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| Palm, Inc. |
| 5400 Bayfront Plaza, Santa Clara, CA 95052 * (408) 326-5000 |
| Business Description | The company is the leading global provider of handheld computing devices. We develop design and market our Palm-branded handheld devices which currently include our Palm III, Palm V and Internet-enabled Palm VII product families. |
| Offering Information Company has | ||||
| Trading As | PALM (NASNTL) | Industry | High-Tech (SIC 3571) | |
| Type of Stock Offered | Common Shares | Filing Date | 12/13/99 | |
| Domestic Shares Offered | 23,000,000 | Offer Date | 3/1/00 | |
| Foreign Shares Offered | 0 | Filing Range | $30.00 - $32.00 | |
| Company Shares | 23,000,000 | Offer Price | $38.00 | |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.995 | |
| Gross Proceeds | $874,000,000 | Selling | $1.190 | |
| Expenses | - - | Reallowance | $0.100 | |
| Post-IPO Shares | - - | Employees | - - | |
| Spun out from: | 3Com Corporation | |||
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Morgan Stanley Dean Witter | Co-manager | (212) 761-5900 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| 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 | 6/30/95 | 5/26/96 | 5/25/97 | 5/31/98 | 5/28/99 | 8/28/98 | 8/27/99 |
| Revenues | 1.403 | 7.054 | 114.157 | 272.137 | 563.525 | 116.069 | 176.505 |
| Income from Oper. | -2.231 | -6.777 | -13.513 | 6.461 | 48.339 | 13.131 | 15.866 |
| Net Income | -2.166 | -3.062 | -7.862 | 4.171 | 29.628 | 8.070 | 9.658 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | 402.78 | 1,518.33 | 138.39 | 107.074 | 52.07 | ||
| Net Income Growth (%) | - | - | - | 610.33 | 19.68 | ||
| Oper. Profit Margin (%) | - | - | - | 2.37 | 8.58 | 8.99 | 11.31 |
| Net Profit Margin (%) | - | - | - | 1.53 | 5.26 | 5.47 | 6.95 |
| Cash Flow - Oper. | 59.11 | 1.92 | 10.07 | ||||
| Cash Flow - Inv. | -22.08 | -1.28 | -2.29 | ||||
| Cash Flow - Fin. | -36.55 | -0.64 | 28.88 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 8/27/99 | Financial Ratios | ||||
| Total Assets | 201.35 | Current Assets | 179.13 | Current Ratio | 2.03 |
| Total Liab. | 88.05 | Current Liab. | 88.05 | Debt Ratio | 43.73% |
| Total Equity | 113.30 | Working Cap. | 91.07 | Debt to Equity Ratio | 0.78 |
| Cash | 37.14 | Return on Assets | 4.80% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for the payment of a dividend to 3Com, payment of other amounts due to 3Com, capital expenditures, marketing expenses, working capital and potential investments in or acquisitions of, other businesses or technologies. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Bank's Law Firm | Sullivan & Cromwell |
| Registrar/Transfer Agent | EquiServe |
| Auditor | Deloitte & Touche |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| 3Com Corporation | 100.00 | |
| Note: represents ownership of 5% or more prior to the offering. | ||