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| Cobalt Networks, Inc. |
| 555 Ellis Street, Mountain View, CA 94043 * (650) 623-2500 |
| Business Description | The company is a leading provider of server appliances. Server appliances are a new category of network infrastructure devices that are specifically designed and optimized to deliver one or a few network-based applications well. |
| Offering Information Company has | |||
| Trading As | COBT (NASNTL) | Industry | High-Tech (SIC 3679) |
| Type of Stock Offered | Common Shares | Filing Date | 9/8/99 |
| Domestic Shares Offered | 5,000,000 | Offer Date | 11/4/99 |
| Foreign Shares Offered | 0 | Filing Range | $14.00 - $16.00 |
| Company Shares | 5,000,000 | Offer Price | $22.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.540 |
| Gross Proceeds | $110,000,000 | Selling | $0.920 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| SoundView Financial Group, Inc. | Co-manager | (203) 462-7242 |
| 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 | 12/31/96 | 12/31/97 | 12/31/98 | 6/30/98 | 6/30/99 | ||
| Revenues | - | - | 0.000 | 0.000 | 3.537 | 0.449 | 7.663 |
| Income from Oper. | - | - | -0.082 | -1.757 | -10.545 | -3.749 | -8.244 |
| Net Income | - | - | -0.082 | -1.769 | -10.478 | -3.752 | -8.244 |
| E.P.S | - | - | - | -4.100 | -5.470 | -2.090 | -2.830 |
| Revenue Growth (%) | - | - | - | - | 1,606.68 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -7.49 | -2.92 | -7.46 | ||||
| Cash Flow - Inv. | 9.26 | 2.03 | 33.22 | ||||
| Cash Flow - Fin. | - | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 7/2/99 | Financial Ratios | ||||
| Total Assets | 34.90 | Current Assets | 33.58 | Current Ratio | 3.71 |
| Total Liab. | 54.75 | Current Liab. | 9.04 | Debt Ratio | 156.87% |
| Total Equity | -19.85 | Working Cap. | 24.54 | Debt to Equity Ratio | - |
| Cash | 27.43 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes, including working capital, funding operating losses, capital expenditures and potential acquisitions of complementary businesses, products or technologies. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Bank's Law Firm | Shearman & Sterling |
| Registrar/Transfer Agent | BankBoston |
| Auditor | Pricewaterhouse Coopers LLC |
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