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| Net2000 Communications, Inc. |
| 2180 Fox Mill Road, Herndon, VA 20171 * (703) 654-2000 |
| Business Description | The company is a rapidly-growing, innovative provider of state-of-the-art broadband telecommunications services. |
| Offering Information Company has | |||
| Trading As | NTKK (NASNTL) | Industry | Telecommunications (SIC 4813) |
| Type of Stock Offered | Common Shares | Filing Date | 12/2/99 |
| Domestic Shares Offered | 10,000,000 | Offer Date | 3/6/00 |
| Foreign Shares Offered | 0 | Filing Range | $18.00 - $20.00 |
| Company Shares | 10,000,000 | Offer Price | $20.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.400 |
| Gross Proceeds | $200,000,000 | Selling | $0.840 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 34,860,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| J.P. Morgan & Co. | Co-manager | (212) 648-0517 |
| Legg Mason Wood Walker, Inc. | Co-manager | (410) 539-4038 |
| 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 | 0.803 | 1.238 | 1.939 | 3.544 | 9.419 | 5.918 | 18.670 |
| Income from Oper. | 0.415 | 0.334 | 0.085 | -1.318 | -14.294 | -8.306 | -25.472 |
| Net Income | 0.411 | 0.319 | 0.068 | -0.501 | -13.767 | -8.062 | -22.033 |
| E.P.S | 0.050 | 0.040 | 0.010 | -0.060 | -2.810 | -1.690 | -4.670 |
| Revenue Growth (%) | 54.17 | 56.62 | 82.77 | 165.773 | 215.48 | ||
| Net Income Growth (%) | -22.38 | -78.68 | - | - | - | ||
| Oper. Profit Margin (%) | 51.68 | 26.98 | 4.38 | - | - | - | - |
| Net Profit Margin (%) | 51.18 | 25.77 | 3.51 | - | - | - | - |
| Cash Flow - Oper. | -11.72 | -6.70 | -15.45 | ||||
| Cash Flow - Inv. | -2.98 | -1.51 | -26.85 | ||||
| Cash Flow - Fin. | 45.79 | 16.45 | 22.18 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 74.10 | Current Assets | 21.22 | Current Ratio | 1.21 |
| Total Liab. | 127.40 | Current Liab. | 17.47 | Debt Ratio | 171.92% |
| Total Equity | -53.30 | Working Cap. | 3.76 | Debt to Equity Ratio | - |
| Cash | 13.32 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to expand our sales force and sales office locations, fund the expansion and development of our network and information technology systems, repay debt and provide for working capital and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Piper & Marbury |
| Bank's Law Firm | Latham & Watkins |
| Auditor | Ernst & Young |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Carlyle Venture Partners Group | 15.30 | |
| Northern Telecom, Inc. | 14.70 | |
| Blue Water Strategic Fund I, L.L.C. | 11.30 | |
| Societe Generale Capital Corporation | 8.30 | |
| Mid-Atlantic Venture Fund III, L.P. | 7.50 | |
| PNC Capital Corporation | 6.00 | |
| Note: represents ownership of 5% or more prior to the offering. | ||