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| Liberate Technologies |
| 1000 Bridge Parkway, Redwood Shores, CA 94065 * (650) 631-4600 |
| Business Description | The company is a leading provider of standards-based software that serves as a platform for the delivery of Internet-enhanced content and applications to a broad range of information appliances, such as television set-up boxes, game consoles, smart phones and personnel digital assistants. |
| Offering Information Company has | |||
| Trading As | LBRT (NASNTL) | Industry | High-Tech (SIC 7372) |
| Type of Stock Offered | Common Shares | Filing Date | 05/19/1999 |
| Domestic Shares Offered | 6,250,000 | Offer Date | 07/27/1999 |
| Foreign Shares Offered | 0 | Filing Range | $14.00 - $16.00 |
| Company Shares | 6,250,000 | Offer Price | $16.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.120 |
| Gross Proceeds | $100,000,000 | Selling | $0.670 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Charles Schwab & Co. Inc. | Co-manager | (415) 627-7000 |
| Hambrecht & Quist Incorporated | Co-manager | (415) 439-3626 |
| 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 | 05/31/1996 | 05/31/1997 | 05/31/1998 | 02/28/1998 | 02/28/1999 | ||
| Revenues | - | - | 0.000 | 0.275 | 10.272 | 6.719 | 12.190 |
| Income from Oper. | - | - | -5.479 | -30.274 | -96.416 | -88.636 | -22.943 |
| Net Income | - | - | -3.279 | -18.989 | -94.391 | -86.826 | -21.917 |
| E.P.S | - | - | - | - | -4.070 | - | -0.790 |
| Revenue Growth (%) | - | - | - | 3,635.273 | 81.43 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -2.19 | -7.65 | -11.09 | ||||
| Cash Flow - Inv. | 1.22 | 1.44 | -0.78 | ||||
| Cash Flow - Fin. | 12.84 | 12.43 | 5.25 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 02/28/1999 | Financial Ratios | ||||
| Total Assets | 19.61 | Current Assets | 8.22 | Current Ratio | 0.19 |
| Total Liab. | 47.02 | Current Liab. | 42.76 | Debt Ratio | 239.78% |
| Total Equity | -27.41 | Working Cap. | -34.53 | Debt to Equity Ratio | - |
| Cash | 5.52 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes including product development, expansion of sales, marketing and services capabilities and other working capital requirements. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Villeneuve Franklin & Hachigian, LLP |
| Bank's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Auditor | Arthur Andersen |
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