| Ticker: GAC | P.O. Box 2206, 500 Gulfstream Road | |
| Exchange: New York Stock Exchange | Savannah, Georgia 31402 | |
| Industry: Manufacturing | (912) 965-3000 |
| Type of Shares: | Common Shares | Filing Date: | 8/9/96 | |
| U.S. Shares: | 29,600,000 | Offer Date: | 10/9/96 | |
| Non-U.S. Shares: | 7,400,000 | Filing Range: | $22.00 - $24.00 | |
| Primary Shares: | 4,559,100 | Offer Price: | $24.00 | |
| Secondary Shares: | 32,440,900 | Gross Spread: | $1.32 | |
| Offering Amount: | $851,000,000 | Selling: | $0.78 | |
| Expenses: | $2,500,000 | Reallowance: | $0.10 | |
| Shares Out After: | 73,181,016 |
| Manager | Tier | Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-1172 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Morgan Stanley & Co. Incorporated | Co-manager | (212) 703-4797 |
| Auditor: Deloitte & Touche | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $1,041.51 | $458.67 | $474.88 | Assets: | $1,159.37 |
| Net Income: | $28.89 | $15.36 | $7.83 | Liabilities: | $1,036.27 |
| EPS: | $0.18 | $0.08 | -$0.02 | Equity: | $123.10 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is recognized worldwide as a leading designer, developer, manufacturer and marketer of the most technologically advanced intercontinental business jet aircraft. Since 1966, when the company created the large cabin business jet category with the introduction of the Gulfstream II, the company has dominated this market segment, capturing a cumulative market share of 60%. The company has manufactured and sold over 950 large business aircraft since the introduction of the Gulfstream product line in 1958. Since 1990, the company has been owned by certain partnerships formed by Forstmann Little & Co., a private investment firm. The company has developed a broad range of aircraft products to meet the aviation needs of its targeted customers. The company's current principal aircraft products are the Gulfstream IV-SP, the Gulfstream V, Gulfstream Shares-TM and pre-owned Gulfstream aircraft. As an integral part of its aircraft product offerings, the company offers aircraft completion and worldwide aircraft maintenance services and technical support for all Gulfstream aircraft. |
| Use of Proceeds |
| The proceeds from the offering will be used to repurchase the outstanding Series A 7% cumulative preferred stock of the company at its stated value; pay unpaid dividends; to repay outstanding indebtedness under existing credit facilities and to pay the fees and expenses incurred in connection with the offerings and the refinancing of the company's indebtedness. |
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