| Apple Orthodontix, Inc. | |||
| Ticker: | AOI | One West Loop South, Suite 100 | |
| Exchange: | New York Stock Exchange | Houston, TX 77027 | |
| Industry: | Service (SIC Code 8021) | (713) 964-6882 | |
| Type of Shares: | Class A Common Shares | Filing Date: | 3/5/97 | |
| U.S. Shares: | 2,350,000 | Offer Date: | 5/22/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $7.00 - $8.00 | |
| Primary Shares: | 2,350,000 | Offer Price: | $7.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.49 | |
| Offering Amount: | $17,625,000 | Selling: | $0.29 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 8,333,333 |
| Manager | Tier | Phone |
| Bear, Stearns & Co. Inc. | Lead Manager | (212) 272-4850 |
| Issuer's Law Firm: | Jackson & Walker |
| 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: | $18.14 | Assets: | $16.80 | ||
| Net Income: | $1.02 | Curr Assets: | |||
| EPS: | $0.14 | Liabilities: | $2.91 | ||
| Prior EPS: | -$0.47 | Curr Liabilities: | |||
| Cash Flow/Oper: | Equity: | $13.88 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company was founded in July 1996 to provide practice management services to orthodontic practices in the United States and Canada. The company's objective is to provide a full complement of practice management services designed to drive internal growth by enhancing the ability of Affiliated Practices to: (i) deliver quality, affordable orthodontic treatment primarily on a fee-for-service basis; (ii) stimulate demand in their local markets by increasing consumer awareness of the benefits, availability and affordability of orthodontic treatment; and (iii) improve the productivity and profitability of their practices. The company will also seek to grow through acquisitions. The company will earn revenue by providing management and other services to Affiliated Practices, including staffing, education and training, billing and collections, cash management, purchasing, inventory management, payroll processing, employee benefits administration, advertising production and other marketing support, patient scheduling, financial reporting and analysis, productivity reporting and analysis, recruiting and support for acquisitions, new site development and other capital requirements. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund the cash portion of the purchase price for the assets of the Founding Affiliated Practices, to repay indebtedness and for general corporate purposes which are expected to include future acquisitions, the development of satellite offices and future capital expenditures.. |