| Ticker: ABREF | 1633 Broadway | |
| Exchange: NASDAQ-Small Cap Market | New York, New York 10019 | |
| Industry: Manufacturing | (212) 664-1666 |
| Type of Shares: | Common Shares | Filing Date: | 6/14/96 | |
| U.S. Shares: | 1,580,000 | Offer Date: | 9/11/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $5.00 - $6.00 | |
| Primary Shares: | 1,580,000 | Offer Price: | $5.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.55 | |
| Offering Amount: | $8,690,000 | Selling: | $0.28 | |
| Expenses: | $625,000 | Reallowance: | $0.10 | |
| Shares Out After: | 3,355,151 |
| Manager | Tier | Phone |
| National Securities Corp. | Lead Manager | (206) 622-7200 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 10/31/95 | 1/31/96 | 1/31/96 | |||
| Revenue: | $0.06 | $0.13 | Assets: | $0.89 | |
| Net Income: | -$0.24 | $0.00 | Liabilities: | $0.67 | |
| EPS: | -$0.12 | Equity: | $0.21 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| AmBrew International owns and operates the South China Brewery, the first in a series of international breweries based on the concept of American-style micro-breweries. The South China Brewery, the first American style micro-brewery in Hong Kong, produces fresh, high quality, preservative-free, hand-crafted beers using state-of-the-art American-manufactured brewing equipment. Hand-crafted beers are distinguishable by their full flavor which results from traditional brewing styles. The Company believes that American style micro-brewing has growth potential in other key world markets and that the South China Brewery is a model that can be adapted to other markets. The American-style micro-brewery concept has developed over the past ten years into the fastest growing segment of the American beer industry. American style micro-breweries produce less than 15,000 barrels per year of hand-crafted beers in a variety of styles. The Company believes that the growing demand for micro-brewed beers in the United States is a part of a broader shift in preferences on the part of a certain segment of consumers away from mass-produced products. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used to repay indebtedness, for capital expenditures related to the establishment of proposed expansion breweries including $2.8 million for the purchase of micro-brewing equipment; and for working capital and general corporate purposes. |
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