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| Invitrogen Corporation |
| 1600 Faraday Avenue, Carlsbad, CA 92008 * (760) 603-7200 |
| Business Description | The company develops, manufactures and markets research tools in kit form and provides research services to corporate, academic and government entities. |
| Offering Information Company has | |||
| Trading As | IVGN (NASNTL) | Industry | Pharmaceutical (SIC 2836) |
| Type of Stock Offered | Common Shares | Filing Date | 12/10/1998 |
| Domestic Shares Offered | 3,500,000 | Offer Date | 02/26/1999 |
| Foreign Shares Offered | 0 | Filing Range | $13.00 - $15.00 |
| Company Shares | 3,500,000 | Offer Price | $15.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.050 |
| Gross Proceeds | $52,500,000 | Selling | $0.630 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 12,613,960 | Employees | 225 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 371-0641 |
| Nationsbanc Montgomery Securities, Inc. | Co-manager | (415) 627-2100 |
| Warburg Dillon Read LLC | Co-manager | (203) 719-4290 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1995 | 12/31/1996 | 12/31/1997 | 09/30/1997 | 09/30/1998 | ||
| Revenues | - | - | 14.342 | 19.121 | 24.965 | 18.263 | 22.968 |
| Income from Oper. | - | - | 1.368 | 2.528 | 3.838 | 3.128 | 3.211 |
| Net Income | - | - | 1.156 | 1.744 | 2.633 | 1.995 | 2.338 |
| E.P.S | - | - | 0.100 | 0.190 | 0.250 | 0.200 | 0.200 |
| Revenue Growth (%) | - | - | 33.32 | 30.563 | 25.76 | ||
| Net Income Growth (%) | - | - | 50.87 | 50.97 | 17.19 | ||
| Oper. Profit Margin (%) | - | - | 9.54 | 13.22 | 15.37 | 13.98 | 17.13 |
| Net Profit Margin (%) | - | - | 8.06 | 9.12 | 10.55 | 10.18 | 10.92 |
| Cash Flow - Oper. | 2.92 | 1.76 | 2.17 | ||||
| Cash Flow - Inv. | -5.67 | -1.33 | -4.93 | ||||
| Cash Flow - Fin. | 6.75 | 6.75 | -0.24 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 09/30/1998 | Financial Ratios | ||||
| Total Assets | 20.85 | Current Assets | 12.81 | Current Ratio | 3.51 |
| Total Liab. | 5.29 | Current Liab. | 3.65 | Debt Ratio | 25.37% |
| Total Equity | 15.56 | Working Cap. | 9.16 | Debt to Equity Ratio | 0.34 |
| Cash | 5.87 | Return on Assets | 11.21% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for redemption of redeemable preferred stock issuable upon conversion of the outstanding Series A Convertible Redeemable Preferred Stock, payment of accrued dividends on the Convertible Preferred Stock, redemption of redeemable common stock of a subsidiary of the company, the continued development and manufacture of existing Invitrogen products and services, research and development of additional products and services, and working capital and other general corporate purposes including potential acquisition of products, technology or companies. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Gray Cary Ware & Freidenrich |
| Bank's Law Firm | Venture Law Group |
| Registrar/Transfer Agent | BankBoston |
| Auditor | Arthur Andersen |
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