| EduTrek International, Inc. | |||
| Ticker: | EDUT | 3340 Peachtree Road | |
| Exchange: | NASDAQ-National Market | Atlanta, GA 30326 | |
| Industry: | Service (SIC Code 8221) | (404) 812-8200 | |
| Type of Shares: | Class A Common Shares | Filing Date: | 6/20/97 | |
| U.S. Shares: | 2,600,000 | Offer Date: | 9/23/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,342,890 | Offer Price: | $14.00 | |
| Secondary Shares: | 257,110 | Gross Spread: | $0.98 | |
| Offering Amount: | $33,800,000 | Selling: | $0.58 | |
| Expenses: | $500,000 | Reallowance: | $0.10 | |
| Shares Out After: | 9,600,000 |
| Manager | Tier | Phone |
| Smith Barney Inc. | Lead Manager | (212) 723-7300 |
| Robinson-Humphrey Company, Inc., The | Co-manager | (404) 266-6450 |
| Issuer's Law Firm: | Smith, Gambrell & Russell |
| Bank's Law Firm: | Alston & Bird |
| Auditor: | Deloitte & Touche |
| Registrar/Transfer Agent: | SunTrust Bank of Atlanta |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 5/31/96 | 2/28/97 | 2/28/97 | |||
| Revenue: | $26.49 | $14.17 | Assets: | $48.02 | |
| Net Income: | $4.63 | $1.21 | Curr Assets: | ||
| EPS: | $0.15 | Liabilities: | $41.64 | ||
| Prior EPS: | -$0.09 | Curr Liabilities: | |||
| Cash Flow/Oper: | $5.81 | Equity: | $6.38 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a leading provider of career-oriented internationally focused higher education designed to prepare students to compete in the global marketplace. The company operates the American Intercontinental University in 4 international locations. The company serves approximately 2,800 students from the U.S. and over 100 other countries. The university's curriculum includes such academic disciplines as international business, multimedia communications and international design. To respond to the increasingly technology-intensive workplace, the University intends to expand its curriculum to include academic programs in the field of information technology management. The University's Fall term enrollment has increased from 2,209 students in 1994 to 2,815 students in 1996, and its net revenues have increased from approximately $20.7 million for the fiscal year ended May 31, 1994 to approximately $26.5 million for the fiscal year ended May 31, 1996. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay outstanding indebtedness, for general corporate purposes including expansion. |
| Officer Name | Title | Age |
| Steve Bostic | Chairman of the Board and Chief Executive Officer | 53 |
| Donald J. Blankers | Chief Financial Officer | 58 |
| Eric R. Fliegel | Chief Information Officer and General Manager, ITI Program | 35 |
| Phillip J. Markert | President, American European Corporation | 48 |
| Stephen G. Franklin, Sr. | President, Chief Academic Officer and Director | 49 |
| Barbara S. Butterfield | Senior Vice President, Human Resources | 56 |
| Douglas C. Chait | Vice President, Corporate Development and Secretary | 33 |