| Ticker: NAP | 1231 Durrett Lane | |
| Exchange: New York Stock Exchange | Louisville, Kentucky 40285 | |
| Industry: High-Tech | (502) 364-2000 |
| Type of Shares: | Common Shares | Filing Date: | 6/7/96 | |
| U.S. Shares: | 6,500,000 | Offer Date: | 8/8/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 6,500,000 | Offer Price: | $16.50 | |
| Secondary Shares: | 0 | Gross Spread: | $1.12 | |
| Offering Amount: | $97,500,000 | Selling: | $0.67 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 49,100,000 | |||
| Spin out parent firm: | National City Corporation | |||
| Manager | Tier | Phone |
| Salomon Brothers Inc. | Lead Manager | (212) 783-2947 |
| Montgomery Securities | Co-manager | 4156272220 |
| NatCity Investments, Inc. | Co-manager | |
| Smith Barney Inc. | Co-manager | (718) 921-8473 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $339.30 | $83.90 | $78.40 | Assets: | $273.00 |
| Net Income: | $25.80 | $5.90 | $5.20 | Liabilities: | $93.20 |
| EPS: | $0.60 | $0.14 | $0.12 | Equity: | $179.80 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a provider of transaction processing services and customized processing solutions. Deploying technology and applications software, the company provides products and value-added services including processing of card and check transactions. In the Merchant Services market, the Company is the second largest processor of merchant credit and debit card transactions in the United States, according to published industry sources. Merchant Services represented approximately 60.8% of the Company's revenues in 1995 and were provided to over 125,000 merchant locations. In the Corporate Services market, the Company believes that it is one of the largest providers of outsourcing services in the United States, processing more than 600 million transactions annually. The Company's corporate Services include accounts payable processing, remittance processing, audit and funds settlement for freight-related charges and electronic imaging solutions. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund future acquisitions and strategic technology investments and for general corporate purposes, including research and product development and expansion of international processing facilities. |
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