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| Metawave Communications Corporation |
| 10735 Willows Road NE, P.O. Box 97069, Redmond, WA 98073 * (425) 702-5600 |
| Business Description | The company designs, develops, manufactures and markets spectrum management solutions for the wireless communications industry. |
| Offering Information Company has | |||
| Trading As | MTWV (NASNTL) | Industry | Telecommunications (SIC 3663) |
| Type of Stock Offered | Common Shares | Filing Date | 7/22/98 |
| Domestic Shares Offered | 6,250,000 | Offer Date | 4/26/00 |
| Foreign Shares Offered | 0 | Filing Range | $14.00 - $16.00 |
| Company Shares | 6,250,000 | Offer Price | $9.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.630 |
| Gross Proceeds | $56,250,000 | Selling | $0.370 |
| Expenses | $825,000 | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | 200 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| BT Alex Brown | Lead Manager | (410) 727-1700 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Nationsbanc Montgomery Securities, Inc. | Co-manager | (415) 627-2100 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 6 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/95 | 12/31/96 | 12/31/97 | 6/30/97 | 6/30/98 | ||
| Revenues | - | - | 0.000 | 1.291 | 1.450 | 0.392 | 6.501 |
| Income from Oper. | - | - | - | - | -22.506 | -9.100 | -14.541 |
| Net Income | - | - | -1.000 | -10.795 | -22.104 | -8.927 | -16.183 |
| E.P.S | - | - | - | - | -1.540 | - | -1.010 |
| Revenue Growth (%) | - | - | - | 12.316 | 1,558.42 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -23.56 | -9.81 | 20.76 | ||||
| Cash Flow - Inv. | -0.62 | -0.87 | -0.50 | ||||
| Cash Flow - Fin. | 18.42 | -0.35 | 28.24 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 6/30/98 | Financial Ratios | ||||
| Total Assets | 46.56 | Current Assets | 41.36 | Current Ratio | 1.10 |
| Total Liab. | 41.65 | Current Liab. | 37.57 | Debt Ratio | 89.46% |
| Total Equity | 4.91 | Working Cap. | 3.79 | Debt to Equity Ratio | 8.49 |
| Cash | 20.31 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for repayment of indebtedness, working capital and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Venture Law Group |
| Bank's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | Ernst & Young |
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