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| Genuity, Inc. |
| 3 Van de Graaff Drive, Burlington, MA 01803 * (781) 262-3000 |
| Business Description | The company is a leading facilities based provider of high-quality, managed Internet infrastructure services to enterprises and service providers. |
| Offering Information Company has | ||||
| Trading As | GENU (NASNTL) | Industry | Internet (SIC 7371) | |
| Type of Stock Offered | Class A Common Shares | Filing Date | 4/7/00 | |
| Domestic Shares Offered | 173,913,000 | Offer Date | 6/27/00 | |
| Foreign Shares Offered | 0 | Filing Range | $12.00 - $15.00 | |
| Company Shares | 173,913,000 | Offer Price | $11.00 | |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.434 | |
| Gross Proceeds | $1,913,043,000 | Selling | $0.260 | |
| Expenses | - - | Reallowance | - - | |
| Post-IPO Shares | 193,170,000 | Employees | - - | |
| Spun out from: | GTE | |||
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Morgan Stanley Dean Witter | Lead Manager | (212) 761-5900 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| 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 | 12/31/98 | 12/31/99 | |||||
| Revenues | - | - | - | 471.538 | 750.424 | - | - |
| Income from Oper. | - | - | - | -462.443 | -624.737 | - | - |
| Net Income | - | - | - | -467.040 | -626.689 | - | - |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | - | 59.144 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -399.29 | - | - | ||||
| Cash Flow - Inv. | -708.27 | - | - | ||||
| Cash Flow - Fin. | 1,099.72 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 2,373.16 | Current Assets | 277.78 | Current Ratio | 0.00 |
| Total Liab. | 669.82 | Current Liab. | 536,262.00 | Debt Ratio | 28.22% |
| Total Equity | 1,703.34 | Working Cap. | -535,984.22 | Debt to Equity Ratio | 0.39 |
| Cash | 6.04 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for capital expenditures in connection with the expansion of network infrastructure, increased sales and marketing activities, funding operating losses and general corporate purposes including working capital and possible acquisitions of and investments in other businesses and technologies. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Ropes & Gray |
| Bank's Law Firm | Sullivan & Cromwell |
| Registrar/Transfer Agent | EquiServe |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| GTE Corporation | ||
| Note: represents ownership of 5% or more prior to the offering. | ||