| IPO Company Profile |
| SEC Filings | Peer IPO Companies |
| American Finance Group, Inc. |
| 24 School Street, Boston, MA 02108 * (617) 557-9300 |
| The company is a commercial finance company engaged in the leasing and secured financing of a variety of equipment for investment-grade "Fortune 1000" companies and creditworthy middle-market companies. |
| Manager | Tier | Phone |
| Legg Mason Wood Walker, Inc. | Lead Manager | (410) 539-4038 |
| Furman Selz Incorporated | Co-manager | (212) 309-8285 |
| NASNTL: | AFGC | Financial: | SIC 6159 | |
| Type of Shares: | Common Shares | Filing Date: | 5/7/98 | |
| U.S. Shares Filed: | 2,150,000 | Filing Range: | $13.00 - $15.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $30,100,000 | |
| Primary Shares: | 1,570,000 | Expenses: | $725,000 | |
| Secondary Shares: | 580,000 | Post-IPO Shares: | 5,770,000 | |
| Spin out parent firm: | PLM International, Inc. | |||
| Employees: | 26 | |||
| Issuer's Law Firm: | Skadden, Arps, Slate, Meagher & Flom |
| Bank's Law Firm: | Mintz, Levin, Cohn, Ferris, Glovsky And Popeo |
| Registrar/Transfer Agent: | ChaseMellon Shareholder Services, L.L.C. |
| Auditor: | KPMG Peat Marwick |
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: | $20.67 | Assets: | $151.47 | ||
| Net Income: | $2.11 | Curr Assets: | |||
| EPS: | Liabilities: | $131.49 | |||
| Prior EPS: | Curr Liab: | ||||
| Cash Flow/Oper: | $13.06 | Equity: | $19.98 | ||
| Cash Flow/Fin: | $38.32 | Cash: | $3.77 | ||
| Cash Flow/Inv: | -$51.38 | ||||
| Competition |
| The business of equipment leasing and secured financing is highly competitive. The Company competes for customers with a number of international, national and regional finance and leasing companies and banks. In addition, the Company's competitors include equipment manufacturers that finance the sale or lease of their products themselves. Many of the Company's competitors and potential competitors have greater financial, marketing and operational resources than the Company. The Company's competitors, some of which are larger and more established than the Company, may have a lower cost of funds than the Company and access to capital markets and to other funding sources that may not be available to the Company. The Company believes that the principal competitive factors in the equipment leasing and secured financing business, and the bases on which it competes, are (i) access to sufficient capital with an efficient cost of funds, (ii) the ability to provide flexible lease and financing structures, (iii) the ability to develop and maintain "relationship" accounts, (iv) customer service, including customized value-added services, (v) repeat business generated on relationship accounts, (vii) the skill and expertise of a company's employees and (vii) the image a company enjoys among lessees in the marketplace. |
| Business Plan |
| The Company intends to continue to develop strong relationships with new customers by understanding how different services and structures affect each customer's operations and expectations. The Company intends to respond to the needs of its customers by (i) structuring creative, customized products, (ii) establishing capital structures to finance these products and (iii) providing the operational support and flexibility required to manage and service these products efficiently. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for working capital and general corporate purposes including repayment of all outstanding indebtedness to parent company and a portion of amounts outstanding under the company's secured bank warehouse credit facility. |