| IPO Company Profile |
| SEC Filings | Peer IPO Companies |
| Northern Radio Network Corp. |
| 1491 M-32 West, Alpena, MI 49707 * (517) 334-4611 |
| The company is one of the largest radio broadcasting companies in Northern Michigan. The company will own and operate six radio stations in small, but developing Northern Michigan markets, including two of the area's largest radio revenue markets. |
| Manager | Tier | Phone |
| Non-Identified Underwriter | Lead Manager |
| NASSCM: | NRAD | Service: | SIC 4832 | |
| Type of Shares: | Common Shares | Filing Date: | 6/24/98 | |
| U.S. Shares Filed: | 1,500,000 | Filing Range: | $4.50 - $5.50 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $7,500,000 | |
| Primary Shares: | 1,500,000 | Expenses: | $384,997 | |
| Secondary Shares: | 0 | Post-IPO Shares: | 3,200,000 | |
| Employees: | 50 |
| Issuer's Law Firm: | General Counsel |
| Registrar/Transfer Agent: | Self Administered |
| Auditor: | Plante & Moran, LLP |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/97 | 3/31/98 | 3/31/97 | 3/31/98 | ||
| Revenue: | $1.70 | $0.31 | $0.34 | Assets: | $1.31 |
| Net Income: | -$0.25 | -$0.15 | -$0.12 | Curr Assets: | $0.19 |
| EPS: | -$3.03 | -$1.73 | -$1.46 | Liabilities: | $1.20 |
| Prior EPS: | -$5.11 | Curr Liab: | $0.90 | ||
| Cash Flow/Oper: | -$0.06 | -$0.25 | -$0.18 | Equity: | $0.11 |
| Cash Flow/Fin: | $0.15 | $0.39 | $0.25 | Cash: | |
| Cash Flow/Inv: | -$0.04 | -$0.14 | -$0.07 | Working Cap: | -$0.72 |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to complete the acquisition of the pending transaction, to hire additional sales and management personnel for the operations of the radio station properties being purchased in the pending transactions, for the repayment of indebtedness and for general corporate purposes. |
| Additional Underwriter Compensation |
| Warrant to purchase 250,000 shares/units at a nominal price. |