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| Avanex Corporation |
| 40919 Encyclopedia Circle, Fremont, CA 94538 * (510) 897-4188 |
| Business Description | The company designs, manufactures and markets fiber optic-based products, known as photonic processors, which are designed to increase the performance of optical networks. |
| Offering Information Company has | |||
| Trading As | AVNX (NASNTL) | Industry | High-Tech (SIC 3674) |
| Type of Stock Offered | Common Shares | Filing Date | 12/3/99 |
| Domestic Shares Offered | 6,000,000 | Offer Date | 2/3/00 |
| Foreign Shares Offered | 0 | Filing Range | $28.00 - $30.00 |
| Company Shares | 6,000,000 | Offer Price | $36.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $2.520 |
| Gross Proceeds | $216,000,000 | Selling | $1.570 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Morgan Stanley Dean Witter | Lead Manager | (212) 761-5900 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| 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 | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 6/30/98 | 6/30/99 | 9/30/98 | 10/1/99 | |||
| Revenues | - | - | - | - | 0.510 | - | 4.417 |
| Income from Oper. | - | - | - | -1.133 | -9.250 | -1.044 | -7.399 |
| Net Income | - | - | - | -1.137 | -9.221 | -1.037 | -7.470 |
| E.P.S | - | - | - | - | -0.590 | - | -0.920 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -5.44 | -0.65 | -4.52 | ||||
| Cash Flow - Inv. | -2.83 | -0.08 | -6.79 | ||||
| Cash Flow - Fin. | 7.15 | 0.02 | 16.18 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 10/1/99 | Financial Ratios | ||||
| Total Assets | 25.07 | Current Assets | 20.29 | Current Ratio | 3.32 |
| Total Liab. | 32.87 | Current Liab. | 6.12 | Debt Ratio | 131.11% |
| Total Equity | -7.80 | Working Cap. | 14.17 | Debt to Equity Ratio | - |
| Cash | 6.63 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes including capital expenditures and working capital. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Bank's Law Firm | Fenwick & West |
| Registrar/Transfer Agent | Boston Equiserve Limited Partnership |
| Auditor | Ernst & Young |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Entities affiliated with Sequoia Capital | 18.50 | |
| Entities affiliated with Crosspoint Venture Partners | 18.50 | |
| Entities affiliated with JAFCO America Ventures, Inc. | 13.50 | |
| Entities affiliated with the Mayfield Fund | 9.70 | |
| Note: represents ownership of 5% or more prior to the offering. | ||