| Ticker: EDMC | 300 Sixth Avenue | |
| Exchange: NASDAQ-National Market | Pittsburgh, Pennsylvania 15222 | |
| Industry: Service | (412) 562-0900 |
| Type of Shares: | Common Shares | Filing Date: | 8/19/96 | |
| U.S. Shares: | 4,530,000 | Offer Date: | 10/30/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $17.00 | |
| Primary Shares: | 3,230,000 | Offer Price: | $15.00 | |
| Secondary Shares: | 1,300,000 | Gross Spread: | $1.05 | |
| Offering Amount: | $70,215,000 | Selling: | $0.60 | |
| Expenses: | $1,550,000 | Reallowance: | $0.10 | |
| Shares Out After: | 14,240,134 |
| Manager | Tier | Phone |
| CS First Boston | Lead Manager | (212) 909-3312 |
| Chicago Corporation, The | Co-manager | (312) 855-7600 |
| Smith Barney Inc. | Co-manager | (718) 921-8473 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/96 | 6/30/96 | ||||
| Revenue: | $147.86 | Assets: | $101.41 | ||
| Net Income: | $5.92 | Liabilities: | $91.76 | ||
| EPS: | $0.39 | Equity: | $9.66 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is one of the largest providers of proprietary postsecondary education in the United States based on student enrollments and revenues. Through its operating units, the Art Institutes, the New York Restaurant School (NYRS), the National Center for Paralegal Training (NCPT), and the National Center for Professional Development (NCPD), the company offers associate's and bachelor's degree programs and non-degree programs in the areas of design, media arts, culinary and hospitality arts, fashion, and paralegal studies. The company has provided career-oriented education programs for nearly 35 years, and its schools have graduated over 100,000 students. In the fall quarter of fiscal 1996, the company's schools had approximately 14,000 students enrolled, representing all 50 states and 65 countries. The company's main operating unit, the Art Institutes, consists of 11 schools in 10 cities throughout the United States and accounted for approximately 92% of the company's proforma net revenues in fiscal 1996. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of certain indebtedness and for general corporate purposes. |
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