| Ticker: CIC | 64 Ross Road | |
| Exchange: New York Stock Exchange | Savannah, Georgia 31405 | |
| Industry: Manufacturing | (912) 651-3400 |
| Type of Shares: | Class A Common Shares | Filing Date: | 8/15/96 | |
| U.S. Shares: | 4,190,000 | Offer Date: | 10/14/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $16.00 - $18.00 | |
| Primary Shares: | 2,484,500 | Offer Price: | $14.00 | |
| Secondary Shares: | 1,705,500 | Gross Spread: | $0.98 | |
| Offering Amount: | $71,230,000 | Selling: | $0.55 | |
| Expenses: | $1,500,000 | Reallowance: | $0.10 | |
| Shares Out After: | 14,355,691 |
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 504-4525 |
| Auditor: Deloitte & Touche | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 3/31/96 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $58.13 | $18.80 | $17.27 | Assets: | $92.25 |
| Net Income: | $5.44 | $0.31 | $2.14 | Liabilities: | $82.16 |
| EPS: | $0.03 | Equity: | $10.09 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is the leading manufacturer and marketer in the U.S. retail ethnic hair care market for African-Americans. The company believes that it is one of the leading global manufacturers and marketers of ethnic hair care products for persons of African descent. The company's flagship brand, Dark & Lovely, is the most widely recognized ethnic brand name in the U.S. retail ethnic hair care market. The company currently sells over 60 different products under five principal brand names, including Dark & Lovely, Excelle, Beautiful Beginnings, Dark & Natural and Magic. The majority of the company's sales are derived from four segments of the ethnic health and beauty aids market: hair relaxers and texturizers, which are used to chemically treat and straighten hair, hair color, shaving products and hair care maintenance products. The company's products are specifically formulated to address the unique physiological characteristics of hair of the persons of African descent, which typically include curliness and dryness. The company markets its products in the United States with its own experienced direct sales force. The company also currently markets its products in 60 countries outside of the United States, primarily through local distributors. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay certain outstanding indebtedness. |
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