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| 360Networks, Inc. |
| 1500-1066 West Hastings Street, Vancouver, Canada V6E 3X1 * (604) 681-1994 |
| Business Description | The company is a leading independent, facilities based international provider of optic communications network products and services. |
| Offering Information Company has | ||||
| Trading As | TSIX (NASNTL) | Industry | Telecommunications (SIC 4813) | |
| Type of Stock Offered | Class A Non-Voting Shares | Filing Date | 1/28/00 | |
| Domestic Shares Offered | 46,280,000 | Offer Date | 4/19/00 | |
| Foreign Shares Offered | 0 | Filing Range | $12.00 - $14.00 | |
| Company Shares | 46,280,000 | Offer Price | $14.00 | |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.770 | |
| Gross Proceeds | $647,920,000 | Selling | $0.460 | |
| Expenses | - - | Reallowance | $0.100 | |
| Post-IPO Shares | 729,420,000 | Employees | - - | |
| Spun out from: | Ledcor Inc. | |||
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| Chase H&Q; | Co-manager | (415) 439-3626 |
| CS First Boston | Co-manager | (212) 325-2000 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| Morgan Stanley Dean Witter | Co-manager | (212) 761-5900 |
| Nesbitt Thompson Securities | Co-manager | (416) 586-3600 |
| RBC Dominion Securities | Co-manager | (212) 361-2617 |
| TD Securities | Co-manager | (212) 827-7000 |
| Warburg Dillon Read LLC | Co-manager | (203) 719-3000 |
| 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 | 12/31/98 | 9/30/99 | |||||
| Revenues | - | - | - | - | 207.038 | - | 235.138 |
| Income from Oper. | - | - | - | - | 10.866 | - | 51.741 |
| Net Income | - | - | - | - | -48.240 | - | 13.371 |
| E.P.S | - | - | - | - | -3.900 | - | 0.050 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | 5.25 | 22.00 | - |
| Net Profit Margin (%) | - | - | - | - | - | 5.69 | - |
| Cash Flow - Oper. | - | - | - | ||||
| Cash Flow - Inv. | - | - | - | ||||
| Cash Flow - Fin. | - | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 1,216.19 | Current Assets | 974.16 | Current Ratio | 6.16 |
| Total Liab. | 1,185.39 | Current Liab. | 158.04 | Debt Ratio | 97.47% |
| Total Equity | 30.81 | Working Cap. | 816.12 | Debt to Equity Ratio | 38.48 |
| Cash | 675.18 | Return on Assets | 1.10% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to further develop and light our networks, to develop new facilities to enable us to provide value added networks, for investments, acquisitions or strategic alliances that we may identify in the future and to fund operating losses, for working capital and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Farris, Vaughn, Wills & Murphy |
| Bank's Law Firm | Latham & Watkins |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Worldwide Fiber Holdings Ltd. | 79.20 | |
| Note: represents ownership of 5% or more prior to the offering. | ||