| Galileo Technology Ltd. | |||
| Ticker: | GALTF | Hacharoshet St. 36 | |
| Exchange: | NASDAQ-National Market | Karmiel, ISRAL 20100 | |
| Industry: | High-Tech (SIC Code 3571) | ||
| # of Employees: | 80 | ||
| Type of Shares: | Ordinary Shares | Filing Date: | 7/1/97 | |
| U.S. Shares: | 3,000,000 | Offer Date: | 7/28/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $10.00 - $12.00 | |
| Primary Shares: | 3,000,000 | Offer Price: | $17.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.19 | |
| Offering Amount: | $33,000,000 | Selling: | $0.70 | |
| Expenses: | $1,300,000 | Reallowance: | $0.10 | |
| Shares Out After: | 19,390,967 |
| Manager | Tier | Phone |
| Alex. Brown & Sons Incorporated | Lead Manager | (410) 895-2700 |
| Montgomery Securities | Co-manager | (415) 627-2100 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| Issuer's Law Firm: | McCutchen, Doyle, Brown & Enersen |
| Bank's Law Firm: | Fenwick & West |
| Auditor: | Ernst & Young |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 3/31/97 | 3/31/96 | 3/31/97 | ||
| Revenue: | $6.46 | $4.40 | $0.54 | Assets: | $15.56 |
| Net Income: | -$0.95 | $0.48 | -$0.41 | Curr Assets: | $13.92 |
| EPS: | -$0.05 | $0.03 | Liabilities: | $7.18 | |
| Prior EPS: | $0.44 | -$0.25 | Curr Liabilities: | $6.76 | |
| Cash Flow/Oper: | -$1.20 | $1.98 | $0.18 | Equity: | $8.38 |
| Cash Flow/Fin: | $7.00 | $0.08 | -$0.15 | Cash: | $9.84 |
| Cash Flow/Inv: | -$2.62 | $0.08 | Working Cap: | $7.15 | |
| Business Description |
| The company defines, develops and markets digital semiconductor devices that perform critical functions for network systems. The company's products are designed to simplify design efforts, reduce development risk and costs and improve time to market. The company's "datacom systems on silicon" are designed to simplify design efforts, reduce development risk and costs, and substantially improve time-to-market for OEMs in the data communications equipment market. The company's existing products - system controllers, switched Ethernet LAN controller and remote access WAN controllers - provide three of the key functionalities of data communications systems. The company's products are sold to network system vendors such as Bay Networks, Inc., Cisco Systems Inc., Hewlett-Packard Company and Madge Networks N.V. The company has developed three product families that address network system vendors' needs. The company's system controllers interface with RISC microprocessors to manage a network system. The company also developed the first merchant single chip Ethernet switch. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for general corporate purposes including working capital needs and possible acquisitions. |
| Name of Shareholder | % Owned Before | % Owned After |
| Avigdor Willenz | 40.10% | 34.40% |
| Matty Karp | 16.20% | 13.90% |
| Christopher J. Schaepe | 12.90% | 11.10% |
| Galileo Technology Ltd. Stock Option Trust | 10.60% | 9.10% |
| Officer Name | Title | Age |
| Avigdor Willenz | Chief Executive Officer and Chairman of the Board of Directors | 40 |
| Manuel Alba | President of GTI and Director | 41 |
| George A. Hervey | Senior Vice President and Chief Financial Officer | 50 |
| David Shemla | Vice President of Communications | 37 |
| Menachem Schwartz | Vice President of Computer Aided Design | 40 |
| Eyal Waldman | Vice President of Engineering | 36 |
| Mitchell Kahn | Vice President of Marketing of GTI | 33 |
| Eliaz Lavi | Vice President of Operations, Quality & Reliability | 40 |
| John C. Mein | Vice President of Technical Sales of GTI | 44 |