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| Capstone Turbine Corporation |
| 6430 Independence, Woodland Hills, CA 91367 * (818) 716-2929 |
| Business Description | The company develops, designs, assembles and sells Capstone MicroTurbines for worldwide applications in the multibillion dollar distributed power generation and hybrid electric vehicle markets. |
| Offering Information Company has | |||
| Trading As | CPST (NASNTL) | Industry | Manufacturing (SIC 3629) |
| Type of Stock Offered | Common Shares | Filing Date | 3/22/00 |
| Domestic Shares Offered | 9,090,909 | Offer Date | 6/28/00 |
| Foreign Shares Offered | 0 | Filing Range | $14.00 - $16.00 |
| Company Shares | 9,090,909 | Offer Price | $16.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.120 |
| Gross Proceeds | $145,454,544 | Selling | $0.660 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 74,890,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Morgan Stanley Dean Witter | Co-manager | (212) 761-5900 |
| 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 | 0.920 | 1.462 | 1.623 | 0.084 | 6.694 | - | - |
| Income from Oper. | -5.953 | -12.901 | -30.751 | -34.527 | -29.277 | - | - |
| Net Income | -5.957 | -12.595 | -30.553 | -33.073 | -29.530 | - | - |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | 58.91 | 11.01 | -94.82 | 7,869.048 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -24.45 | - | - | ||||
| Cash Flow - Inv. | -5.19 | - | - | ||||
| Cash Flow - Fin. | 31.56 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 36.93 | Current Assets | 20.30 | Current Ratio | 1.45 |
| Total Liab. | 181.15 | Current Liab. | 14.01 | Debt Ratio | 490.57% |
| Total Equity | -144.23 | Working Cap. | 6.29 | Debt to Equity Ratio | - |
| Cash | 6.86 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for purchasing tooling and manufacturing equipment, expanding sales and marketing activities, continuing product development, payment to Fletcher Challenge Limited as part of a buyback of marketing rights, and for general corporate purposes including research and product development, manufacturing and market development, capital expenditures and potential acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Latham & Watkins |
| Bank's Law Firm | Sullivan & Cromwell |
| Auditor | Ernst & Young |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Peter Steele | 12.29 | |
| RHO Management Trust I | 9.48 | |
| Southern Union Co. | 6.29 | |
| Vulcan Ventures, Inc. | 5.35 | |
| Note: represents ownership of 5% or more prior to the offering. | ||