| Pivot Rules, Inc. | |||
| Ticker: | PVTR | 80 West 40th Street | |
| Exchange: | NASDAQ-Small Cap Market | New York, NY 10018 | |
| Industry: | Wholesale (SIC Code 5136) | (212) 944-8000 | |
| Type of Shares: | Common Shares | Filing Date: | 3/6/97 | |
| U.S. Shares: | 1,500,000 | Offer Date: | 5/16/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $5.00 - $6.00 | |
| Primary Shares: | 1,500,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.50 | |
| Offering Amount: | $8,250,000 | Selling: | $0.25 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 2,700,000 |
| Manager | Tier | Phone |
| GKN Securities | Lead Manager | (212) 208-6660 |
| Issuer's Law Firm: | Shereff, Friedman, Hoffman and Goodman |
| Bank's Law Firm: | Graubard Mollen Horowitz Pomeranz & Shapiro |
| Auditor: | Grant Thornton |
| Registrar/Transfer Agent: | American Stock Transfer & Trust Co |
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: | $8.60 | Assets: | $1.64 | ||
| Net Income: | $0.14 | Curr Assets: | |||
| EPS: | $0.11 | Liabilities: | $1.23 | ||
| Prior EPS: | -$0.17 | Curr Liabilities: | |||
| Cash Flow/Oper: | $1.41 | Equity: | $0.41 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company designs, sources and markets a full collection of golf lifestyle sportswear for men under the Pivot Rules brand name and registered trademark. Its current products include knit and woven shirts, sweaters, sweatshirts, pants, shorts, outerwear, hats and socks, many of which carry the company's distinctive "Three golfer" logo. The company focuses its design efforts on creating products with updated styling, innovating design and superior comfort and fit, utilizing natural fibers and bright colors. The company seeks to distinguish its products from its competitors' products by incorporating many unique details into its garments, thereby creating a "branded" look. The company believes that by integrating its marketing, packaging and in-store fixturing programs, it will be able to build a lifestyle image that customers will link with the Pivot Rules brand name. Historically, golf apparel has been marketed largely to avid golfers and has been sold primarily at country clubs and pro shops. In recent years, however, these products increasingly have appealed to a broader group of consumers. As golf apparel has become more fashionable, a new market segment has developed--golf lifestyle sportswear. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for marketing and advertising activities, to repay indebtedness and obligations of the company, installation of concept shops and/or concept areas within targeted retailers' stores, for working capital and general corporate purposes. |
| # of Units: | 1,500,000 | |||
| Unit Ticker: | - | Unit Price: | ||
| Warrant Ticker: | PVTRW | Warrant Price: | ||
| Warrant Exercise Date: | Warrant Exercise Price: | |||
| Warrant Expiration Date: | ||||
| Warrant Detachable: | Yes | Warrant Detach Date: | ||
| Warrant Callable: | No |
| Unit Composition: 1 Common Share + 1 Warrant |
| Warrant Entitlement: 1 Common Share |