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| Mainspring Communications, Inc. |
| One Main Street, Cambridge, MA 02142 * (617) 588-2300 |
| Business Description | The company is a leading strategy consulting firm that focuses exclusively on developing actionable Internet strategies primarily for Fortune 1000 companies. |
| Offering Information Company has | |||
| Trading As | MSPR (NASNTL) | Industry | Service (SIC 7389) |
| Type of Stock Offered | Common Shares | Filing Date | 2/11/00 |
| Domestic Shares Offered | 4,000,000 | Offer Date | 7/26/00 |
| Foreign Shares Offered | 0 | Filing Range | $10.00 - $12.00 |
| Company Shares | 4,000,000 | Offer Price | $12.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.840 |
| Gross Proceeds | $48,000,000 | Selling | $0.500 |
| Expenses | - - | Reallowance | - - |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Morgan Stanley Dean Witter | Lead Manager | (212) 761-5900 |
| Chase H&Q; | Co-manager | (415) 439-3626 |
| FAC/Equities | Co-manager | (518) 447-8641 |
| Thomas Weisel Partners LLC | Co-manager | (415) 364-2500 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/97 | 12/31/98 | 12/31/99 | ||||
| Revenues | - | - | 84.049 | 0.633 | 7.031 | - | - |
| Income from Oper. | - | - | -5.783 | -5.401 | -13.049 | - | - |
| Net Income | - | - | -5.427 | -5.163 | -19.635 | - | - |
| E.P.S | - | - | -4.810 | -3.400 | -12.440 | - | - |
| Revenue Growth (%) | - | - | -99.25 | 1,011.073 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -5.25 | - | - | ||||
| Cash Flow - Inv. | -28.29 | - | - | ||||
| Cash Flow - Fin. | 36.67 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 36.53 | Current Assets | 35.53 | Current Ratio | 4.37 |
| Total Liab. | 65.68 | Current Liab. | 8.13 | Debt Ratio | 179.79% |
| Total Equity | -29.15 | Working Cap. | 27.41 | Debt to Equity Ratio | - |
| Cash | 5.86 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes including working capital and capital spending related to the expansion of its operations. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Testa, Hurwitz & Thibeault |
| Bank's Law Firm | Ropes & Gray |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Highland Capital Partners II, Limited Partnership | 19.40 | |
| Greylock Equity Limited Partnership | 19.40 | |
| Crosslink | 7.60 | |
| Chase Venture Capital Associates, L.P. | 7.60 | |
| Reed Elsevier Inc. | 6.70 | |
| Note: represents ownership of 5% or more prior to the offering. | ||