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| Metalink Ltd. |
| 24 Habarzel Street, Tel Aviv, Israel 69710 |
| Business Description | The company designs digital subscriber line chip sets used by telecommunications equipment manufacturers. The chip sets are used to provide high-speed voice and Internet connections over traditional copper lines. |
| Offering Information Company has | |||
| Trading As | MTLK (NASSCM) | Industry | High-Tech (SIC 3674) |
| Type of Stock Offered | Ordinary Shares | Filing Date | 11/12/99 |
| Domestic Shares Offered | 4,000,000 | Offer Date | 12/1/99 |
| Foreign Shares Offered | 0 | Filing Range | $8.00 - $10.00 |
| Company Shares | 4,000,000 | Offer Price | $12.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.840 |
| Gross Proceeds | $48,000,000 | Selling | $0.480 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 16,011,360 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Banc of America Securities LLC | Lead Manager | (415) 627-2100 |
| CIBC World Markets | Co-manager | (212) 667-7400 |
| U.S. Bancorp Piper Jaffray | Co-manager | (612) 342-6220 |
| 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 | 12/31/94 | 12/31/95 | 12/31/96 | 12/31/97 | 12/31/98 | 9/30/98 | 9/30/99 |
| Revenues | 0.091 | 1.000 | 5.126 | 5.904 | 9.159 | 6.113 | 8.307 |
| Income from Oper. | -1.085 | -0.992 | -0.216 | -1.891 | -1.052 | -1.122 | -1.565 |
| Net Income | -0.971 | -1.127 | -0.368 | -1.862 | -1.115 | -1.150 | -1.568 |
| E.P.S | -0.430 | -0.230 | -0.040 | -0.160 | -0.090 | -0.100 | -0.130 |
| Revenue Growth (%) | 998.90 | 412.60 | 15.18 | 55.132 | 35.89 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -0.78 | -0.92 | -1.13 | ||||
| Cash Flow - Inv. | -0.48 | -0.44 | -0.39 | ||||
| Cash Flow - Fin. | 0.50 | - | 0.70 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 5.75 | Current Assets | 4.10 | Current Ratio | 0.99 |
| Total Liab. | 4.72 | Current Liab. | 4.13 | Debt Ratio | 82.14% |
| Total Equity | 1.03 | Working Cap. | -0.03 | Debt to Equity Ratio | 4.60 |
| Cash | 0.19 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to finance continued growth, mainly through the expansion of marketing and sales, the creation of a design center in the U.S., to repay debt, for increased research and development, potential acquisitions and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Weil, Gotshal & Manges |
| Bank's Law Firm | Brobeck, Phleger & Harrison |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | Deloitte & Touche |
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