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| Andover.Net, Inc. |
| 50 Nagog Park, Acton, MA 01720 * (978) 635-5300 |
| Business Description | The company is the leading Linux/Open Source destination on the Internet. Our network of web sites provides an independent, unbiased source for content, community and commerce for the Linux and, more generally, the Open Source communities. |
| Offering Information Company has | |||
| Trading As | ANDN (NASNTL) | Industry | High-Tech (SIC 7379) |
| Type of Stock Offered | Common Shares | Filing Date | 9/16/99 |
| Domestic Shares Offered | 4,000,000 | Offer Date | 12/7/99 |
| Foreign Shares Offered | 0 | Filing Range | $15.00 - $18.00 |
| Company Shares | 4,000,000 | Offer Price | $18.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.170 |
| Gross Proceeds | $72,000,000 | Selling | $0.450 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 15,000,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| WR Hambrecht & Co | Lead Manager | (415) 551-8600 |
| Advest, Inc. | Co-manager | (860) 509-2177 |
| DLJDirect, Inc. | Co-manager | (800) 825-5723 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 9/30/96 | 9/30/97 | 9/30/98 | 6/30/98 | 6/30/99 | ||
| Revenues | - | - | 0.316 | 0.741 | 1.290 | 0.986 | 1.109 |
| Income from Oper. | - | - | -0.573 | -0.590 | -0.445 | -0.341 | -2.309 |
| Net Income | - | - | -0.654 | -0.664 | -0.474 | -0.374 | -2.250 |
| E.P.S | - | - | -0.380 | -0.290 | -0.120 | -0.090 | -0.360 |
| Revenue Growth (%) | - | - | 134.49 | 74.089 | 12.47 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -0.57 | -0.50 | -1.49 | ||||
| Cash Flow - Inv. | -0.02 | -0.01 | -1.95 | ||||
| Cash Flow - Fin. | -0.05 | 0.00 | 4.86 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 6/30/99 | Financial Ratios | ||||
| Total Assets | 15.27 | Current Assets | 2.05 | Current Ratio | 1.86 |
| Total Liab. | 6.30 | Current Liab. | 1.10 | Debt Ratio | 41.26% |
| Total Equity | 8.97 | Working Cap. | 0.94 | Debt to Equity Ratio | 0.70 |
| Cash | 1.61 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for redemption of redeemable preferred stock, potential strategic acquisitions and general corporate purposes including working capital. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Hutchins Wheeler & Dittmar |
| Bank's Law Firm | Willkie Farr & Gallagher |
| Registrar/Transfer Agent | BankBoston |
| Auditor | Arthur Andersen |
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