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| Dollar Express, Inc. |
| 1700 Tomlinson Road, Philadelphia, PA 19116 * (215) 969-7888 |
| Business Description | The company is a leading operator of fixed $1.00 price point stores in the United States. Our Dollar Express stores operate in the deep discount segment of the discount retail industry, which is among the fastest growing segments in the $420 billion mass market retail industry. |
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Filing Information IPO has been | |||
| To Trade As | DLRX (NASNTL) | Industry | Retail (SIC 5331) |
| Type of Stock Offered | Common Shares | Filing Date | 12/23/99 |
| Domestic Shares Filed | 3,400,000 | Filing Range | $14.00 - $16.00 |
| Foreign Shares Filed | 0 | Offering Amount | $51,000,000 |
| Company Shares | 3,400,000 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| First Union Capital Markets Corp. | Co-manager | (804) 649-2311 |
| Legg Mason Wood Walker, Inc. | Co-manager | (410) 539-4038 |
| Prudential Securities Incorporated | Co-manager | (212) 778-5420 |
| U.S. Bancorp Piper Jaffray | Co-manager | (612) 342-6220 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/96 | 12/31/97 | 12/31/98 | 9/30/98 | 9/30/99 | ||
| Revenues | - | - | 88.362 | 103.030 | 130.802 | 86.290 | 100.348 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | 4.224 | 4.649 | 10.803 | 5.287 | 4.445 |
| E.P.S | - | - | 0.650 | 0.720 | 1.670 | - | - |
| Revenue Growth (%) | - | - | 16.60 | 26.955 | 16.29 | ||
| Net Income Growth (%) | - | - | 10.06 | 132.37 | -15.93 | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | 4.78 | 4.51 | 8.26 | 4.43 | 6.13 |
| Cash Flow - Oper. | 14.51 | - | - | ||||
| Cash Flow - Inv. | -3.65 | - | - | ||||
| Cash Flow - Fin. | -2.06 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 43.59 | Current Assets | - | Current Ratio | - |
| Total Liab. | 88.17 | Current Liab. | - | Debt Ratio | 202.27% |
| Total Equity | -44.58 | Working Cap. | -0.65 | Debt to Equity Ratio | - |
| Cash | - | Return on Assets | 10.20% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to repay debt under a term loan facility, repay debt under a revolving debt facility, fund the opening of additional stores and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Pepper Hamilton & Scheetz |
| Bank's Law Firm | Fried, Frank, Harris, Shriver & Jacobson |
| Auditor | Grant Thornton |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Advent International Corporation | 33.60 | |
| Murray Spain | 32.20 | |
| Bernard Spain | 28.60 | |
| Global Private Equity III Limited Partnership | 28.50 | |
| Note: represents ownership of 5% or more prior to the offering. | ||