| CTB International Corp. | |||
| Ticker: | CTBC | State Road 15 North, P.O. Box 2000 | |
| Exchange: | NASDAQ-National Market | Milford, IN 46542 | |
| Industry: | Manufacturing (SIC Code 3523) | (219) 658-4191 | |
| Type of Shares: | Common Shares | Filing Date: | 6/24/97 | |
| U.S. Shares: | 5,000,000 | Offer Date: | 8/20/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 5,000,000 | Offer Price: | $14.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.98 | |
| Offering Amount: | $75,000,000 | Selling: | $0.58 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 12,881,804 |
| Manager | Tier | Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 371-0641 |
| Chase Securities, Inc. | Co-manager | (212) 834-4533 |
| George K. Baum & Company | Co-manager | (816) 283-5332 |
| Issuer's Law Firm: | Simpson, Thacher & Bartlett |
| Bank's Law Firm: | Kaye, Scholer, Fierman, Hays & Handler |
| Auditor: | Deloitte & Touche |
| Registrar/Transfer Agent: | First Chicago Trust Company of NY |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 3/31/97 | 3/31/96 | 3/31/97 | ||
| Revenue: | $148.85 | $31.52 | $31.55 | Assets: | $105.85 |
| Net Income: | $8.50 | $0.92 | $0.36 | Curr Assets: | |
| EPS: | $0.90 | $0.10 | $0.04 | Liabilities: | $91.21 |
| Prior EPS: | $1.57 | $0.45 | Curr Liabilities: | ||
| Cash Flow/Oper: | $11.71 | Equity: | $14.64 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a leading manufacturer and marketer of automated feeding, watering and ventilation systems, feed bins, grain storage bins and integrated commercial egg laying and handling systems for the poultry, swine, grain and egg production industries. The company believes that it has more than 50% of the domestic market for (I) broiler chicken, swine and turkey feeding systems, (ii) integrated commercial egg laying and handling systems and (iii) poultry and swine feed storage and delivery systems. With the Butler Acquisition, the company is the leading domestic producer of grain storage bins. The company markets its agricultural products on a worldwide basis primarily under the CHORE-TIME (R) and BROCK (R) brand names through a network of over 500 U.S. and international independent distributors and dealers, which network the company believes is one of the strongest in the industry. The company believes that its strong brand names and market positions reflect its 45-year history as the leading innovator in its core markets. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay indebtedness incurred in connection with the purchase price and the related fees and expenses of the Butler Acquisition; to repay a portion of the indebtedness incurred in connection with the purchase price and related fees and expenses of the Fancom Acquisition; to redeem shares of outstanding existing Preferred Stock; to repay outstanding revolving credit loans under the existing credit agreement; and to finance general working capital needs. |