| Waste Industries, Inc. | |||
| Ticker: | WWIN | 3949 Browning Place | |
| Exchange: | NASDAQ-National Market | Raleigh, NC 27609 | |
| Industry: | Utilities (SIC Code 4953) | (919) 782-0095 | |
| Type of Shares: | Common Shares | Filing Date: | 4/22/97 | |
| U.S. Shares: | 2,150,000 | Offer Date: | 6/13/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $10.50 - $12.50 | |
| Primary Shares: | 1,605,200 | Offer Price: | $13.50 | |
| Secondary Shares: | 544,800 | Gross Spread: | $0.94 | |
| Offering Amount: | $24,725,000 | Selling: | $0.54 | |
| Expenses: | $450,000 | Reallowance: | $0.10 | |
| Shares Out After: | 11,205,357 |
| Manager | Tier | Phone |
| Alex. Brown & Sons Incorporated | Lead Manager | (410) 895-2700 |
| Deutsche Morgan Grenfell | Co-manager | (212) 469-5600 |
| Issuer's Law Firm: | Wyrick, Robbins, Yates & Ponton |
| Bank's Law Firm: | Piper & Marbury |
| Auditor: | Deloitte & Touche |
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: | $92.38 | Assets: | $59.07 | ||
| Net Income: | $4.20 | Curr Assets: | |||
| EPS: | $0.43 | Liabilities: | $44.90 | ||
| Prior EPS: | $0.43 | Curr Liabilities: | |||
| Cash Flow/Oper: | $14.95 | Equity: | $14.17 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a regional solid waste services company providing solid waste collection, transfer, recycling, processing and disposal services to customers in North Carolina and South Carolina and, to a limited extent, in Virginia. The company controls an average of approximately 13% of the total waste stream in North Carolina and South Carolina, based on its estimates of landfill disposal tonnage. The company's principal operations consist of 18 branch collection operations, 11 transfer stations and four recycling processing facilities that serve over 144,000 municipal, residential, commercial and industrial locations. Collection operations include front-end and roll-off collection for commercial and industrial accounts and curbside collection for residential customers. Transfer stations are located strategically throughout the served market area to allow the company to consolidate its waste stream to gain more favorable disposal rates. The company operates on a decentralized management basis, with each branch office having service and decision-making authority. This allows the company the flexibility and speed to respond to customer needs, to capitalize on market opportunities and to identify potential acquisition targets. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay revolving bank debt and for general corporate purposes including possible acquisitions. |