| IPO Company Profile |
| SEC Filings | Peer IPO Companies |
| Commerce Casualty Group, Inc. |
| 9140 Arrowpoint Boulevard, Suite 200, Charlotte, NC 28273 * (704) 525-8478 |
| The Company is a provider of worker's compensation insurance in Georgia, North Carolina, South Carolina, and Virginia. The company has established a network of approximately 93 independent insurance agents and agencies in those states. |
| Manager | Tier | Phone |
| First London Securities Corporation | Lead Manager | (800) 248-9461 |
| Employees: | 22 | Financial: | SIC 6331 | |
| Type of Shares: | Common Shares | Filing Date: | 8/12/98 | |
| U.S. Shares Filed: | 2,000,000 | Filing Price: | $5.19 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $10,375,000 | |
| Primary Shares: | 2,000,000 | Expenses: | - | |
| Secondary Shares: | 0 | Post-IPO Shares: | 6,464,021 |
| Issuer's Law Firm: | Charles Barkley |
| Bank's Law Firm: | Jackson & Walker |
| Registrar/Transfer Agent: | First Union National Bank North Carolina |
| Auditor: | Killman, Murrell & Company |
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: | $5.61 | $2.02 | $1.00 | Assets: | $13.41 |
| Net Income: | -$0.12 | -$0.46 | -$0.07 | Curr Assets: | |
| EPS: | $0.03 | -$0.11 | -$0.02 | Liabilities: | $11.66 |
| Prior EPS: | -$0.14 | Curr Liab: | |||
| Cash Flow/Oper: | $3.19 | $0.34 | $0.43 | Equity: | $1.75 |
| Cash Flow/Fin: | $0.96 | $0.49 | $0.75 | Cash: | $6.19 |
| Cash Flow/Inv: | -$0.09 | -$0.04 | |||
| Use of Proceeds |
| The net proceeds will be used to fund the capital surplus of the Insurance Subsidiary; to fund the initial operations of the newly created Finance Subsidiary; repayment of debt and to expand the existing network of insurance agents. Additional amounts will be divided between additional funding of capital surplus and the balance to the Company for operations. |