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| Seminis, Inc. |
| 1905 Lirio Avenue, Saticoy, CA 93004 * (805) 647-1572 |
| Business Description | The company is the largest developer, producer and marketer of fruit and vegetable seeds in the world. |
| Offering Information Company has | |||
| Trading As | SMNS (NASNTL) | Industry | Agricultural (SIC 0181) |
| Type of Stock Offered | Class A Common Shares | Filing Date | 02/11/1999 |
| Domestic Shares Offered | 11,000,000 | Offer Date | 06/29/1999 |
| Foreign Shares Offered | 2,750,000 | Filing Range | $17.50 - $21.50 |
| Company Shares | 13,750,000 | Offer Price | $15.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.870 |
| Gross Proceeds | $206,250,000 | Selling | $0.520 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 13,750,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| ING Baring Furman Selz | Co-manager | (212) 309-8200 |
| J.P. Morgan & Co. | Co-manager | (212) 648-0517 |
| Morgan Stanley Dean Witter | Co-manager | (212) 761-5900 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| Vectormex Incorporated | Co-manager | (212) 407-5500 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 09/30/1995 | 09/30/1996 | 09/30/1997 | 09/30/1998 | |||
| Revenues | - | 101.833 | 381.398 | 379.544 | 428.423 | - | - |
| Income from Oper. | - | -5.315 | -56.085 | 11.325 | 6.762 | - | - |
| Net Income | - | -5.643 | -64.418 | 2.089 | -133.367 | - | - |
| E.P.S | - | -0.190 | -2.150 | 0.070 | -4.230 | - | - |
| Revenue Growth (%) | - | 274.53 | -0.49 | 12.878 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | 2.98 | 1.58 | - | - |
| Net Profit Margin (%) | - | - | - | 0.55 | - | - | - |
| Cash Flow - Oper. | -25.72 | - | - | ||||
| Cash Flow - Inv. | -184.30 | - | - | ||||
| Cash Flow - Fin. | 208.45 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 09/30/1998 | Financial Ratios | ||||
| Total Assets | 862.19 | Current Assets | 425.32 | Current Ratio | 2.78 |
| Total Liab. | 701.77 | Current Liab. | 153.22 | Debt Ratio | 81.39% |
| Total Equity | 160.42 | Working Cap. | 272.10 | Debt to Equity Ratio | 4.37 |
| Cash | 28.90 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to redeem preferred stock and repay certain indebtedness. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Milbank, Tweed, Hadley & McCloy |
| Bank's Law Firm | Cahill Gordon & Reindel |
| Auditor | Pricewaterhouse Coopers LLC |
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