| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies | Company's Home Page |
| Interactive Magic, Inc. |
| 215 Southport Drive, Suite 1000, Morrisville, NC 27560 * (919) 461-0722 |
| The company develops, publishes and distributes interactive, real-time, 3D entertainment software, focusing on simulation and strategy games for CD-ROM and online/Internet use. |
| Manager | Tier | Phone |
| Bluestone Capital Partners, L.P. | Lead Manager | (212) 850-9428 |
| Royce Investment Group, Inc. | Co-manager | (516) 393-8300 |
| NASNTL: | IMGK | High-Tech: | SIC 7372 | |
| Type of Shares: | Common Shares | Filing Date: | 5/28/98 | |
| U.S. Shares: | 2,600,000 | Offer Date: | 7/22/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $8.00 - $10.00 | |
| Primary Shares: | 2,600,000 | Offer Price: | $8.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.56 | |
| Offering Amount: | $23,400,000 | Selling: | $0.33 | |
| Expenses: | $900,000 | Reallowance: | $0.10 | |
| Post-IPO Shares: | 9,593,699 | |||
| Employees: | 121 |
| Issuer's Law Firm: | Dorsett, Mitchell & Jernigan, L.L.P. |
| Bank's Law Firm: | Tenzer, Greenblatt, Fallon & Kaplan |
| Registrar/Transfer Agent: | Wachovia Bank of North Carolina |
| 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 Audited Income | Balance Sheet | ||
| 12/31/97 | 3/31/98 | 3/31/97 | 3/31/98 | ||
| Revenue: | $16.50 | $4.91 | $3.96 | Assets: | $9.21 |
| Net Income: | -$4.30 | -$0.62 | -$0.82 | Curr Assets: | $7.99 |
| EPS: | -$0.68 | -$0.10 | Liabilities: | $12.97 | |
| Prior EPS: | Curr Liab: | $7.19 | |||
| Cash Flow/Oper: | -$3.77 | -$1.33 | -$1.51 | Equity: | -$3.76 |
| Cash Flow/Fin: | $5.09 | $1.72 | $1.68 | Cash: | $0.12 |
| Cash Flow/Inv: | -$1.23 | -$0.63 | -$0.32 | Working Cap: | $0.80 |
| Competition |
| At present, the Company competes primarily against other companies offering high-end simulation and strategy products. In particular, the Company's competitors for its CD-ROM products include NovaLogic, Inc., Electronic Arts, Inc., MicroProse, Inc., Interplay Entertainment Corp., Activision, Inc. and Cendant Corp. (formerly CUC/Sierra On-Line). The Company also competes with companies providing online games, including Kesmai Corporation, VR1 Inc., Simutronics Corporation and NovaLogic, Inc. Many of the Company's existing and future competitors have greater financial, technical, marketing, sales and customer support resources, as well as greater name recognition and better access to consumers, than the Company. There can be no assurance that the Company will respond effectively to market or technological changes or compete successfully in the future. |
| Business Plan |
| The Company's objective is to become one of the world's leading providers of CD-ROM and real-time large-scale multiplayer online simulation and strategy games. Key elements of the Company's strategy are to: (I) Increase online recurring revenue, (ii) Focus on simulation and strategy games and expand brand recognition, (iii) Manage risk through internal and external product development, (iv) Expand worldwide distribution network, (v) Leverage core technologies and (vi) Expand operations through strategic acquisitions. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of indebtedness, sales and marketing, product development, equipment purchases, expansion of international operations, research and development, and working capital and general corporate purposes, including possible acquisitions. |
| Additional Underwriter Compensation |
| Warrant to purchase 2,800,000 shares/units at $280.00 per share/unit. |