| Saxton Incorporated | |||
| Ticker: | SXTN | 5440 West Sahara Avenue, Third Floor | |
| Exchange: | NASDAQ-National Market | Las Vegas, NV 89102 | |
| Industry: | Financial (SIC Code 6552) | (702) 221-1111 | |
| Type of Shares: | Common Shares | Filing Date: | 3/25/97 | |
| U.S. Shares: | 2,275,000 | Offer Date: | 6/25/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.00 - $10.00 | |
| Primary Shares: | 2,275,000 | Offer Price: | $8.25 | |
| Secondary Shares: | 0 | Gross Spread: | $0.58 | |
| Offering Amount: | $21,612,500 | Selling: | $0.35 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 7,619,142 |
| Manager | Tier | Phone |
| Ladenburg, Thalmann & Co. Inc. | Lead Manager | (212) 409-2300 |
| Stifel, Nicolaus & Company, Incorporated | Co-manager | (314) 342-2130 |
| Issuer's Law Firm: | Hughes Hubbard & Reed |
| Bank's Law Firm: | Willkie Farr & Gallagher |
| Auditor: | KPMG Peat Marwick |
| Registrar/Transfer Agent: | U. S. Stock Transfer Corporation |
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: | $63.85 | Assets: | $67.96 | ||
| Net Income: | $5.61 | Curr Assets: | |||
| EPS: | $1.04 | Liabilities: | $61.67 | ||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | -$3.59 | Equity: | $6.29 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is an integrated real estate company engaged in the design, development, construction, operation and sale of residential, commercial and industrial properties in the greater Las Vegas metropolitan area. The company's business is comprised of three components: 1) the design, development, construction and sale of single-family homes and portfolio properties; 2) design-build services for third-party clients and 3) property operations and management. The company's principal focus historically has been the design and development of properties for third-party clients and for its own portfolio. Since its inception in 1986, the company has completed over 125 projects, including professional office buildings, retail and industrial facilities and apartment complexes. The company's development experience and expertise enable it to identify an take advantage of market opportunities and to minimize the risk of real estate cycles. In 1995, management recognized the need for affordable housing in the Las Vegas market and began applying the company's construction expertise to the development of the value-priced single-family detached homes. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay certain indebtedness, including indebtedness to existing stockholders and other related parties, to acquire the interests of various parties in certain properties in connection with the Reorganization, to fund the company's development activities and for general corporate purposes, which may include strategic acquisitions. |