| Advantage Learning Systems, Inc. | |||
| (www.advlearn.com) | |||
| Ticker: | ALSI | 2911 Peach Street | |
| Exchange: | NASDAQ-National Market | Wisconsin Rapids, WI 54495 | |
| Industry: | High-Tech (SIC Code 7372) | (715) 424-3636 | |
| Type of Shares: | Common Shares | Filing Date: | 2/28/97 | |
| U.S. Shares: | 2,800,000 | Offer Date: | 9/24/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,800,000 | Offer Price: | $16.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.12 | |
| Offering Amount: | $36,400,000 | Selling: | $0.60 | |
| Expenses: | $750,000 | Reallowance: | $0.10 | |
| Shares Out After: | 13,896,066 |
| Manager | Tier | Phone |
| Piper Jaffray Incorporated | Lead Manager | (612) 342-6220 |
| Montgomery Securities | Co-manager | (415) 627-2100 |
| Issuer's Law Firm: | Godfrey & Kahn |
| Bank's Law Firm: | Sachnoff & Weaver |
| Auditor: | Arthur Andersen |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $22.38 | Assets: | $19.86 | ||
| Net Income: | $4.46 | Curr Assets: | |||
| EPS: | Liabilities: | $16.08 | |||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | $9.20 | Equity: | $3.77 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a leading provider of learning information systems to kindergarten through senior high schools in the United States and Canada. The company's learning information systems consist of computer software and related training designed to improve student academic performance by increasing the quality, quantity and timeliness of performance data available to educators and by facilitating increased student practice of essential skills. The company's flagship product, the Accelerated Reader, is software for motivating and monitoring increased literature based reading practice. As of December 31, 1996, the Accelerated Reader had been sold to approximately 26,000, or 21%, of the K-12 schools in the United States and Canada. In a survey by Quality Education Data, Inc., the Accelerated Reader was the software product that educators most frequently cited as being used to improved the quality of education in K-12 schools. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for payment of undistributed S Corporation earnings, repayment of construction related indebtedness, repayment of acquisition related indebtedness to principal stockholders, payment to certain employee benefit plans and general corporate purposes including working capital and new product development. |