| Superior Supplements, Inc. | |||
| Ticker: | SPSU | 270 Oser Avenue | |
| Exchange: | NASDAQ-Small Cap Market | Hauppauge, NY 11788 | |
| Industry: | Manufacturing (SIC Code 2833) | (516) 231-0783 | |
| Type of Shares: | Common Shares | Filing Date: | 8/8/96 | |
| U.S. Shares: | 1,000,000 | Offer Date: | 2/26/97 | |
| Non-U.S. Shares: | 0 | Filing Price: | $6.00 | |
| Primary Shares: | 1,000,000 | Offer Price: | $6.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.60 | |
| Offering Amount: | $6,000,000 | Selling: | $0.30 | |
| Expenses: | $588,800 | Reallowance: | $0.10 | |
| Shares Out After: | 4,100,000 |
| Manager | Tier | Phone |
| VTR Capital, Inc. | Lead Manager | (212) 422-6930 |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/96 | 6/30/96 | ||||
| Revenue: | $0.86 | Assets: | $2.57 | ||
| Net Income: | $0.04 | Curr Assets: | |||
| EPS: | $0.01 | Liabilities: | $1.29 | ||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | Equity: | $1.28 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is engaged in the development, manufacture, marketing and sale of dietary supplements including vitamins, minerals, herbs and specialty nutritional supplements, in bulk tablet, capsule and powder form. The company intends to manufacture a wide variety of products for companies which package and sell through many different channels of distribution, including health food, drug, convenience and mass market stores. On May 14, 1996, the company entered into a supply agreement with PDK Labs, pursuant to which the company agreed to supply PDK with vitamins and dietary supplements manufactured to PDK's specifications in bulk tablet form for a three year period, renewable for successive years thereafter. On May 31, 1996, the company entered into an exclusive supply agreement with Compare Generiks, pursuant to which the company agreed to supply CGI with all of CGI's requirements for vitamins on an exclusive basis for a three year period. |
| Competition |
| The market for dietary supplement products is highly competitive in each of the company's existing and anticipated product lines and methods of distribution. Numerous manufacturers and distributors compete with the company for customers throughout the United States and internationally in the bulk packaged dietary supplement industry, selling products to distributors who service health food, drug, convenience and mass market stores, companies that market a branded or generic line of products but do not manufacture these items, and other manufacturers who "outsource" a portion of their needs to supplement their own capacities. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used for the acquisition of machinery and equipment, marketing, repayment of certain indebtedness, and working capital. |
| Additional Underwriter Compensation |
| # of Units: | 500,000 | |||
| Unit Ticker: | SPSUU | Unit Price: | $12.00 | |
| Warrant Ticker: | SPSUW | Warrant Price: | ||
| Warrant Exercise Date: | Warrant Exercise Price: | |||
| Warrant Expiration Date: | ||||
| Warrant Detachable: | Yes | Warrant Detach Date: | ||
| Warrant Callable: | No |
| Unit Composition: 2 Common Shares + 2 Class A Warrants |
| Warrant Entitlement: 1 Common Share |