| Carey International, Inc. | |||
| Ticker: | CARY | 4530 Wisconsin Avenue, N.W. | |
| Exchange: | NASDAQ-National Market | Washington, DC 20016 | |
| Industry: | Transportation (SIC Code 4119) | (202) 895-1200 | |
| Type of Shares: | Common Shares | Filing Date: | 3/3/97 | |
| U.S. Shares: | 2,900,000 | Offer Date: | 5/27/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 2,900,000 | Offer Price: | $10.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.74 | |
| Offering Amount: | $34,800,000 | Selling: | $0.42 | |
| Expenses: | $1,200,000 | Reallowance: | $0.10 | |
| Shares Out After: | 6,315,844 |
| Manager | Tier | Phone |
| Montgomery Securities | Lead Manager | (415) 627-2100 |
| Ladenburg, Thalmann & Co. Inc. | Co-manager | (212) 409-2300 |
| Issuer's Law Firm: | Nutter, McClennen & Fish |
| Bank's Law Firm: | Fulbright & Jaworski |
| Auditor: | Coopers & Lybrand |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 11/30/96 | 11/30/96 | ||||
| Revenue: | $59.51 | Assets: | $42.53 | ||
| Net Income: | $2.82 | Curr Assets: | |||
| EPS: | Liabilities: | $35.85 | |||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | $4.56 | Equity: | $6.67 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is one of the world's largest chauffeured vehicle service companies, providing services through a worldwide network of owned and operated companies, licensees and affiliates servings 420 cities in 65 countries. The "Carey" brand name has represented quality chauffeured vehicle service since the 1920s. The company owns and operates its service providers in New York, San Francisco, Los Angeles, London, Washington D.C., South Florida and Philadelphia. In addition, the company generates revenues from licensing the "Carey" name and providing central reservation, billing and sales and marketing services to its licensees. The company's worldwide network also includes affiliates in locations in which the company has neither owned and operated companies nor licensees. Over the past five years, the company has invested significant capital in developing its reservation, central billing and worldwide service infrastructure. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay certain indebtedness, redeem certain shares of Preferred stock, pay the cash portions of the purchase price for Manhattan Limousine, fund other acquisitions and for general corporate purposes including working capital. |