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| Network Plus Corp. |
| 234 Copeland Street, Quincy, MA 02169 * (617) 786-4000 |
| Business Description | The company is a network-based communications provider offering broadband data and telecommunications services. Our bundled product offerings include local and long distance services, as well as enhanced, high-speed data and Internet services, primarily utilizing digital subscriber line, or DSL, technology. |
| Offering Information Company has | |||
| Trading As | NPLS (NASNTL) | Industry | Telecommunications (SIC 4813) |
| Type of Stock Offered | Common Shares | Filing Date | 05/27/1999 |
| Domestic Shares Offered | 8,000,000 | Offer Date | 06/29/1999 |
| Foreign Shares Offered | 0 | Filing Range | $14.00 - $16.00 |
| Company Shares | 8,000,000 | Offer Price | $16.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.120 |
| Gross Proceeds | $128,000,000 | Selling | $0.670 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 53,333,300 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Wit Capital Corporation | Co-manager | (212) 253-4400 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 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 | 03/31/1998 | 03/31/1999 |
| Revenues | 30.754 | 49.024 | 75.135 | 98.209 | 105.545 | 25.202 | 33.581 |
| Income from Oper. | 2.882 | -4.014 | -1.836 | -6.595 | -4.361 | 0.354 | -4.665 |
| Net Income | 2.852 | 3.695 | 1.415 | -3.191 | -6.388 | 0.084 | -4.771 |
| E.P.S | 0.290 | 0.370 | 0.140 | -0.320 | -0.640 | 0.010 | -0.480 |
| Revenue Growth (%) | 59.41 | 53.26 | 30.71 | 7.470 | 33.25 | ||
| Net Income Growth (%) | 29.56 | -61.71 | - | - | - | ||
| Oper. Profit Margin (%) | 9.37 | - | - | - | - | - | 1.40 |
| Net Profit Margin (%) | 9.27 | 7.54 | 1.88 | - | - | - | 0.33 |
| Cash Flow - Oper. | -10.77 | 2.48 | -3.37 | ||||
| Cash Flow - Inv. | -1.40 | -0.23 | -9.10 | ||||
| Cash Flow - Fin. | 22.80 | -3.48 | 3.86 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 03/31/1999 | Financial Ratios | ||||
| Total Assets | 76.21 | Current Assets | 28.63 | Current Ratio | 1.01 |
| Total Liab. | 39.51 | Current Liab. | 28.46 | Debt Ratio | 51.84% |
| Total Equity | 36.70 | Working Cap. | 0.17 | Debt to Equity Ratio | 1.08 |
| Cash | 3.58 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to redeem 13.5% Series A Cumulative Preferred Stock due 2009, development and expansion of network, operational infrastructure and salesforce, working capital and for general corporate purposes including possible acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Hale and Dorr |
| Bank's Law Firm | Cravath, Swaine & Moore |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | Pricewaterhouse Coopers LLC |
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