| Ticker: UAG | 375 Park Avenue | |
| Exchange: New York Stock Exchange | New York, New York 10152 | |
| Industry: Retail | (212) 223-3300 |
| Type of Shares: | Common Shares | Filing Date: | 8/2/96 | |
| U.S. Shares: | 6,250,000 | Offer Date: | 10/23/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $26.00 - $29.00 | |
| Primary Shares: | 6,250,000 | Offer Price: | $30.00 | |
| Secondary Shares: | 0 | Gross Spread: | $2.03 | |
| Offering Amount: | $171,875,000 | Selling: | $1.22 | |
| Expenses: | $2,625,000 | Reallowance: | $0.10 | |
| Shares Out After: | 16,278,684 |
| Manager | Tier | Phone |
| J.P. Morgan Securities Inc. | Lead Manager | (212) 648-9922 |
| Montgomery Securities | Co-manager | (415) 627-2220 |
| Smith Barney Inc. | Co-manager | (718) 921-8473 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $805.62 | $597.94 | $352.74 | Assets: | $311.10 |
| Net Income: | -$3.47 | $3.90 | -$4.90 | Liabilities: | $244.40 |
| EPS: | -$0.63 | $0.46 | -$1.05 | Equity: | $66.71 |
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 leading acquirer, consolidator and operator of franchised automobile and light truck dealerships and related businesses. The company believes that, after giving effect to the Contemporaneous Acquisition, it will be the fourth largest retailer of new motor vehicles in the United States, operating 38 franchises located in Arizona, Arkansas, Connecticut, Georgia, New Jersey and New York and representing 25 American, Asian and European brands. As an integral part of its dealership operations, the company sells used vehicles. In addition, the company has recently established four stand-alone used car retail centers. All of the company's dealerships include integrated service and parts operations, which are an important source of recurring revenues. The company also owns Atlantic Auto Finance Corporation, an automobile finance company engaged in the purchase, sale and servicing of prime credit quality automobile loans originated by both the company and third-party dealerships. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used to pay for the acquisition of Sun Automotive Group; to repay outstanding indebtedness; and to fund the expansion of its automobile finance business. The balance will be used for working capital and other general corporate purposes. |
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