FRIENDLY ICE CREAM CORP
S-1MEF, 1997-11-13
EATING PLACES
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<PAGE>
   AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON NOVEMBER 14, 1997
 
                                                      REGISTRATION NO. 333-
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
 
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                            ------------------------
 
                                    FORM S-1
 
                             REGISTRATION STATEMENT
 
                                     UNDER
 
                           THE SECURITIES ACT OF 1933
                            ------------------------
 
<TABLE>
<S>                                                   <C>
                 FRIENDLY ICE CREAM                                    FRIENDLY'S RESTAURANTS
                    CORPORATION                                           FRANCHISE, INC.
(Exact name of registrant issuer as specified in its  (Exact name of registrant guarantor as specified in its
                      charter)                                                charter)
                   MASSACHUSETTS                                              DELAWARE
              (State of Incorporation)                                (State of Incorporation)
                     04-2053130                                              51-0296446
        (I.R.S. Employer Identification No.)                    (I.R.S. Employer Identification No.)
                        5812                                                    5812
            (Primary Standard Industrial                            (Primary Standard Industrial
            Classification Code Number)                             Classification Code Number)
                  1855 BOSTON ROAD                                        1855 BOSTON ROAD
           WILBRAHAM, MASSACHUSETTS 01095                          WILBRAHAM, MASSACHUSETTS 01095
                   (413) 543-2400                                          (415) 543-2400
         (Address, including zip code, and                         (Address, including zip code,
       telephone number, including area code,                     and telephone number, including
    of registrant's principal executive offices)                  area code, of agent for service)
</TABLE>
 
                                AARON B. PARKER
                         FRIENDLY ICE CREAM CORPORATION
                                1855 BOSTON ROAD
                         WILBRAHAM, MASSACHUSETTS 01095
                                 (413) 543-2400
               (Name, address, including zip code, and telephone
               number, including area code, of agent for service)
                           --------------------------
 
                                   COPIES TO:
 
<TABLE>
<S>                                              <C>
              MICHAEL A. CAMPBELL                                 JOHN B. TEHAN
             Mayer, Brown & Platt                          Simpson Thacher & Bartlett
           190 South LaSalle Street                           425 Lexington Avenue
         Chicago, Illinois 60603-3441                          New York, NY 10017
                (312) 782-0600                                   (212) 455-2000
</TABLE>
 
                           --------------------------
 
        APPROXIMATE DATE OF COMMENCEMENT OF PROPOSED SALE TO THE PUBLIC:
 
As soon as practicable after the effective date of this Registration Statement.
                           --------------------------
 
    If any of the securities being registered on this form are to be offered on
a delayed or continuous basis pursuant to Rule 415 under the Securities Act of
1933, other than securities offered only in connection with dividend or interest
reinvestment plans, check the following box. / /
 
    If this Form is filed to register additional securities for an offering
pursuant to Rule 462 (b) under the Securities Act, please check the following
box and list the Securities Act registration statement number of the earlier
effective registration statement for the same offering. /X/ 333-34635
 
    If this Form is a post-effective amendment filed pursuant to Rule 462 (c)
under the Securities Act, check the following box and list the Securities Act
registration statement number of the earlier effective registration statement
for the same offering. / /
                           --------------------------
 
                        CALCULATION OF REGISTRATION FEE
 
<TABLE>
<CAPTION>
                                                                         PROPOSED MAXIMUM        PROPOSED
              TITLE OF EACH CLASS OF                    AMOUNT TO       OFFERING PRICE PER  MAXIMUM AGGREGATE       AMOUNT OF
           SECURITIES TO BE REGISTERED                BE REGISTERED        SENIOR NOTE      OFFERING PRICE(1)    REGISTRATION FEE
<S>                                                 <C>                 <C>                 <C>                 <C>
10.5% Senior Notes due 2007.......................     $25,000,000             100%            $25,000,000          $7,576 (2)
Guarantee of 10.5% Senior Notes due 2007 by
  Friendly's Restaurants Franchise, Inc...........                                                                     (3)
</TABLE>
 
(1) Estimated solely for the purpose of calculating the registration fee
    pursuant to Rule 457.
 
(2) Fee previously paid for the registration of the Senior Notes on Registration
    Statement 333-34635, initially filed with the Commission on August 29, 1997.
 
(3) Pursuant to Rule 457(n), no separate filing fee is required for the
    guarantee.
 
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE>
                                EXPLANATORY NOTE
 
    This Registration Statement is being filed pursuant to Rule 462(b) under the
Securities Act of 1933, as amended. The contents of the Registration Statement
on Form S-1 (Commission File No. 333-34635) filed by Friendly Ice Cream
Corporation and Friendly's Restaurants Franchise, Inc. (together, the
"Registrants") with the Securities and Exchange Commission (the "Commission") on
August 29, 1997, as amended by Amendment No. 1 to the Registration Statement
filed by the Registrants with the Commission on October 6, 1997, as further
amended by Amendment No. 2 to the Registration Statement filed by the
Registrants with the Commission on October 20, 1997 and as further amended by
Amendment No. 3 to the Registration Statement filed by the Registrants with the
Commission on November 6, 1997, which was declared effective by the Commission
on November 13, 1997, are incorporated herein by reference.
<PAGE>
                                   SIGNATURES
 
    Pursuant to the requirements of the Securities Act of 1933, the Registrant
has duly caused this Registration Statement, or amendment thereto, to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of
Wilbraham, State of Massachusetts, on the 13th day of November, 1997.
 
<TABLE>
<S>                             <C>  <C>
                                FRIENDLY ICE CREAM CORPORATION
 
                                By:  /s/ GEORGE G. ROLLER
                                     -----------------------------------------
                                     Name: George G. Roller
                                     Title: Vice President, Finance, Chief
                                     Financial Officer and Treasurer
</TABLE>
 
    Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement, or amendment thereto, has been signed by the following
persons in the capacities and on the date indicated.
 
          SIGNATURES                 TITLE (CAPACITY)              DATE
- ------------------------------  --------------------------  -------------------
 
                                Chairman of the Board,
              *                   Chief Executive Officer
- ------------------------------    and President (Principal   November 13, 1997
       Donald N. Smith            Executive Officer and
                                  Director)
 
                                Vice President, Finance,
     /s/ GEORGE G. ROLLER         Chief Financial Officer
- ------------------------------    and Treasurer              November 13, 1997
       George G. Roller           (Principal Financial and
                                  Accounting Officer)
 
              *
- ------------------------------  Director                     November 13, 1997
  Charles A. Ledsinger, Jr.
 
              *
- ------------------------------  Director                     November 13, 1997
       Steven L. Ezzes
 
- ------------------------------  Director
         Barry Krantz
 
- ------------------------------  Director
      Gregory L. Segall
 
    * /s/ GEORGE G. ROLLER
- ------------------------------
       George G. Roller
       Attorney-in-fact
 
                                      II-1
<PAGE>
                                   SIGNATURES
 
    Pursuant to the requirements of the Securities Act of 1933, the Registrant
has duly caused this Registration Statement, or amendment thereto, to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of
Wilbraham, State of Massachusetts, on the 13th day of November, 1997.
 
                                FRIENDLY'S RESTAURANTS FRANCHISE, INC.
 
                                By:   /s/ GEORGE G. ROLLER
                                      -----------------------------------------
                                      Name: George G. Roller
                                      Title: Vice President, Finance
 
    Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement, or amendment thereto, has been signed by the following
persons in the capacities and on the date indicated.
 
          SIGNATURES                 TITLE (CAPACITY)               DATE
- ------------------------------  ---------------------------  -------------------
 
                                Chairman of the Board and
              *                   Chief Executive Officer
- ------------------------------    (Principal Executive        November 13, 1997
       Donald N. Smith            Officer and Director)
 
                                Vice President, Chief
     /s/ GEORGE G. ROLLER         Financial Officer and
- ------------------------------    Treasurer (Principal        November 13, 1997
       George G. Roller           Financial and Accounting
                                  Officer)
 
              *
- ------------------------------  Director                      November 13, 1997
   Joseph A. O'Shaughnessy
 
    * /s/ GEORGE G. ROLLER
- ------------------------------
       George G. Roller
       Attorney-in-fact
 
                                      II-2
<PAGE>
                                 EXHIBIT INDEX
 
<TABLE>
<CAPTION>
EXHIBIT NUMBER                                                DESCRIPTION
- -----------------  -------------------------------------------------------------------------------------------------
 
<S>                <C>
          5.1      Opinion and Consent of Mayer, Brown & Platt, counsel for the Company regarding the validity of
                    the offered securities.
 
         23.1      Consent of Mayer, Brown & Platt (included in Exhibit 5.1)
 
         23.2      Consent of Arthur Anderson LLP
 
         24.1      Power of Attorney (Incorporated by reference to Exhibit 24.1 to the Registrant's Registration
                    Statement on Form S-1, No. 333-34635.)
</TABLE>

<PAGE>
                                                                     EXHIBIT 5.1
 
                       [MAYER, BROWN & PLATT LETTERHEAD]
 
                                          November 13, 1997
 
Friendly Ice Cream Corporation
1855 Boston Road
Wilbraham, Massachusetts 01095
 
Ladies and Gentlemen:
 
    We have acted as counsel to Friendly Ice Cream Corporation, a Massachusetts
corporation (the "Corporation") and Friendly's Restaurant Franchise, Inc., a
Delaware corporation (the "Subsidiary"), in connection with the corporate
proceedings (the "Proceedings") taken and to be taken relating to the public
offering of $25,000,000 of the Company's Senior Notes due 2007 (the "Notes"), as
unconditionally guaranteed by the Subsidiary (such guarantee being the
"Guarantees"). The Notes and the Guarantees are to be issued pursuant to an
Indenture between the Company, the Subsidiary and The Bank of New York, as
Trustee (the "Indenture"). In this connection, we have examined such corporate
and other records, instruments, certificates and documents as we considered
necessary to enable us to express this opinion.
 
    Based on the foregoing, it is our opinion that, upon completion of the
Proceedings, the Notes and the Guarantees will have been duly authorized for
issuance and, when the Indenture has been duly executed and delivered by the
parties thereto and when the Notes and the Guarantees are duly executed,
authenticated, issued and delivered, the Notes and the Guarantees will
constitute valid and legally binding obligations of the Company and the
Subsidiary, respectively, entitled to the benefits of the Indenture, subject to
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and
similar laws of general applicability relating to or affecting creditors' rights
and to general equity principles (whether considered in a proceeding at law or
in equity).
 
    We consent to the filing of this opinion as an exhibit to the registration
statement relating to the Notes and the Guarantees and to the reference to us
under the caption "Legal Matters" therein.
 
                                          Very truly yours,
                                          /s/ Mayer Brown & Platt
                                          MAYER, BROWN & PLATT
 
MAC:dpz

<PAGE>
                                                                    EXHIBIT 23.2
 
                   CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
 
    As independent public accountants, we hereby consent to the incorporation by
reference in this registration statement of our report dated February 14, 1997
(except with respect to the matter discussed in Note 16 of Notes to Consolidated
Financial Statements, as to which the date is July 14, 1997) included in
Friendly Ice Cream Corporation's Form S-1 Registration Statement File No.
333-34635.
 
                                          ARTHUR ANDERSEN LLP
 
Hartford, Connecticut
 
November 13, 1997


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