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| VarsityBooks.com, Inc. |
| 1050 Thomas Jefferson Street, N.W., Suite 525, Washington, DC 20007 * (202) 667-3400 |
| Business Description | The company is a leading online retailer of new college textbooks and have established a platform for marketing products and services to the nation's 15 million college students. |
| Offering Information Company has | |||
| Trading As | VSTY (NASNTL) | Industry | Internet (SIC 5942) |
| Type of Stock Offered | Common Shares | Filing Date | 10/14/99 |
| Domestic Shares Offered | 4,075,000 | Offer Date | 2/14/00 |
| Foreign Shares Offered | 0 | Filing Range | $10.00 - $12.00 |
| Company Shares | 4,075,000 | Offer Price | $10.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.700 |
| Gross Proceeds | $40,750,000 | Selling | $0.420 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 15,500,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Robertson, Stephens & Company | Lead Manager | (415) 989-8500 |
| DLJDirect, Inc. | Co-manager | (800) 825-5723 |
| Friedman, Billings, Ramsey & Co., Inc. | Co-manager | (703) 312-9571 |
| Thomas Weisel Partners LLC | Co-manager | (415) 364-2500 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 8 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/98 | 8/31/98 | 8/31/99 | ||||
| Revenues | - | - | - | - | 0.132 | 0.042 | 5.081 |
| Income from Oper. | - | - | - | - | -2.372 | -0.616 | -13.892 |
| Net Income | - | - | - | - | -2.368 | -0.615 | -13.808 |
| E.P.S | - | - | - | - | -0.670 | -0.190 | -3.450 |
| Revenue Growth (%) | - | - | - | - | 11,997.62 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -1.20 | -0.18 | -9.06 | ||||
| Cash Flow - Inv. | -0.11 | -0.71 | -1.04 | ||||
| Cash Flow - Fin. | 2.78 | 1.20 | 29.45 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 8/31/99 | Financial Ratios | ||||
| Total Assets | 23.75 | Current Assets | 22.72 | Current Ratio | 4.13 |
| Total Liab. | 5.50 | Current Liab. | 5.50 | Debt Ratio | 23.14% |
| Total Equity | 18.25 | Working Cap. | 17.22 | Debt to Equity Ratio | 0.30 |
| Cash | 20.83 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for working capital and general corporate purposes, including increasing our marketing and sales efforts, enhancing our information technology, increasing our booklist operations staff, introducing new products and services, and acquiring complementary technology, businesses or intellectual property rights. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Shaw, Pittman, Potts & Trowbridge |
| Bank's Law Firm | Hale and Dorr |
| Auditor | Pricewaterhouse Coopers LLC |
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