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| Optibase Ltd. |
| 2 Gav Yam Center 7 Shenkar Street, Herzliya, Israel 46725 |
| Business Description | The company provides high-quality, cost effective, cost-effective solutions that enable that preparation and delivery of MPEG-based digital video over ATM and IP-based networks. |
| Offering Information Company has | |||
| Trading As | OBAS (NASNTL) | Industry | High-Tech (SIC 7379) |
| Type of Stock Offered | Ordinary Shares | Filing Date | 01/27/1999 |
| Domestic Shares Offered | 4,350,000 | Offer Date | 04/07/1999 |
| Foreign Shares Offered | 0 | Filing Range | $8.00 - $9.00 |
| Company Shares | 2,500,000 | Offer Price | $7.00 |
| Selling Shrhldrs Shares | 1,850,000 | Gross Spread | $0.490 |
| Gross Proceeds | $30,450,000 | Selling | $0.310 |
| Expenses | $1,362,000 | Reallowance | $0.100 |
| Post-IPO Shares | 8,143,510 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| C.E. Unterberg, Towbin | Lead Manager | (212) 572-8060 |
| Needham & Company | Co-manager | (212) 705-0344 |
| Nomura Securities International Inc. | Co-manager | (212) 667-2460 |
| 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 | 12/31/1994 | 12/31/1995 | 12/31/1996 | 12/31/1997 | 12/31/1998 | ||
| Revenues | 8.590 | 10.404 | 12.772 | 14.428 | 20.399 | - | - |
| Income from Oper. | -1.534 | -0.835 | -0.466 | 0.161 | 1.805 | - | - |
| Net Income | -2.831 | -0.812 | -0.529 | 0.058 | 1.620 | - | - |
| E.P.S | -0.840 | -0.220 | -0.140 | 0.020 | 0.420 | - | - |
| Revenue Growth (%) | 21.12 | 22.76 | 12.97 | 41.385 | - | ||
| Net Income Growth (%) | - | - | - | 2,693.10 | - | ||
| Oper. Profit Margin (%) | - | - | - | 1.12 | 8.85 | - | - |
| Net Profit Margin (%) | - | - | - | 0.40 | 7.94 | - | - |
| Cash Flow - Oper. | 3.80 | - | - | ||||
| Cash Flow - Inv. | -0.96 | - | - | ||||
| Cash Flow - Fin. | -0.56 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1998 | Financial Ratios | ||||
| Total Assets | 12.97 | Current Assets | 10.38 | Current Ratio | 1.94 |
| Total Liab. | 6.36 | Current Liab. | 5.36 | Debt Ratio | 49.03% |
| Total Equity | 6.61 | Working Cap. | 5.02 | Debt to Equity Ratio | 0.96 |
| Cash | 3.73 | Return on Assets | 12.49% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for the expansion of sales, marketing and distribution activities, research and development activities, repayment of debt, working capital, the potential acquisition of complementary businesses, products and technologies and other general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Bank's Law Firm | Morrison & Foerster |
| Auditor | Ernst & Young |
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