| Ticker: PJAM | 9109 PArkway East | |
| Exchange: NASDAQ-National Market | Birmingham, Alabama 35206 | |
| Industry: Retail | (205) 836-1212 |
| Type of Shares: | Common Shares | Filing Date: | 8/30/96 | |
| U.S. Shares: | 1,800,000 | Offer Date: | 10/24/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.50 - $11.50 | |
| Primary Shares: | 1,620,000 | Offer Price: | $12.50 | |
| Secondary Shares: | 180,000 | Gross Spread: | $0.88 | |
| Offering Amount: | $18,900,000 | Selling: | $0.48 | |
| Expenses: | $950,000 | Reallowance: | $0.10 | |
| Shares Out After: | 4,620,000 |
| Manager | Tier | Phone |
| Montgomery Securities | Lead Manager | (415) 627-2220 |
| Alex. Brown & Sons Incorporated | Co-manager | (410) 727-1700 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/25/95 | 6/30/96 | ||
| Revenue: | $23.10 | $14.10 | $10.20 | Assets: | $6.90 |
| Net Income: | $1.15 | $3.14 | $3.15 | Liabilities: | $4.93 |
| EPS: | $0.38 | $0.21 | $0.17 | Equity: | $1.97 |
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 largest franchisee of "Papa John's" pizza delivery and carry-out restaurants based upon the number of restaurants currently in operation. At June 30, 1996, the company owned and operated 42 Papa John's restaurants in Birmingham, Alabama and the surrounding area; in Norfolk, Richmond and Virginia Beach, Virginia and the surrounding area; in Norfolk, Richmond and Virginia Beach, Virginia an the surrounding areas; and in East Texas. In addition to its existing territories, the company has been granted by its franchisor, Papa John's International, Inc., the rights to tenter into development agreements for Papa John's restaurants in Utah from an affiliate of the company. The company also intends to pursue selective strategic acquisitions of existing Papa John's franchisees. At June 30, 1996, the company and its franchisees operated 1,000 Papa John's restaurants in 26 states. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund expansion, repay indebtedness, pay undistributed S Corporation earnings, and for general corporate purposes. |
©1996 IPO Data Systems, Inc. - All rights reserved.