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| Headway Technologies, Inc. |
| 678 South Hillsview Drive, Milpitas, CA 95035 * (408) 934-5300 |
| Business Description | The company develop products designed to provide our customers with significant performance advantages and faster time-to-volume production. |
|
Filing Information IPO has been | |||
| To Trade As | HWTI (NASNTL) | Industry | High-Tech (SIC 3572) |
| Type of Stock Offered | Common Shares | Filing Date | 9/2/99 |
| Domestic Shares Filed | 4,200,000 | Filing Range | $5.00 - $7.00 |
| Foreign Shares Filed | 0 | Offering Amount | $25,200,000 |
| Company Shares | 4,200,000 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Hambrecht & Quist Incorporated | Lead Manager | (415) 439-3626 |
| Banc of America Securities LLC | Co-manager | (415) 627-2100 |
| 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 | 12/31/95 | 12/29/96 | 12/28/97 | 1/2/99 | 6/27/98 | 7/3/99 | |
| Revenues | - | 19.801 | 26.792 | 54.369 | 179.419 | 92.600 | 72.786 |
| Income from Oper. | - | -7.118 | -4.308 | -18.338 | 10.342 | 8.429 | 2.398 |
| Net Income | - | -7.018 | -4.967 | -19.404 | 6.735 | 6.123 | 0.620 |
| E.P.S | - | - | - | - | 0.330 | 0.300 | 0.030 |
| Revenue Growth (%) | - | 35.31 | 102.93 | 230.002 | -21.40 | ||
| Net Income Growth (%) | - | - | - | - | -89.87 | ||
| Oper. Profit Margin (%) | - | - | - | - | 5.76 | 3.29 | 9.10 |
| Net Profit Margin (%) | - | - | - | - | 3.75 | 0.85 | 6.61 |
| Cash Flow - Oper. | - | - | - | ||||
| Cash Flow - Inv. | - | - | - | ||||
| Cash Flow - Fin. | - | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 7/3/99 | Financial Ratios | ||||
| Total Assets | 90.33 | Current Assets | 36.11 | Current Ratio | 0.88 |
| Total Liab. | 64.34 | Current Liab. | 40.81 | Debt Ratio | 71.23% |
| Total Equity | 25.99 | Working Cap. | -4.70 | Debt to Equity Ratio | 2.48 |
| Cash | 22.08 | Return on Assets | 0.69% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to repay notes payable; capital expenditures and for general corporate purposes including working capital. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Bank's Law Firm | Morrison & Foerster |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | Ernst & Young |
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