| Proposed Ticker: - | 3369 Progress Drive | |
| Exchange: NASDAQ-National Market | Bensalem, Pennsylvania 19020 | |
| Industry: Manufacturing | (215) 244-1777 |
| All share information is proposed | ||||
| Type of Shares: | Common Shares | Filing Date: | 6/28/96 | |
| U.S. Shares Filed: | 0 | Filing Price: | - | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $172,500,000 | |
| Primary Shares: | 0 | Expenses: | - | |
| Secondary Shares: | 0 | Shs Out After: | ||
| Manager | Tier | Phone |
| Morgan Stanley & Co. Incorporated | Lead Manager | (212) 703-4797 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-2000 |
| BT Securities Corporation | Co-manager | (212) 250-5000 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 504-4525 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $136.30 | $40.10 | $33.61 | Assets: | $80.04 |
| Net Income: | $7.50 | $0.93 | $0.18 | Liabilities: | $181.61 |
| EPS: | Equity: | -$101.57 | |||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The Company is engaged in the direct mail marketing, manufacture and distribution of women's sheer hosiery products in the United States. The Company has recently begun to expand its operations into the United Kingdom and plans to enter certain other international markets. The Company has created a marketing strategy for women's sheer hosiery that combines innovative, highly analytical direct mail marketing techniques with a continuous product shipment or "continuity" program. The Company's direct mail marketing program provides customers with convenient in-home shopping for, and timely delivery of, quality, attractively priced hosiery marketed under the Silkies brand name. The continuity program involves mailing a specially priced introductory hosiery offer to targeted prospective customers, the acceptance of which allows recipients to participate in the program and results in additional shipments of hose on a regular and continuous basis upon payment for each prior shipment. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay indebtedness and to redeem preferred stock. |
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