|
Sealy Corp (ZZ) |
|
|
|
|
|
Recapitalization & IPO transactions |
|
|
$mm |
|
TOTAL PROFIT ($mm) |
|
|
$951 |
|
on no remaining invested capital |
|
|
|
|
|
|
|
|
|
Purchase price & how financed |
|
|
$mm |
|
|
. New Class A common stock (equity in) |
|
$436 |
|
|
. Paid by restructured debt |
|
|
$740 |
|
|
Price |
|
|
$1,176 |
|
|
|
|
|
|
|
|
Equity in |
|
|
|
|
$436 |
|
Received back |
|
|
|
|
|
|
From buy-in transaction |
|
|
|
|
April 6, 2004 |
|
|
|
|
|
. Purchase Transaction fees |
|
$116 |
|
|
July 16, 2004 |
|
|
|
|
|
. Notes placed with institutions |
|
$75 |
|
|
. Stock placed with institutions |
|
$48 |
|
|
|
subtotal |
$239 |
|
|
|
From IPO |
|
|
|
|
|
. Dividend |
|
|
$125 |
|
|
. Mgt termination fee |
|
$11 |
|
|
. Sale of shares (8*$16) |
|
$128 |
|
|
Over allotment |
|
|
|
|
|
underwriter option(4.2*$16) |
|
|
|
|
|
|
|
$67 |
|
|
|
subtotal |
$331 |
|
|
|
|
|
|
|
$570 |
|
Private equity made this ==> |
|
|
$134 |
|
|
AND |
|
|
|
|
Retains 47mm shares worth (at $17.50 per) |
|
$817 |
|
|
|
|
|
========= |
|
TOTAL PROFIT ($mm) |
|
|
$951 |
|
on no remaining invested capital |
|
|
