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| Rhythms Netconnections, Inc. |
| 6933 South Revere Parkway, Englewood, CO 80112 * (303) 476-4200 |
| Business Description | The company is a leading service provider of high speed local access networking solutions using digital subscriber line (DSL) technology to businesses. |
| Offering Information Company has | |||
| Trading As | RTHM (NASNTL) | Industry | Telecommunications (SIC 4813) |
| Type of Stock Offered | Common Shares | Filing Date | 02/16/1999 |
| Domestic Shares Offered | 9,375,000 | Offer Date | 04/06/1999 |
| Foreign Shares Offered | 0 | Filing Range | $18.00 - $20.00 |
| Company Shares | 9,375,000 | Offer Price | $21.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.391 |
| Gross Proceeds | $196,875,000 | Selling | $0.830 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 70,564,582 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Hambrecht & Quist Incorporated | Co-manager | (415) 439-3626 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| Thomas Weisel Partners LLC | Co-manager | (415) 364-2500 |
| 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 | 12/31/1997 | 09/30/1997 | 09/30/1998 | ||||
| Revenues | - | - | - | - | - | - | 0.248 |
| Income from Oper. | - | - | - | - | -2.535 | -0.938 | -16.371 |
| Net Income | - | - | - | - | -2.422 | -0.883 | -21.030 |
| E.P.S | - | - | - | - | -1.340 | -0.490 | 9.490 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -1.56 | -0.68 | -9.16 | ||||
| Cash Flow - Inv. | -1.35 | -0.26 | -150.13 | ||||
| Cash Flow - Fin. | 13.07 | 6.14 | 169.36 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 09/30/1998 | Financial Ratios | ||||
| Total Assets | 173.98 | Current Assets | 155.56 | Current Ratio | 24.54 |
| Total Liab. | 165.76 | Current Liab. | 6.34 | Debt Ratio | 95.27% |
| Total Equity | 8.23 | Working Cap. | 149.23 | Debt to Equity Ratio | 20.15 |
| Cash | 20.24 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to fund the continuing deployment of network services in existing markets, and planned rollouts in additional markets, expenses associated with the continued development of sales and marketing activities, funding operating losses, pay debt obligations and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Brobeck, Phleger & Harrison |
| Bank's Law Firm | Baker & McKenzie |
| Auditor | Pricewaterhouse Coopers LLC |
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