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| Cypress Communications, Inc. |
| Fifteen Pedmont Center, Suite 710, Atlanta, GA 30305 * (404) 869-2500 |
| Business Description | The company is a building centric integrated communications provider serving small and medium sized businesses in major metropolitan markets throughout the United States. |
| Offering Information Company has | |||
| Trading As | CYCO (NASNTL) | Industry | Telecommunications (SIC 4813) |
| Type of Stock Offered | Common Shares | Filing Date | 12/3/99 |
| Domestic Shares Offered | 10,000,000 | Offer Date | 2/9/00 |
| Foreign Shares Offered | 0 | Filing Price | - - |
| Company Shares | 10,000,000 | Offer Price | $17.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.190 |
| Gross Proceeds | $170,000,000 | Selling | $0.710 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Bear, Stearns & Co. Inc. | Lead Manager | (212) 272-4850 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| J.C. Bradford & Co. | Co-manager | (615) 748-9347 |
| 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 | 12/31/97 | 12/31/98 | 9/30/98 | 9/30/99 | |||
| Revenues | - | - | - | 0.709 | 2.418 | 1.428 | 5.228 |
| Income from Oper. | - | - | - | -1.687 | -3.921 | -2.777 | -7.742 |
| Net Income | - | - | - | -1.514 | -3.688 | -2.710 | -7.574 |
| E.P.S | - | - | - | -2.580 | -6.290 | -4.630 | -12.920 |
| Revenue Growth (%) | - | - | - | 240.825 | 265.96 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -2.91 | -1.97 | -5.78 | ||||
| Cash Flow - Inv. | -4.99 | -1.69 | -5.17 | ||||
| Cash Flow - Fin. | 15.29 | 15.54 | -0.11 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 15.20 | Current Assets | 2.00 | Current Ratio | 0.48 |
| Total Liab. | 25.89 | Current Liab. | 4.17 | Debt Ratio | 170.34% |
| Total Equity | -10.69 | Working Cap. | -2.18 | Debt to Equity Ratio | - |
| Cash | 0.00 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for the construction of additional in-building networks and the purchase of communications equipment and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Goodwin Procter & Hoar |
| Bank's Law Firm | Latham & Watkins |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Centennial Holdings V, L.P. | 23.30 | |
| Atla Communications, Inc. | 17.30 | |
| Beacon Capital Partners, Inc. | 12.30 | |
| Nassau Capital L.L.C. | 8.40 | |
| Gramercy Communications Partners, Inc. | 8.40 | |
| Note: represents ownership of 5% or more prior to the offering. | ||