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| Sonic Innovations, Inc. |
| 2795 East Cottonwood Parkway, Suite 660, Salt Lake City, UT 84121 * (801) 365-2800 |
| Business Description | The company designs, manufactures and markets advanced digital hearing aids and hearing aid components designed to provide the highest levels of satisfaction for hearing impaired consumers. |
| Offering Information Company has | |||
| Trading As | SNCI (NASNTL) | Industry | Pharmaceutical (SIC 2834) |
| Type of Stock Offered | Common Shares | Filing Date | 2/16/00 |
| Domestic Shares Offered | 3,600,000 | Offer Date | 5/1/00 |
| Foreign Shares Offered | 0 | Filing Range | $12.00 - $14.00 |
| Company Shares | 3,600,000 | Offer Price | $14.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.980 |
| Gross Proceeds | $50,400,000 | Selling | $0.580 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Deutsch Banc Alex. Brown | Co-manager | (410) 727-1700 |
| U.S. Bancorp Piper Jaffray | Co-manager | (612) 342-6220 |
| 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 | 12/31/95 | 12/31/96 | 12/31/97 | 12/31/98 | 12/31/99 | ||
| Revenues | 0.000 | 0.000 | 0.000 | 2.143 | 28.694 | - | - |
| Income from Oper. | -1.080 | -1.545 | -5.326 | -14.189 | -13.751 | - | - |
| Net Income | -1.073 | -1.584 | -5.235 | -13.878 | -14.906 | - | - |
| E.P.S | -1.190 | -1.690 | -4.330 | -8.220 | -6.690 | - | - |
| Revenue Growth (%) | - | - | - | 1,238.964 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -13.96 | - | - | ||||
| Cash Flow - Inv. | -1.15 | - | - | ||||
| Cash Flow - Fin. | 9.05 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 18.46 | Current Assets | 13.93 | Current Ratio | 0.73 |
| Total Liab. | 57.26 | Current Liab. | 19.05 | Debt Ratio | 310.17% |
| Total Equity | -38.80 | Working Cap. | -5.12 | Debt to Equity Ratio | - |
| Cash | 5.94 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes including product development and commercialization, research and development, repayment of outstanding indebtedness and working capital and possibly acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Bank's Law Firm | Sullivan & Cromwell |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Entities affiliated with Venrock Associates | 16.30 | |
| Entities affiliated with Accel Partners | 16.30 | |
| Entities affiliated with MPM Asset Management | 13.60 | |
| Entities affiliated with New Enterprise Associates | 11.50 | |
| Entities affiliated with Morgenthaler Venture Partners | 11.50 | |
| Entities affiliated with The Travelers Insurance Company | 8.40 | |
| Hoya Healthcare Corporation | ||
| Note: represents ownership of 5% or more prior to the offering. | ||