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| Versicor, Inc. |
| 34790 Ardentech Ct., Fremont, CA 94555 * (510) 739-3000 |
| Business Description | The company is a biopharmaceutical company focused on the marketing, development and discovery of pharmaceutical products for the treatment of bacterial and fungal infections. |
| Offering Information Company has | |||
| Trading As | VERS (NASNTL) | Industry | Pharmaceutical (SIC 2834) |
| Type of Stock Offered | Common Shares | Filing Date | 3/22/00 |
| Domestic Shares Offered | 4,600,000 | Offer Date | 8/2/00 |
| Foreign Shares Offered | 0 | Filing Range | $11.00 - $13.00 |
| Company Shares | 4,600,000 | Offer Price | $11.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.770 |
| Gross Proceeds | $50,600,000 | Selling | $0.440 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 22,040,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 526-8100 |
| Chase H&Q; | Co-manager | (415) 439-3626 |
| Pacific Growth Equities | Co-manager | (415) 274-6800 |
| UBS Warburg LLC | Co-manager |
| 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 | 4.275 | - | - |
| Income from Oper. | - | - | -6.210 | -12.815 | -23.783 | - | - |
| Net Income | - | - | -6.284 | -12.585 | -25.098 | - | - |
| E.P.S | - | - | -30.390 | -58.880 | -164.800 | - | - |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -15.38 | - | - | ||||
| Cash Flow - Inv. | -0.28 | - | - | ||||
| Cash Flow - Fin. | 45.77 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 45.23 | Current Assets | 34.66 | Current Ratio | 10.40 |
| Total Liab. | 135.68 | Current Liab. | 3.33 | Debt Ratio | 299.96% |
| Total Equity | -90.45 | Working Cap. | 31.33 | Debt to Equity Ratio | - |
| Cash | 34.62 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to fund our operations including clinical development of existing product candidates, acquisition of and development related to new product candidates, commercialization of product candidates, and for other working capital and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | O'Melveny & Meyers |
| Bank's Law Firm | Dewey Ballantine |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Healthcare Ventures V, L.P. | 13.99 | |
| Sepracor Inc. | 10.19 | |
| Apax Europe IV GP Co. Limited | 9.92 | |
| New Enterprise Associates VIII, L.P. | 9.71 | |
| APA Excelsior V, LP | 9.71 | |
| Schroder Ventures International Life Sciences Fund II | 8.78 | |
| H&Q; Healthcare Investors | 5.82 | |
| Abingworth Bioventures SICA V | 5.82 | |
| Note: represents ownership of 5% or more prior to the offering. | ||