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| USInternetworking, Inc. |
| One USI Plaza, Annapolis, MD 21401 * (410) 897-4400 |
| Business Description | The company's service offerings make it possible for its clients to use leading business software applications without the cost and burden of owning or managing the underlying technology. |
| Offering Information Company has | |||
| Trading As | USIX (NASNTL) | Industry | High-Tech (SIC 7379) |
| Type of Stock Offered | Common Shares | Filing Date | 01/15/1999 |
| Domestic Shares Offered | 6,000,000 | Offer Date | 04/08/1999 |
| Foreign Shares Offered | 0 | Filing Range | $16.00 - $18.00 |
| Company Shares | 6,000,000 | Offer Price | $21.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.470 |
| Gross Proceeds | $126,000,000 | Selling | $0.890 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 38,868,276 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| BT Alex Brown | Co-manager | (410) 727-1700 |
| Legg Mason Wood Walker, Inc. | Co-manager | (410) 539-4038 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1998 | ||||||
| Revenues | - | - | - | - | 13.938 | - | - |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | - | - | -34.268 | - | - |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | - | - | - | ||||
| Cash Flow - Inv. | - | - | - | ||||
| Cash Flow - Fin. | - | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1998 | Financial Ratios | ||||
| Total Assets | 107.53 | Current Assets | 49.70 | Current Ratio | 1.94 |
| Total Liab. | 42.60 | Current Liab. | 25.69 | Debt Ratio | 39.61% |
| Total Equity | 64.93 | Working Cap. | 24.02 | Debt to Equity Ratio | 0.66 |
| Cash | 43.80 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for the continued expansion of the their network, the addition of services to our IMAP offerings, payment of preferred stock dividend, working capital and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Latham & Watkins |
| Bank's Law Firm | Cahill Gordon & Reindel |
| Auditor | Ernst & Young |
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