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| Kosan Biosciences Incorporated |
| 3832 Bay Center Place, Haywood, CA 94545 * (510) 732-8400 |
| Business Description | The company is a biotechnology company that focuses on the genetic manipulation of an important class of organic, natural molecules known as polyketides. |
| Offering Information Company has | |||
| Trading As | KOSN (NASNTL) | Industry | Service (SIC 8731) |
| Type of Stock Offered | Common Shares | Filing Date | 3/31/00 |
| Domestic Shares Offered | 5,000,000 | Offer Date | 10/4/00 |
| Foreign Shares Offered | 0 | Filing Range | $14.00 - $16.00 |
| Company Shares | 5,000,000 | Offer Price | $14.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.980 |
| Gross Proceeds | $70,000,000 | Selling | $0.560 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 23,844,539 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 526-8100 |
| CIBC World Markets | Co-manager | (212) 667-7400 |
| Fidelity Capital Markets | Co-manager | |
| SG Cowen | Co-manager | (212) 495-6000 |
| 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 | - | - | 0.287 | 1.236 | 5.346 | - | - |
| Income from Oper. | - | - | -2.092 | -3.785 | -5.054 | - | - |
| Net Income | - | - | -1.994 | -3.267 | -4.401 | - | - |
| E.P.S | - | - | -1.460 | -2.300 | -2.930 | - | - |
| Revenue Growth (%) | - | - | 330.66 | 332.524 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -3.89 | - | - | ||||
| Cash Flow - Inv. | -0.98 | - | - | ||||
| Cash Flow - Fin. | 0.90 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 14.16 | Current Assets | 2.85 | Current Ratio | 1.36 |
| Total Liab. | 3.69 | Current Liab. | 2.10 | Debt Ratio | 26.04% |
| Total Equity | 10.47 | Working Cap. | 0.75 | Debt to Equity Ratio | 0.35 |
| Cash | 1.03 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for advancing product candidates through preclinical and later-stage development, discovering new product candidates, expanding technology platform, including through in-licensing opportunities or acquisition of complementary technologies, capital expenditures, working capital and general corporate purposes and possible future acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Bank's Law Firm | Brobeck, Phleger & Harrison |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | Ernst & Young |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Alta Partners | 12.80 | |
| AG Biotech Capital | 8.00 | |
| Lombard Odier & Cie | 6.80 | |
| Franklin Biotechnology Discovery Fund | 6.20 | |
| S.R. One, Limited | 5.10 | |
| Note: represents ownership of 5% or more prior to the offering. | ||