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Therma-Wave, Inc.
1250 Reliance Way, Fremont, CA 94539 * (510) 668-2200
Business Description The company is a worldwide leader in the development, manufacture, marketing and service of process control metrology systems used in the manufacture of semiconductors.
Offering
Information

Company has
gone public

Trading As  TWAV (NASNTL) Industry  Manufacturing (SIC 3823)
Type of Stock Offered  Common Shares Filing Date  4/9/99
Domestic Shares Offered  9,000,000 Offer Date  2/3/00
Foreign Shares Offered  0 Filing Range  $15.00 - $17.00
Company Shares  9,000,000 Offer Price  $20.00
Selling Shrhldrs Shares  0 Gross Spread  $1.400
Gross Proceeds  $180,000,000 Selling  $0.840
Expenses  - - Reallowance  $0.100
Post-IPO Shares  - - Employees  - -
Primary
Underwriting
Group
Underwriter NameParticipationUnderwriter Phone
Banc of America Securities LLC Lead Manager (415) 627-2100
Lehman Brothers Incorporated Co-manager (212) 526-8100
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 9/30/94 9/30/95 9/30/96 9/30/97 9/30/98 12/31/97 12/31/98
Revenues   20.770 55.675 79.293 109.493 115.459 86.155 47.603
Income from Oper.   -5.082 9.498 13.578 23.369 11.942 8.022 -5.524
Net Income   -6.419 7.487 7.281 13.101 -1.033 -0.546 -13.381
E.P.S   - - - - - - -
Revenue Growth (%)      168.05 42.42 38.09 5.449   -44.75
Net Income Growth (%)      - -2.75 79.93 -   -
Oper. Profit Margin (%)    - 17.06 17.12 21.34 10.34 - 9.31
Net Profit Margin (%)    - 13.45 9.18 11.97 - - -
Cash Flow - Oper.     8.11 3.34 -7.66
Cash Flow - Inv.     -2.90 -3.69 -0.75
Cash Flow - Fin.     -1.53 -0.56 0.63
Balance Sheet
Summary
and
Financial
Ratios
Balance sheet as of: 12/31/98 Financial Ratios
Total Assets    69.93 Current Assets    54.61 Current Ratio    2.50
Total Liab.    139.07 Current Liab.    21.81 Debt Ratio    198.87%
Total Equity    -69.14 Working Cap.    32.80 Debt to Equity Ratio    -
Cash    12.65    Return on Assets   -
Use Of
Proceeds
The proceeds from the proposed offering will be used to redeem a portion of 10.5/8% senior notes.
Legal Counsel
Registrar
Auditor
Issuer's Law Firm  Kirkland & Ellis
Bank's Law Firm  Ropes & Gray
Registrar/Transfer Agent  Boston Equiserve Limited Partnership
Auditor  Pricewaterhouse Coopers LLC
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Last updated: 5/29/00 12:57:20 AM
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