| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Omega Protein Corporation |
| 1717 St. James Place, Suite 550, Houston, TX 77056 * (713) 940-6100 |
| The company is the largest U.S. producer of protein-rich meal and oil derived from marine sources. The company markets a variety of products derived from menhaden, a fish found in quantities in coastal waters off the U.S. mid-Atlantic and Gulf coasts. |
| Manager | Tier | Phone |
| Prudential Securities Incorporated | Lead Manager | (212) 778-5420 |
| Deutsche Morgan Grenfell | Co-manager | (212) 469-5600 |
| NASNTL: | OME | Agricultural: | SIC 0912 | |
| Type of Shares: | Common Shares | Filing Date: | 1/27/98 | |
| U.S. Shares: | 8,500,000 | Offer Date: | 4/2/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 4,000,000 | Offer Price: | $16.00 | |
| Secondary Shares: | 4,500,000 | Gross Spread: | $1.08 | |
| Offering Amount: | $127,500,000 | Selling: | $0.63 | |
| Expenses: | $800,000 | Reallowance: | $0.10 | |
| Post-IPO Shares: | 23,676,000 | |||
| Spin out parent firm: | Zapata Corporation | |||
| Employees: | 1000 | |||
| Issuer's Law Firm: | Woods, Oviatt, Gilman, Sturman & Clarke LLP |
| Bank's Law Firm: | Fulbright & Jaworski |
| Registrar/Transfer Agent: | American Stock Transfer & Trust Co |
| Auditor: | Coopers & Lybrand |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/97 | 9/30/97 | ||||
| Revenue: | $117.56 | Assets: | $100.44 | ||
| Net Income: | $10.43 | Curr Assets: | $54.63 | ||
| EPS: | $0.52 | Liabilities: | $36.09 | ||
| Prior EPS: | $0.30 | Curr Liab: | $23.24 | ||
| Cash Flow/Oper: | $10.05 | Equity: | $64.35 | ||
| Cash Flow/Fin: | $3.48 | Cash: | $5.50 | ||
| Cash Flow/Inv: | -$10.93 | Working Cap: | $31.40 | ||
| Competition |
| The marine protein and oil business is subject to significant competition from producers of vegetable and other animal protein products and oil products such as Archer-Daniels Midland, Inc. and Cargill, Inc. In addition, but to a lesser extent, the Company competes with international marine protein and oil producers, including Scandinavian herring processors and South American anchovy and sardine processors. Many of these competitors and have greater financial resources and more extensive operations than the Company. |
| Business Plan |
| The Company's strategy is to continue to enhance its position as the leading domestic supplier of value-added marine protein and oil products, to become the leading domestic supplier of omega-3 rich oil for human consumption and to broaden its international presence. The principal elements of this strategy include: (I) Development of Value-Added Products, (ii) Exploit Domestic Market for Omega-3 Fatty Acids, (iii) Maintain Leading Domestic Market Position and (iv) Continue Strategic Acquisitions. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay indebtedness to Zapata and to a bank and for general corporate purposes including working capital and acquisitions. |