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| FairMarket, Inc. |
| 400 Unicorn Park Drive, Woburn, MA 01801 * (781) 935-7090 |
| Business Description | The company is a leading provider of outsourced dynamic pricing solutions to business merchants and web communities. Our primary offering is a private-label online auction solution that enables our customers to rapidly deploy a flexible, custom-branded Internet auction site without making a significant investment in technology, personnel or other infrastructure. |
| Offering Information Company has | |||
| Trading As | FAIM (NASNTL) | Industry | Internet (SIC 7389) |
| Type of Stock Offered | Common Shares | Filing Date | 12/14/99 |
| Domestic Shares Offered | 5,000,000 | Offer Date | 3/13/00 |
| Foreign Shares Offered | 0 | Filing Range | $13.00 - $15.00 |
| Company Shares | 5,000,000 | Offer Price | $17.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.190 |
| Gross Proceeds | $85,000,000 | Selling | $0.710 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Deutsch Banc Alex. Brown | Lead Manager | (410) 727-1700 |
| Prudential Volpe Technology | Co-manager | (415) 274-4463 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| 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 | - | - | - | 0.003 | 0.004 | 0.002 | 0.891 |
| Income from Oper. | - | - | - | -0.604 | -1.419 | -1.013 | -6.035 |
| Net Income | - | - | - | -0.601 | -1.388 | -0.986 | -5.756 |
| E.P.S | - | - | - | -0.150 | -0.300 | -0.220 | -1.160 |
| Revenue Growth (%) | - | - | - | 33.333 | 44,450.00 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -1.23 | -0.95 | -3.89 | ||||
| Cash Flow - Inv. | -0.20 | -0.09 | -2.34 | ||||
| Cash Flow - Fin. | 0.85 | 0.85 | 24.55 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 22.05 | Current Assets | 19.71 | Current Ratio | - |
| Total Liab. | 19.05 | Current Liab. | - | Debt Ratio | 86.43% |
| Total Equity | 2.99 | Working Cap. | 18.15 | Debt to Equity Ratio | 6.37 |
| Cash | 18.85 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes, including product and market development, capital expenditures and potential acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Goodwin Procter & Hoar |
| Bank's Law Firm | Ropes & Gray |
| Registrar/Transfer Agent | EquiServe |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Microsoft Corporation | 21.00 | |
| Sierra Ventures VII, L.P. | 18.00 | |
| Excite, Inc. | 15.00 | |
| TicketMaster Online-City Search, Inc. | 8.00 | |
| Note: represents ownership of 5% or more prior to the offering. | ||