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| Wit Capital Group, Inc. |
| 826 Broadway, Sixth Floor, New York, NY 10003 * (212) 253-4400 |
| Business Description | The company is an Internet banking and brokerage firm that uses electronic mail and the Web to offer and sell shares in public offering to individuals. |
| Offering Information Company has | |||
| Trading As | WITC (NASNTL) | Industry | Internet (SIC 6211) |
| Type of Stock Offered | Common Shares | Filing Date | 03/18/1999 |
| Domestic Shares Offered | 7,600,000 | Offer Date | 06/03/1999 |
| Foreign Shares Offered | 0 | Filing Range | $7.00 - $9.00 |
| Company Shares | 7,600,000 | Offer Price | $9.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.630 |
| Gross Proceeds | $68,400,000 | Selling | $0.380 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 70,649,500 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Bear, Stearns & Co. Inc. | Lead Manager | (212) 272-4850 |
| Thomas Weisel Partners LLC | Co-manager | (415) 364-2500 |
| Wit Capital Corporation | Co-manager | (212) 253-4400 |
| 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 | 12/31/1996 | 12/31/1997 | 12/31/1998 | ||||
| Revenues | - | - | 0.041 | 0.246 | 2.038 | - | - |
| Income from Oper. | - | - | -1.758 | -2.970 | -8.760 | - | - |
| Net Income | - | - | -1.774 | -2.993 | -8.794 | - | - |
| E.P.S | - | - | -0.230 | -0.290 | -0.860 | - | - |
| Revenue Growth (%) | - | - | 500.00 | 728.455 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -6.77 | - | - | ||||
| Cash Flow - Inv. | -0.56 | - | - | ||||
| Cash Flow - Fin. | 24.33 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1998 | Financial Ratios | ||||
| Total Assets | 22.30 | Current Assets | - | Current Ratio | - |
| Total Liab. | 1.69 | Current Liab. | - | Debt Ratio | 7.57% |
| Total Equity | 20.61 | Working Cap. | - | Debt to Equity Ratio | 0.08 |
| Cash | 18.11 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes including expansion of investment banking and research staff and for sales and marketing capabilities, possible strategic acquisitions or investments, funding the launch of digital trading facility, international expansion and working capital requirements and investments in the Angel Funds that we plan to establish. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Morgan, Lewis & Bockius |
| Bank's Law Firm | Cravath, Swaine & Moore |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | Arthur Andersen |
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