| CCA Prison Realty Trust, Inc. | |||
| Ticker: | PZN | 2200 Abbott Martin Road, Suite 201 | |
| Exchange: | New York Stock Exchange | Nashville, TN 37215 | |
| Industry: | Financial (SIC Code 6798) | (615) 460-7452 | |
| Type of Shares: | Common Shares | Filing Date: | 4/24/97 | |
| U.S. Shares: | 18,500,000 | Offer Date: | 7/15/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $19.00 - $21.00 | |
| Primary Shares: | 18,500,000 | Offer Price: | $21.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.37 | |
| Offering Amount: | $370,000,000 | Selling: | $0.82 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 17,301,000 | |||
| Spin out parent firm: | Corrections Corp. of America | |||
| Manager | Tier | Phone |
| J.C. Bradford & Co. | Lead Manager | (615) 748-9347 |
| Legg Mason Wood Walker, Inc. | Co-manager | (410) 539-4038 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| Issuer's Law Firm: | Stokes & Bartholomew, P.A. |
| Bank's Law Firm: | Bass, Berry, & Sims |
| 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: | $292.51 | Assets: | $468.89 | ||
| Net Income: | $30.88 | Curr Assets: | |||
| EPS: | $0.36 | Liabilities: | $187.14 | ||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | $24.39 | Equity: | $281.75 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a real estate investment trust (REIT). The company buys correctional and detention facilities from private prison managers and government entities. The principal business strategy of the company will be to acquire correctional and detention facilitates that meet the company's investment criteria, from both private prison managers and government entities, to expand its existing facilities, and to lease all such facilities under long-term leases. The company initially will acquire the nine Initial Facilities currently owned and operated by CCA. CCA is the largest developer and manager of privatized correctional and detention facilities worldwide. The company will also have an option to acquire any or all of the five Option Facilities currently owned and operated or under construction or development by CCA for a period of three years following the closing of the purchase of the Initial Facilities. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the purchase of nine correctional and detention facilities from Corrections Corp. of America and for working capital and general corporate purposes. |