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| Union Drilling, Inc. |
| South Pittsburgh Technology Park 3117 Washington Pike, Bridgeville, PA 15017 * (412) 257-9390 |
| Business Description | The company is the largest provider of contract land drilling services in the Appalachian Basin and one of the largest contractors operating in the Uintah Basin of northeastern Utah and western Colorado. |
|
Filing Information Not yet | |||
| To Trade As | UDRL (NASNTL) | Industry | Natural Resource (SIC 1381) |
| Type of Stock Offered | Common Shares | Filing Date | 8/2/2001 |
| Domestic Shares Filed | 0 | Filing Price | - - |
| Foreign Shares Filed | 0 | Offering Amount | $50,000,000 |
| Company Shares | 0 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Bear, Stearns & Co. Inc. | Lead Manager | (212) 272-4850 |
| McDonald & Company Securities, Inc. | Co-manager | (216) 443-2370 |
| 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 | 12/31/1998 | 12/31/1999 | 12/31/2000 | 3/31/2000 | 3/31/2001 | ||
| Revenues | - | - | 43.667 | 38.560 | 51.393 | 10.003 | 13.849 |
| Income from Oper. | - | - | -1.234 | -5.230 | -2.952 | -1.752 | -0.535 |
| Net Income | - | - | -1.164 | -6.719 | -3.870 | -2.050 | -0.764 |
| E.P.S | - | - | -0.230 | -1.340 | -0.770 | -0.410 | -0.150 |
| Revenue Growth (%) | - | - | -11.70 | 33.281 | 38.45 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -0.41 | -0.67 | 0.23 | ||||
| Cash Flow - Inv. | -8.97 | -1.30 | -0.96 | ||||
| Cash Flow - Fin. | 9.15 | 1.60 | 0.59 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/2001 | Financial Ratios | ||||
| Total Assets | 44.39 | Current Assets | 10.16 | Current Ratio | 1.04 |
| Total Liab. | 16.38 | Current Liab. | 9.77 | Debt Ratio | 36.91% |
| Total Equity | 28.00 | Working Cap. | 0.39 | Debt to Equity Ratio | 0.59 |
| Cash | 0.02 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to modify and upgrade drilling rigs and to repay debt and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Satterlee Stephens Burke & Burke LLP |
| Bank's Law Firm | Vinson & Elkins |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | Ernst & Young |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Morgan Stanley Private Equity Entities | 100.00 | |
| Note: represents ownership of 5% or more prior to the offering. | ||