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| Nassau Broadcasting Corporation |
| 619 Alexander Road, Princeton, NJ 08540 * (609) 452-9696 |
| Business Description | The company is a radio broadcasting focused on building local radio station clusters in demographically attractive suburban areas surrounding major metropolitan markets in the northeastern United States. |
|
Filing Information IPO has been | |||
| To Trade As | NBCR (NASNTL) | Industry | Telecommunications (SIC 4832) |
| Type of Stock Offered | Class A Common Shares | Filing Date | 5/9/00 |
| Domestic Shares Filed | 9,900,000 | Filing Range | $16.00 - $19.00 |
| Foreign Shares Filed | 2,500,000 | Offering Amount | $217,000,000 |
| Company Shares | 12,400,000 | 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 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/97 | 12/31/98 | 12/31/99 | 3/31/00 | |||
| Revenues | - | - | 20.891 | 27.349 | 60.868 | - | 14.153 |
| Income from Oper. | - | - | -0.158 | 1.309 | 3.019 | - | -0.137 |
| Net Income | - | - | -6.739 | -3.980 | -4.640 | - | -1.279 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | 30.91 | 122.560 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | 4.79 | 4.96 | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -0.17 | - | - | ||||
| Cash Flow - Inv. | -8.37 | - | - | ||||
| Cash Flow - Fin. | 2.07 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 305.95 | Current Assets | - | Current Ratio | - |
| Total Liab. | 237.48 | Current Liab. | - | Debt Ratio | 77.62% |
| Total Equity | 68.47 | Working Cap. | 5.93 | Debt to Equity Ratio | 3.47 |
| Cash | 2.00 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to redeem outstanding senior discount notes; to finance a portion of Aurora Communications; to finance most of the acquisition of two Allentown, PA radio stations; and to pay transaction costs and provide for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Skadden, Arps, Slate, Meagher & Flom |
| Bank's Law Firm | Shearman & Sterling |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | Grant Thornton |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Toronto Dominion Capital (U.S.A.), Inc. | ||
| Spectrum Equity Investors, L.P. | ||
| Grotech Partners IV, L.P. | ||
| Note: represents ownership of 5% or more prior to the offering. | ||