| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Caliber Learning Network, Inc. |
| 1000 Lancaster Street, Baltimore, MD 21202 * (410) 843-8000 |
| The company is establishing a state-of-the-art, graduate level learning and professional training distribution network throughout the U.S. designed to meet the needs of prominent universities, major corporations and working adults. |
| Manager | Tier | Phone |
| BT Alex Brown | Lead Manager | (410) 727-1700 |
| Nationsbanc Montgomery Securities, Inc. | Co-manager | (415) 627-2100 |
| NASNTL: | CLBR | Service: | SIC 8299 | |
| Type of Shares: | Common Shares | Filing Date: | 3/9/98 | |
| U.S. Shares: | 5,700,000 | Offer Date: | 5/4/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 4,500,000 | Offer Price: | $14.00 | |
| Secondary Shares: | 1,200,000 | Gross Spread: | $0.98 | |
| Offering Amount: | $74,100,000 | Selling: | $0.55 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Post-IPO Shares: | 11,700,000 | |||
| Employees: | 133 |
| Issuer's Law Firm: | Piper & Marbury |
| Bank's Law Firm: | Hogan & Hartson |
| Registrar/Transfer Agent: | State Street Bank and Trust Company |
| Auditor: | Ernst & Young |
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 | 12/31/97 | ||||
| Revenue: | $1.20 | Assets: | $14.51 | ||
| Net Income: | -$13.57 | Curr Assets: | $5.90 | ||
| EPS: | -$1.98 | Liabilities: | $14.71 | ||
| Prior EPS: | -$0.26 | Curr Liab: | $7.19 | ||
| Cash Flow/Oper: | Equity: | -$0.20 | |||
| Cash Flow/Fin: | Cash: | $3.85 | |||
| Cash Flow/Inv: | Working Cap: | -$1.29 | |||
| Competition |
| Management believes that its principal potential competitors will be prominent universities located in the markets served by Caliber Campuses. In each of Caliber's markets, there are also other two-year and four-year colleges which have their own continuing education and graduate level programs. Each of these competitors offers live classroom instruction and, therefore, may enjoy a competitive advantage. Other competitors include for-profit educational organizations, such as the Apollo Group's University of Phoenix, Strayer University and DeVry's Keller School of Management, that provide lifelong learning programs targeted to working adults and feature live classroom instruction. Caliber may also compete with distance learning companies that offer self-paced correspondence courses, videos, audiocassettes and other distance learning products. More recent distance learning products include CD-rom and Internet-based instruction. If the Caliber distance learning concept proves successful, Caliber expects competitors to enter the market. For example, businesses that have facilities in multiple markets that could be linked by satellite, such as major hotel and movie theater chains, could decide to establish networks of distance learning facilities to compete with Caliber. Westcott Communications, Inc., which has established a one-way satellite-based network currently used by a number of larger corporations to distribute their training programs, could decide to make its network interactive. The Company also competes against a significant number of third party training companies that provide various training programs to corporations. In addition, corporations may continue to use internal resources to satisfy their training needs. |
| Business Plan |
| To achieve its goal of becoming the leading provider of distance learning to working adults, Caliber has developed the following six-part strategy: (I) Rapidly create the foremost distributed learning network, (ii) Establish long-term strategic alliances with prominent universities, (iii) Form consultative relationships with major corporations, (iv) Target professional development and training programs to specific industries, (v) Manage collaboration among prominent universities and corporations and (vi) Optimize utilization of the Caliber network. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to finance leasehold improvements and equip Caliber Campuses, to repay outstanding indebtedness and management fees, to pay accrued Preferred Stock dividends and to provide working capital to support the company's planned growth. |