| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies | Company's Home Page |
| Verisign, Inc. |
| 1390 Shorebird Way, Mountain View, CA 94043 * (650) 961-7500 |
| The company is the leading provider of digital certificate solutions and infrastructure needed by companies, government agencies, trading partners and individuals to conduct trusted and secure communications and commerce over the Internet. |
| Manager | Tier | Phone |
| Morgan Stanley Dean Witter Discover & Co. | Lead Manager | (212) 761-5900 |
| Hambrecht & Quist Incorporated | Co-manager | (415) 439-3626 |
| Wessels, Arnold & Henderson | Co-manager | (612) 373-6105 |
| NASNTL: | VRSN | Internet: | SIC 7371 | |
| Type of Shares: | Common Shares | Filing Date: | 11/21/97 | |
| U.S. Shares: | 3,000,000 | Offer Date: | 1/29/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.00 - $11.00 | |
| Primary Shares: | 3,000,000 | Offer Price: | $14.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.98 | |
| Offering Amount: | $30,000,000 | Selling: | $0.60 | |
| Expenses: | $0 | Reallowance: | $0.10 | |
| Post-IPO Shares: | - | |||
| Employees: | 162 |
| Issuer's Law Firm: | Fenwick & West |
| Bank's Law Firm: | Wilson, Sonsini, Goodrich & Rosati |
| Registrar/Transfer Agent: | ChaseMellon Shareholder Services, L.L.C. |
| Auditor: | KPMG Peat Marwick |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 9/30/97 | 9/30/96 | 9/30/97 | ||
| Revenue: | $1.35 | $6.12 | $0.77 | Assets: | $25.66 |
| Net Income: | -$10.24 | -$12.72 | -$5.95 | Curr Assets: | $16.43 |
| EPS: | -$0.74 | -$0.75 | -$0.47 | Liabilities: | $9.78 |
| Prior EPS: | -$11.84 | -$4.70 | Curr Liab: | $9.72 | |
| Cash Flow/Oper: | -$6.02 | $1.26 | $8.23 | Equity: | $15.88 |
| Cash Flow/Fin: | $37.77 | -$13.50 | -$1.97 | Cash: | $5.90 |
| Cash Flow/Inv: | -$4.45 | Working Cap: | $6.71 | ||
| Competition |
| The Company's digital certificate solutions are targeted at the new and rapidly evolving market for trusted and secure communications and commerce over IP networks. Although the competitive environment in this market has yet to develop fully, the Company anticipates that it will be intensely competitive, subject to rapid change and significantly affected by new product and service introductions and other market activities of industry participants. The Company's primary competitors are Entrust, GTE CyberTrust and IBM. The Company also experiences competition from a number of smaller companies that provide digital certificate solutions. The Company expects that competition from established and emerging companies in the financial and telecommunications industries will increase in the near term, and that the Company's primary long-term competitors may not yet have entered the market. Netscape has introduced software products that enable the issuance and management of digital certificates, and the Company believes that other companies could introduce such products. There can be no assurance that additional companies will not offer digital certificate solutions that are competitive with those of the Company. Increased competition could result in pricing pressures, reduced margins or the failure of the Company's products and services to achieve or maintain market acceptance, any of which could have a material adverse effect on the Company's business, operating results and financial condition. |
| Business Plan |
| The Company's objective is to enhance its position as the leading provider of digital certificate solutions and infrastructure needed by companies, government agencies, trading partners and individuals to conduct trusted and secure communications and commerce over IP networks. The Company's strategy to achieve this objective includes the following key elements: (I) Leverage Leadership Position to Drive Market Penetration, (ii) Leverage and Expand Strategic Relationships with Industry Leaders, (iii) Maintain Leadership in Technology, Infrastructure and Practices, (iv) Continue to Build the VeriSign Brand and (v) Expand Global Marketing and Distribution. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for general corporate purposes including capital expenditures and working capital. |
| Name of Shareholder | % Owned Before | % Owned After |
| D. James Bidzos | 28.40% | |
| Kevin R. Compton | 7.90% | |
| David J. Cowan | 7.80% | |
| William Chenevich | 6.00% | |
| Intel Corporation | 6.00% |
| Officer Name | Title | Age |
| D. James Bidzos | Chairman of the Board | 42 |
| Stratton D. Sclavos | President, Chief Executive Officer and Director | 36 |
| Timothy Tomlinson | Secretary and Director | 47 |
| Arnold Schaeffer | Vice President of Engineering | 34 |
| Nicholas F. Piazzola | Vice President of Federal Markets | 51 |
| Dana L. Evan | Vice President of Finance and Administration and Chief Financial Officer | 38 |
| Richard A. Yanowitch | Vice President of Marketing | 41 |
| Michael S. Baum | Vice President of Practices and External Affairs | 45 |
| Quentin P. Gallivan | Vice President of Sales and Field Operations | 40 |
| Ethel E. Daly | Vice President of Worldwide Operations | 53 |