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| eBenX, Inc. |
| 5500 Wayzata Boulevard, Suite 1450, Minneapolis, MN 55416 * (612) 525-2700 |
| Business Description | The company provides business-to-business e-commerce and connectivity solutions to employers and health plans for the purchase, eligibility administration and premium payment of group health insurance benefits. |
| Offering Information Company has | |||
| Trading As | EBNX (NASNTL) | Industry | Internet (SIC 7389) |
| Type of Stock Offered | Common Shares | Filing Date | 9/28/99 |
| Domestic Shares Offered | 5,000,000 | Offer Date | 12/9/99 |
| Foreign Shares Offered | 0 | Filing Range | $15.00 - $17.00 |
| Company Shares | 5,000,000 | Offer Price | $20.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.400 |
| Gross Proceeds | $100,000,000 | Selling | $0.840 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 15,054,100 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Robertson, Stephens & Company | Lead Manager | (415) 989-8500 |
| Thomas Weisel Partners LLC | Co-manager | (415) 364-2500 |
| Warburg Dillon Read LLC | Co-manager | (203) 719-4290 |
| 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 | 12/31/94 | 12/31/95 | 12/31/96 | 12/31/97 | 12/31/98 | 6/30/98 | 6/30/99 |
| Revenues | 0.904 | 2.497 | 4.360 | 7.093 | 10.122 | 3.929 | 7.108 |
| Income from Oper. | -0.177 | 0.031 | -0.779 | -0.713 | -1.186 | -0.998 | -1.262 |
| Net Income | -0.166 | 0.062 | -0.581 | -0.500 | -1.042 | -0.915 | -1.112 |
| E.P.S | -0.150 | 0.060 | -0.530 | -0.450 | -0.900 | -0.800 | -0.950 |
| Revenue Growth (%) | 176.22 | 74.61 | 62.68 | 42.704 | 80.91 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | 1.24 | - | - | - | - | - |
| Net Profit Margin (%) | - | 2.48 | - | - | - | - | - |
| Cash Flow - Oper. | -1.33 | -0.50 | -1.51 | ||||
| Cash Flow - Inv. | 1.24 | -0.35 | -0.64 | ||||
| Cash Flow - Fin. | 0.76 | 0.00 | 9.73 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 6/30/99 | Financial Ratios | ||||
| Total Assets | 14.30 | Current Assets | 12.35 | Current Ratio | 8.07 |
| Total Liab. | 1.53 | Current Liab. | 1.53 | Debt Ratio | 10.70% |
| Total Equity | 12.77 | Working Cap. | 10.82 | Debt to Equity Ratio | 0.12 |
| Cash | 9.27 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes, including working capital, sales and marketing expenditures, development of new products and services, investment in technology infrastructure and possible acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Dorsey & Whitney |
| Bank's Law Firm | Winston & Strawn |
| Registrar/Transfer Agent | Norwest Bank of Minnesota |
| Auditor | Ernst & Young |
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