| Proposed Ticker: - | 6550-B Seville Drive | |
| Exchange: NASDAQ-National Market | Cansfield, Ohio 44406 | |
| Industry: Transportation | (330) 565-9500 |
| All share information is proposed | ||||
| Type of Shares: | Class A Common Shares | Filing Date: | 8/14/96 | |
| U.S. Shares Filed: | 3,750,000 | Filing Range: | $10.00 - $12.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $41,250,000 | |
| Primary Shares: | 3,750,000 | Expenses: | - | |
| Secondary Shares: | 0 | Shs Out After: | ||
| Manager | Tier | Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 504-4525 |
| Lehman Brothers Incorporated | Co-manager | (212) 640-6129 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/96 | |||
| Revenue: | $24.82 | $17.31 | Assets: | $22.43 | |
| Net Income: | $1.95 | $1.46 | Liabilities: | $16.95 | |
| EPS: | $1.67 | $0.16 | Equity: | $5.49 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Upon consummation of the Horizon Acquisition, the company will own and operate cellular telephone systems serving one large cluster with approximately 2.4 million Pops in northeastern Ohio, western Pennsylvania and western New York. The Horizon Acquisition will add five RSAa to the three MSAs and one RSA currently operated by the company, providing the company with approximately 78,000 subscribers. The company's cellular systems are located in Youngstown, Ohio and Erie, Pennsylvania and in primarily suburban and rural areas between the Cleveland, Akron-Canton, Pittsburgh, Buffalo and Rochester metropolitan areas. The company believes that its mix of suburban and rural locations provides it with advantages over cellular operators in predominately urban areas, including greater roaming revenue opportunities, lower distribution costs and higher costs of entry for new competitors. The company has converted all of its Existing Systems to time division multiple access digital technology and will selectively convert the more densely populated portions of the Horizon Systems to digital technology in early 1997. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to finance acquisitions and reduce indebtedness. |
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