| Centennial HealthCare Corporation | |||
| Ticker: | CTEN | 400 Perimeter Center Terrace, Suite 650 | |
| Exchange: | NASDAQ-National Market | Atlanta, GA 30346 | |
| Industry: | Service (SIC Code 8051) | (770) 698-9040 | |
| Type of Shares: | Common Shares | Filing Date: | 3/31/97 | |
| U.S. Shares: | 4,000,000 | Offer Date: | 7/2/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $13.00 - $15.00 | |
| Primary Shares: | 4,000,000 | Offer Price: | $16.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.12 | |
| Offering Amount: | $56,000,000 | Selling: | $0.64 | |
| Expenses: | $1,300,000 | Reallowance: | $0.10 | |
| Shares Out After: | - |
| Manager | Tier | Phone |
| Alex. Brown & Sons Incorporated | Lead Manager | (410) 895-2700 |
| Dean Witter Reynolds | Co-manager | (212) 392-3223 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| Equitable Securities Corporation | Co-manager | (615) 780-9380 |
| Issuer's Law Firm: | Nelson Mullins Riley & Scarbourough |
| Bank's Law Firm: | Waller Lansden Dortch & Davis |
| Auditor: | Coopers & Lybrand |
| Registrar/Transfer Agent: | ChaseMellon Shareholder Services, L.L.C. |
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: | $246.27 | Assets: | $204.27 | ||
| Net Income: | $2.44 | Curr Assets: | |||
| EPS: | $0.05 | Liabilities: | $171.36 | ||
| Prior EPS: | $0.70 | Curr Liabilities: | |||
| Cash Flow/Oper: | $5.39 | Equity: | $32.91 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a leading provider of a broad range of long-term healthcare services to meet the medical needs of elderly and post-acute patients. The company provides these services through geographically concentrated networks located in metropolitan and secondary markets throughout the United States. Centennial currently operates 78 owned, leased and managed skilled nursing facilities in North Carolina, Indiana and Michigan. The company provides basic and specialty healthcare services. Basic services include skilled nursing and support, housekeeping, laundry, dietary, recreational and social services. Specialty services include comprehensive rehabilitation therapy, respiratory therapy, ventilator care, infusion therapy, wound care, home healthcare and other subacute and specialty services. As a component of its specialty services, Centennial currently provides rehabilitation therapy services on a contract basis to third-party and company-operated skilled nursing facilities in 13 states pursuant to 58 contacts. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay the Subordinated Debt; redeem the Company's Series E Redeemable Preferred Stock; repay a portion of the amounts outstanding under its Senior Credit Facility; and repay a portion of the Facility Debt for general corporate purposes. |