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| Private Business, Inc. |
| 9010 Overlook Boulevard, Brentwood, TN 37027 * (615) 221-8400 |
| Business Description | The company is a leading provider of electronic commerce enable solutions that help community banks provide accounts receivable financing to their small business customers. |
| Offering Information Company has | |||
| Trading As | PBIZ (NASNTL) | Industry | High-Tech (SIC 7389) |
| Type of Stock Offered | Common Shares | Filing Date | 03/25/1999 |
| Domestic Shares Offered | 4,350,000 | Offer Date | 05/26/1999 |
| Foreign Shares Offered | 0 | Filing Price | $8.00 |
| Company Shares | 4,350,000 | Offer Price | $8.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.560 |
| Gross Proceeds | $34,800,000 | Selling | $0.320 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 26,376,900 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| BT Alex Brown | Lead Manager | (410) 727-1700 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| 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 | 12.726 | 23.732 | 33.988 | 43.660 | 50.805 | - | - |
| Income from Oper. | 1.884 | 1.093 | 9.187 | 14.304 | 1.516 | - | - |
| Net Income | 1.769 | 0.964 | 8.605 | 13.274 | 0.539 | - | - |
| E.P.S | 0.180 | 0.100 | 0.860 | 1.320 | -0.210 | - | - |
| Revenue Growth (%) | 86.48 | 43.22 | 28.46 | 16.365 | - | ||
| Net Income Growth (%) | -45.51 | 792.63 | 54.26 | -95.94 | - | ||
| Oper. Profit Margin (%) | 14.80 | 4.61 | 27.03 | 32.76 | 2.98 | - | - |
| Net Profit Margin (%) | 13.90 | 4.06 | 25.32 | 30.40 | 1.06 | - | - |
| Cash Flow - Oper. | -1.26 | - | - | ||||
| Cash Flow - Inv. | -6.66 | - | - | ||||
| Cash Flow - Fin. | 3.35 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1998 | Financial Ratios | ||||
| Total Assets | 31.60 | Current Assets | 7.97 | Current Ratio | 0.50 |
| Total Liab. | 111.18 | Current Liab. | 15.81 | Debt Ratio | 351.88% |
| Total Equity | -79.58 | Working Cap. | -7.83 | Debt to Equity Ratio | - |
| Cash | 0.29 | Return on Assets | 1.71% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for reduction of indebtedness and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Harwell Howard Hyne Gabbert & Manner |
| Bank's Law Firm | Brobeck, Phleger & Harrison |
| Registrar/Transfer Agent | SunTrust Bank of Atlanta |
| Auditor | Arthur Andersen |
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