| Ticker: | DIGX | 6800 Virginia Manor Road | |
| Exchange: | NASDAQ-National Market | Beltsville, Maryland 20705 | |
| Industry: | High-Tech | (301) 847-5000 |
| Type of Shares: | Common Shares | Filing Date: | 6/11/96 | |
| U.S. Shares: | 4,500,000 | Offer Date: | 10/16/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.00 - $11.00 | |
| Primary Shares: | 4,500,000 | Offer Price: | $10.13 | |
| Secondary Shares: | 0 | Gross Spread: | $0.71 | |
| Offering Amount: | $45,000,000 | Selling: | $0.42 | |
| Expenses: | $1,200,000 | Reallowance: | $0.10 | |
| Shares Out After: | 10,600,964 |
| Manager | Tier | Phone |
| Friedman, Billings, Ramsey & Co., Inc. | Lead Manager | (703) 312-9500 |
| Auditor: Ernst & Young | |||||
| 6 Month Ending Financials | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/96 | 6/30/96 | ||
| Revenue: | $5.08 | $5.24 | $1.67 | Assets: | $18.84 |
| Net Income: | -$4.32 | -$7.35 | -$0.94 | Liabilities: | $16.26 |
| EPS: | -$0.47 | -$0.69 | Equity: | $2.58 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Digex, Incorporated is a leading independent national Internet service provider that focuses exclusively on businesses, government agencies and other institutional customers. The company offers a comprehensive range of INDUSTRIAL STRENGTH Internet solutions, including business connectivity, Web server hosting, consulting and education services and security and other network products. After receiving its first major infusion of institutional equity capital in March 1995, the company reoriented its strategy to focus exclusively on business customers, who generally require high bandwidth connectivity, and also began to develop its Web server hosting business. Additionally, the company brought in an experienced management team in the first quarter of 1996. As a result, the company's leased line and server customers have grown from approximately 65 accounts at April 30, 1995 to approximately 840 accounts at June 30, 1996. |
| Use of Proceeds |
| Proceeds from the offering will be used to fund the expansion of its networking infrastructure, to acquire business-focused regional ISPs or to purchase their subscriber bases, to fund anticipated operating losses and for general corporate purposes. |
©1996 IPO Data Systems, Inc. - All rights reserved.