| Champion Mortgage Holdings Corp. | |||
| Proposed Ticker: | CMPN | 20 Waterview Boulevard | |
| Exchange: | NASDAQ-National Market | Parsippany, NJ 07054 | |
| Industry: | Financial (SIC Code 6162) | (201) 402-7700 | |
| Type of Shares: | Common Shares | Filing Date: | 2/10/97 | |
| U.S. Shares Filed: | 3,500,000 | Filing Range: | $20.00 - $22.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $73,500,000 | |
| Primary Shares: | 3,500,000 | Expenses: | - | |
| Secondary Shares: | 0 | Shares Out After: | 15,000,000 |
| Manager | Tier | Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 526-8100 |
| Issuer's Law Firm: | Stroock & Stroock & Lavan |
| Bank's Law Firm: | Simpson, Thacher & Bartlett |
| Auditor: | Grant Thornton |
| Registrar/Transfer Agent: | ChaseMellon Shareholder Services, L.L.C. |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 9/30/96 | 9/30/96 | ||||
| Revenue: | $67.38 | Assets: | $98.15 | ||
| Net Income: | $10.41 | Curr Assets: | |||
| EPS: | $0.86 | Liabilities: | $70.68 | ||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | $17.31 | Equity: | $27.47 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a licensed retail mortgage banker which originates, sells and services higher-yielding home equity mortgage loans secured by first or second liens primarily on one-to four-family residential properties. The company originates loans to individuals with sufficient income and equity in their home to satisfy the company's underwriting criteria, but who may be unwilling to seek or unable to obtain home equity financing from conventional sources. The company conducts its activities through its growing net of fourteen retail branch offices located in New Jersey, New York, Pennsylvania and Maryland as well as its corporate headquarters in Parsippany, New Jersey. The company has developed widespread name recognition in its target markets with its trademarked and widely recognized slogan, "When your bank says No, Champion says Yes". |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund a distribution to the Existing Stockholders of accumulated corporation earnings and profits of the Champion Companies, to pay notes payable to certain shareholders outstanding under the company's warehouse financing facility, to fund expansion of the company's retail branch network, for future loan originations, to support securitization transactions and for general corporate purposes. |