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| L90, Inc. |
| 2020 Santa Monica Boulevard, suite 400, Santa Monica, CA 90404 * (310) 315-1199 |
| Business Description | The company is a leading provider of comprehensive online advertising and direct marketing solutions for advertisers and Web publishers. |
| Offering Information Company has | |||
| Trading As | LNTY (NASNTL) | Industry | Internet (SIC 7311) |
| Type of Stock Offered | Common Shares | Filing Date | 9/23/99 |
| Domestic Shares Offered | 6,500,000 | Offer Date | 1/27/00 |
| Foreign Shares Offered | 0 | Filing Range | $12.00 - $14.00 |
| Company Shares | 6,500,000 | Offer Price | $15.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.050 |
| Gross Proceeds | $97,500,000 | Selling | $0.630 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| SG Cowen | Lead Manager | (212) 495-6000 |
| Banc of America Securities LLC | Co-manager | (415) 627-2100 |
| Wit Capital Corporation | Co-manager | (212) 253-4400 |
| 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 | 12/31/97 | 12/31/98 | 6/30/98 | 6/30/99 | |||
| Revenues | - | - | - | 4.210 | 8.024 | 3.376 | 5.796 |
| Income from Oper. | - | - | - | 0.307 | -0.306 | 0.038 | 1.640 |
| Net Income | - | - | - | 0.310 | -0.313 | 0.041 | -1.942 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | - | 90.594 | 71.68 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | 7.29 | - | 28.30 | 1.13 |
| Net Profit Margin (%) | - | - | - | 7.36 | - | - | 1.21 |
| Cash Flow - Oper. | 0.00 | 0.25 | -2.00 | ||||
| Cash Flow - Inv. | -0.32 | -0.01 | -0.24 | ||||
| Cash Flow - Fin. | 2.20 | 0.20 | 1.10 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 6/30/99 | Financial Ratios | ||||
| Total Assets | 3.93 | Current Assets | 3.44 | Current Ratio | 0.99 |
| Total Liab. | 3.74 | Current Liab. | 3.47 | Debt Ratio | 95.15% |
| Total Equity | 0.19 | Working Cap. | -0.03 | Debt to Equity Ratio | 19.60 |
| Cash | 0.97 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes, including working capital, information technology investments, sales and marketing efforts and potential acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Paul, Hastings, Janofsky & Walker |
| Bank's Law Firm | Brobeck, Phleger & Harrison |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | Arthur Andersen |
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