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| WatchGuard Technologies, Inc. |
| 316 Occidential Avenue South, Suite 200, Seattle, WA 98104 * (206) 521-8340 |
| Business Description | The company is a leading provider of dynamic, comprehensive Internet security solutions designed to protect small-to-medium enterprises, those businesses, governmental entities and educational institutions with fewer than 1,000 employees that use the Internet for electronic commerce and communications. |
| Offering Information Company has | |||
| Trading As | WGRD (NASNTL) | Industry | Internet (SIC 7372) |
| Type of Stock Offered | Common Shares | Filing Date | 04/20/1999 |
| Domestic Shares Offered | 3,500,000 | Offer Date | 07/29/1999 |
| Foreign Shares Offered | 0 | Filing Range | $11.00 - $13.00 |
| Company Shares | 3,500,000 | Offer Price | $13.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.910 |
| Gross Proceeds | $45,500,000 | Selling | $0.550 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 18,447,500 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Dain Rauscher Wessels | Lead Manager | (612) 371-2818 |
| SoundView Financial Group, Inc. | Co-manager | (203) 462-7242 |
| Warburg Dillon Read LLC | Co-manager | (203) 719-4290 |
| 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 | - | - | 0.331 | 5.098 | 11.379 | - | - |
| Income from Oper. | - | - | -0.462 | -4.396 | -9.000 | - | - |
| Net Income | - | - | -0.468 | -4.334 | -9.119 | - | - |
| E.P.S | - | - | - | - | -0.680 | - | - |
| Revenue Growth (%) | - | - | 1,440.18 | 123.205 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -7.61 | - | - | ||||
| Cash Flow - Inv. | -1.00 | - | - | ||||
| Cash Flow - Fin. | 9.72 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1998 | Financial Ratios | ||||
| Total Assets | 9.03 | Current Assets | 7.81 | Current Ratio | 1.02 |
| Total Liab. | 8.15 | Current Liab. | 7.69 | Debt Ratio | 90.25% |
| Total Equity | 0.88 | Working Cap. | 0.12 | Debt to Equity Ratio | 9.25 |
| Cash | 1.71 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for repayment of debt, working capital and other general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Perkins Coie |
| Bank's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | Ernst & Young |
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