | |
| Primary Shares: | 1,800,000 | Offer Price: | $9.00 | |
| Secondary Shares: | 200,000 | Gross Spread: | $0.63 | |
| Offering Amount: | $22,000,000 | Selling: | $0.37 | |
| Expenses: | $700,000 | Reallowance: | $0.10 | |
| Shares Out After: | 4,600,000 |
| Manager | Tier | Phone |
| Rauscher Pierce Refsnes, Inc. | Lead Manager | (214) 978-5491 |
| J.C. Bradford & Co. | Co-manager | (615) 271-1334 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $7.36 | $2.39 | $1.71 | Assets: | $3.05 |
| Net Income: | $0.38 | $0.16 | $0.17 | Liabilities: | $4.37 |
| EPS: | $0.13 | $0.05 | Equity: | -$1.32 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company owns and franchises 46 quick-service New York Bagel restaurants in 15 states that serve generous portions of fresh, high quality food with fast, friendly service at an attractive price-value relationship. The company's restaurants provide a selection of up to 20 varieties of bagels that are made from scratch, boiled and baked throughout the day in the traditional "New York style." Breakfast menu items include a variety of bagels and custom-blended cream cheeses, breakfast bagel sandwiches, gourmet coffees, muffins and croissants. Lunch and dinner items include an assortment of bagel delicatessen generally open Monday through Saturday from 6:30 a.m. to 8:00 p.m. and on Sunday from 8:00 a.m. to 5:00 p.m. Management believes that company-owned restaurants typically generate approximately 40% of their sales before 11:00 a.m., with an average ticket of approximately $3.00 during such period and $4.00 thereafter. Time studies performed a periodic basis by the company show that, on average, breakfast customers are served within three minutes of placing their order and lunch and dinner customers are served within five minutes. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay debt and pay current stockholders for tax expenses incurred with bringing the company public; further development of the company's bagel restaurants, future acquisitions and general corporate purposes. |
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