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| Accelerated Networks, Inc. |
| 301 Science Drive, Moorpark, CA 93021 * (805) 553-9680 |
| Business Description | The company develops and markets telecommunications products that enable the bundling of voice and data services over a single broadband access network. |
| Offering Information Company has | |||
| Trading As | ACCL (NASNTL) | Industry | High-Tech (SIC 3577) |
| Type of Stock Offered | Common Shares | Filing Date | 3/3/00 |
| Domestic Shares Offered | 4,000,000 | Offer Date | 6/22/00 |
| Foreign Shares Offered | 0 | Filing Range | $11.00 - $13.00 |
| Company Shares | 4,000,000 | Offer Price | $15.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.050 |
| Gross Proceeds | $60,000,000 | Selling | $0.630 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 49,790,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Dain Rauscher Wessels | Co-manager | (612) 371-2818 |
| 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 | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/97 | 12/31/98 | 12/31/99 | ||||
| Revenues | - | - | 0.000 | 0.000 | 8.466 | - | - |
| Income from Oper. | - | - | -1.611 | -10.163 | -22.257 | - | - |
| Net Income | - | - | -1.488 | -9.711 | -21.227 | - | - |
| E.P.S | - | - | -0.420 | -2.000 | -3.290 | - | - |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -22.45 | - | - | ||||
| Cash Flow - Inv. | 1.42 | - | - | ||||
| Cash Flow - Fin. | 32.74 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 28.68 | Current Assets | 23.70 | Current Ratio | 4.34 |
| Total Liab. | 57.24 | Current Liab. | 5.45 | Debt Ratio | 199.61% |
| Total Equity | -28.57 | Working Cap. | 18.24 | Debt to Equity Ratio | - |
| Cash | 15.21 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for working capital, and other general corporate purposes including expenditures for research and development, sales and marketing efforts, and potential acquisitions or investments in complementary businesses, technologies or products. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Brobeck, Phleger & Harrison |
| Bank's Law Firm | Shearman & Sterling |
| Registrar/Transfer Agent | U. S. Stock Transfer Corporation |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Entities affiliated with Siemens AG | 20.11 | |
| Entities affiliated with U.S. Venture Partners | 14.58 | |
| Entities affiliated with New Enterprise Associates | 14.58 | |
| Onset Enterprise Associates III, L.P. | 7.26 | |
| Entities affiliated with The Walden International Investment Group | 7.26 | |
| Note: represents ownership of 5% or more prior to the offering. | ||