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| Sonoma Systems, Inc. |
| 4640 Admiralty Way, Suite 600, Marina del Rey, CA 90292 * (310) 827-8000 |
| Business Description | The company is a leading developer and supplier of Asynchronous Transfer Mode, or ATM, based broadband integrated access devices, or broadband IADs. |
|
Filing Information IPO has been | |||
| To Trade As | SNMA (NASNTL) | Industry | Telecommunications (SIC 3669) |
| Type of Stock Offered | Common Shares | Filing Date | 2/28/00 |
| Domestic Shares Filed | 0 | Filing Price | - - |
| Foreign Shares Filed | 0 | Offering Amount | $60,000,000 |
| Company Shares | 0 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| J.P. Morgan & Co. | Lead Manager | (212) 648-0517 |
| CIBC World Markets | Co-manager | (212) 667-7400 |
| DLJDirect, Inc. | Co-manager | (800) 825-5723 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| 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 | - | - | 6.342 | 6.809 | 7.077 | - | - |
| Income from Oper. | - | - | -6.746 | -9.294 | -14.102 | - | - |
| Net Income | - | - | -6.938 | -9.142 | -14.005 | - | - |
| E.P.S | - | - | - | -117.210 | -39.660 | - | - |
| Revenue Growth (%) | - | - | 7.36 | 3.936 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -15.20 | - | - | ||||
| Cash Flow - Inv. | -1.74 | - | - | ||||
| Cash Flow - Fin. | 8.11 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 12.50 | Current Assets | 11.43 | Current Ratio | 2.76 |
| Total Liab. | 27.44 | Current Liab. | 4.14 | Debt Ratio | 219.51% |
| Total Equity | -14.94 | Working Cap. | 7.30 | Debt to Equity Ratio | - |
| Cash | 5.70 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to redeem the outstanding shares of Series A preferred stock and for general corporate purposes, including working capital, entering into relationships with new OEM partners, expanding our direct sales efforts, additional product development, expanding our customer support organization and possible acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Stradling, Yocca, Carlson & Rauth |
| Bank's Law Firm | Brobeck, Phleger & Harrison |
| Registrar/Transfer Agent | U. S. Stock Transfer Corporation |
| Auditor | Deloitte & Touche |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| VantagePoint Venture Partners 1996 | 25.40 | |
| Crosspoint Venture Partners 1997 | 25.40 | |
| Newbridge (Barbados) Corp. | 17.00 | |
| G.E. Capital Equity Investments, Inc. | 8.10 | |
| Entities Associated with Walden Investment International Group | 6.80 | |
| Entities Associated with Lazard Freres & Co., LLC | 6.10 | |
| Note: represents ownership of 5% or more prior to the offering. | ||