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| Extreme Networks, Inc. |
| 10460 Bandley Drive, Cupertino, CA 95014 * (408) 342-0999 |
| Business Description | The company is a leading provider of next generation local area network (LAN) switching solutions that meet the increasing needs of enterprise LANs. Through the use of our custom ASICs and a common hardware, software and management architecture, The company offers its customers LAN solutions with increased performance, scalability, Policy-Based Quality of Service, ease of use and lower cost of ownership. |
| Offering Information Company has | |||
| Trading As | EXTR (NASNTL) | Industry | High-Tech (SIC 3571) |
| Type of Stock Offered | Common Shares | Filing Date | 02/05/1999 |
| Domestic Shares Offered | 7,000,000 | Offer Date | 04/09/1999 |
| Foreign Shares Offered | 0 | Filing Range | $13.00 - $15.00 |
| Company Shares | 7,000,000 | Offer Price | $17.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | - - |
| Gross Proceeds | $119,000,000 | Selling | - - |
| Expenses | - - | Reallowance | - - |
| Post-IPO Shares | 47,852,510 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Morgan Stanley Dean Witter Discover & Co. | Lead Manager | (212) 761-5900 |
| BancBoston Robertson Stephens | Co-manager | (415) 989-8500 |
| Dain Rauscher Wessels | Co-manager | (612) 371-2818 |
| 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 | 06/30/1997 | 06/30/1998 | 12/31/1997 | 12/31/1998 | |||
| Revenues | - | - | - | 0.256 | 23.579 | 6.104 | 30.851 |
| Income from Oper. | - | - | - | -8.060 | -13.959 | -6.491 | -4.237 |
| Net Income | - | - | - | -7.923 | -13.868 | -6.465 | -4.843 |
| E.P.S | - | - | - | - | -0.440 | - | -0.140 |
| Revenue Growth (%) | - | - | - | 9,110.547 | 405.42 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -8.27 | -8.60 | -6.46 | ||||
| Cash Flow - Inv. | -13.51 | -0.92 | 1.71 | ||||
| Cash Flow - Fin. | 21.24 | 2.46 | 1.03 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1998 | Financial Ratios | ||||
| Total Assets | 27.35 | Current Assets | 22.18 | Current Ratio | 1.72 |
| Total Liab. | 15.61 | Current Liab. | 12.89 | Debt Ratio | 57.08% |
| Total Equity | 11.74 | Working Cap. | 9.28 | Debt to Equity Ratio | 1.33 |
| Cash | 5.79 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes, working capital and capital expenditures. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Gray Cary Ware & Freidenrich |
| Bank's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | Ernst & Young |
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