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| HarvardNET, Inc. |
| 500 Rutherford Avenue, Boston, MA 02129 * (617) 242-1700 |
| Business Description | The company provides high-speed data networking solutions and web hosting services to businesses located in the Northeast and Mid-Atlantic regions of the United States. |
|
Filing Information IPO has been | |||
| To Trade As | HVNT (NASNTL) | Industry | Telecommunications (SIC 4813) |
| Type of Stock Offered | Common Shares | Filing Date | 06/11/1999 |
| Domestic Shares Filed | 8,900,000 | Filing Range | $13.00 - $15.00 |
| Foreign Shares Filed | 0 | Offering Amount | $124,600,000 |
| Company Shares | 8,900,000 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Morgan Stanley Dean Witter | Lead Manager | (212) 761-5900 |
| 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 | 3 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 | - | - | 0.720 | 1.381 | 4.282 | 0.954 | 1.600 |
| Income from Oper. | - | - | 0.037 | -0.181 | -1.750 | -0.183 | -1.404 |
| Net Income | - | - | 0.027 | -0.139 | -1.260 | -0.136 | -1.300 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | 91.81 | 210.065 | 67.71 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | 5.14 | - | - | - | - |
| Net Profit Margin (%) | - | - | 3.75 | - | - | - | - |
| Cash Flow - Oper. | -0.09 | 0.43 | -1.42 | ||||
| Cash Flow - Inv. | -1.01 | -0.04 | -3.45 | ||||
| Cash Flow - Fin. | 5.92 | -0.01 | 8.60 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 03/31/1999 | Financial Ratios | ||||
| Total Assets | 16.05 | Current Assets | 10.13 | Current Ratio | 10.28 |
| Total Liab. | 19.29 | Current Liab. | 0.99 | Debt Ratio | 120.22% |
| Total Equity | -3.24 | Working Cap. | 9.14 | Debt to Equity Ratio | - |
| Cash | 8.98 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to repay amounts owed under our credit facility, for capital expenditures relating to our planned geographic expansion, potential acquisitions, working capital and other general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Hale and Dorr |
| Bank's Law Firm | Shearman & Sterling |
| Auditor | Pricewaterhouse Coopers LLC |
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