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| IXnet, Inc. |
| Wall Street Plaza, 88 Pine Street, New York, NY 10005 * (212) 412-6400 |
| Business Description | The company is a leading provider of communication services to the worldwide financial services community. We have built and operate the Ixnet network, a global extranet connecting financial services firms and their business partners as well as multiple offices within the same firm on a seamless network. |
| Offering Information Company has | |||
| Trading As | EXNT (NASNTL) | Industry | Telecommunications (SIC 4813) |
| Type of Stock Offered | Common Shares | Filing Date | 05/21/1999 |
| Domestic Shares Offered | 6,500,000 | Offer Date | 08/11/1999 |
| Foreign Shares Offered | 0 | Filing Range | $18.00 - $20.00 |
| Company Shares | 6,500,000 | Offer Price | $15.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.013 |
| Gross Proceeds | $97,500,000 | Selling | $0.608 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 43,100,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 371-0641 |
| DLJDirect, Inc. | Co-manager | (800) 825-5723 |
| First Union Capital Markets Corp. | Co-manager | (804) 649-2311 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 6 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1996 | 12/31/1997 | 12/31/1998 | 03/31/1998 | 03/31/1999 | ||
| Revenues | - | - | 3.459 | 17.838 | 35.853 | 15.318 | 32.611 |
| Income from Oper. | - | - | -5.870 | -13.056 | -23.665 | -8.563 | -15.524 |
| Net Income | - | - | -6.179 | -15.208 | -27.639 | -10.081 | -20.117 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | 415.70 | 100.992 | 112.89 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -15.09 | -6.17 | -11.61 | ||||
| Cash Flow - Inv. | -13.77 | -5.68 | -42.40 | ||||
| Cash Flow - Fin. | 29.83 | 11.93 | 57.44 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 03/31/1999 | Financial Ratios | ||||
| Total Assets | 125.44 | Current Assets | 21.84 | Current Ratio | 0.59 |
| Total Liab. | 83.19 | Current Liab. | 36.73 | Debt Ratio | 66.32% |
| Total Equity | 42.26 | Working Cap. | -14.89 | Debt to Equity Ratio | 1.97 |
| Cash | 4.06 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to finance the continued deployment and expansion of the Extranet, for future acquisitions, strategic alliances, or investments in property or assets. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Thacher Proffitt & Wood |
| Bank's Law Firm | Testa, Hurwitz & Thibeault |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | Pricewaterhouse Coopers LLC |
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