| Ticker: SMTK | 1640 South Sepulveda Boulevard, Suite 500 | |
| Exchange: NASDAQ-National Market | Los Angeles, California 90025 | |
| Industry: Transportation | (310) 444-8800 |
| Type of Shares: | Common Shares | Filing Date: | 8/19/96 | |
| U.S. Shares: | 4,200,000 | Offer Date: | 10/23/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $13.00 - $15.00 | |
| Primary Shares: | 4,000,000 | Offer Price: | $14.50 | |
| Secondary Shares: | 200,000 | Gross Spread: | $1.01 | |
| Offering Amount: | $58,800,000 | Selling: | $0.61 | |
| Expenses: | $1,225,000 | Reallowance: | $0.10 | |
| Shares Out After: | 12,829,459 |
| Manager | Tier | Phone |
| Salomon Brothers Inc. | Lead Manager | (212) 783-2947 |
| CS First Boston | Co-manager | (212) 909-3312 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 504-4525 |
| Auditor: Price Waterhouse | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $0.45 | $3.68 | $0.04 | Assets: | $4.78 |
| Net Income: | -$1.33 | -$2.27 | -$0.29 | Liabilities: | $10.60 |
| EPS: | -$0.14 | -$0.24 | -$0.03 | Equity: | -$5.82 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company provides convenient, easy to use, cost-effective telecommunications products and services to individuals and businesses primarily through its SmarTalk TeleServices Card. The SmarTalk Card provides customers with a single point of access to prepaid telecommunications services at a fixed rate charge per minute regardless of the time of day or, in the case of domestic calls, the distance of the call. The company's services currently include domestic calling and outbound international long distance calling to more than 150 countries, as well as enhanced features such as sequential calling, speed dial and message deliver. The SmarTalk Card may also be recharged on-line with a major credit card, allowing the user to add minutes as needed. The company expects to offer other enhanced services, including conference calling, voice mail, fax mail, content delivery and selected international calling services. The company's long distance calls are carried primarily through MCI and AT&T.; |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay indebtedness, to fund capital expenditures, marketing, new business development opportunities and the expansion of the company's business internationally, and for additional working capital and general corporate purposes, including possible acquisitions. |
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