| American Aircarriers Support, Incorporated | |||
| Ticker: | AIRS | 3516 Centre Circle Drive | |
| Exchange: | NASDAQ-National Market | Fort Mill, SC 29715 | |
| Industry: | Wholesale (SIC Code 5088) | (803) 548-2160 | |
| # of Employees: | 18 | ||
| Type of Shares: | Common Shares | Filing Date: | 3/24/98 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 5/28/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $7.50 - $8.50 | |
| Primary Shares: | 2,000,000 | Offer Price: | $6.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.42 | |
| Offering Amount: | $16,000,000 | Selling: | $0.25 | |
| Expenses: | $980,000 | Reallowance: | $0.10 | |
| Shares Out After: | 6,100,000 |
| Manager | Tier | Phone |
| Cruttenden Roth Incorporated | Lead Manager | (800) 678-9147 |
| Issuer's Law Firm: | Berliner Zisser Walter & Gallegos |
| Bank's Law Firm: | Lebdeuf, Lamb, Greene & Macrae |
| Auditor: | Cherry, Bekaert & Holland |
| Registrar/Transfer Agent: | American Securities Transfer, Inc |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/97 | 12/31/97 | ||||
| Revenue: | $13.25 | Assets: | $9.05 | ||
| Net Income: | $2.44 | Curr Assets: | $8.38 | ||
| EPS: | $0.60 | Liabilities: | $4.18 | ||
| Prior EPS: | $0.28 | Curr Liabilities: | $4.18 | ||
| Cash Flow/Oper: | -$0.63 | Equity: | $4.87 | ||
| Cash Flow/Fin: | $0.16 | Cash: | $0.75 | ||
| Cash Flow/Inv: | -$0.55 | Working Cap: | $4.20 | ||
| Business Description |
| The company is a leading international supplier of primarily high-margin aircraft components and spare parts to major commercial passenger and cargo airlines, maintenance and repair facilities and other redistributors located throughout the world. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to purchase engines, extinguish related party indebtedness and fund S Corporation distributions, to reduce bank indebtedness, to purchase aircraft and engines for disassembly, sale or lease, to increase inventory of aircraft and engine components and spare parts, to acquire complementary businesses in the aircraft components and spare parts industry and for general corporate purposes. |
| Additional Underwriter Compensation |
| Warrant to purchase 200,000 shares/units at a nominal price. |