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| Network Engines, Inc. |
| 61 Pleasant Street, Randolph, MA 02368 * (781) 961-4400 |
| Business Description | The company develops, markets and provides integrated, scalable and powerful server appliances that deliver Internet application functionality. |
| Offering Information Company has | |||
| Trading As | NENG (NASNTL) | Industry | High-Tech (SIC 3572) |
| Type of Stock Offered | Common Shares | Filing Date | 4/7/2000 |
| Domestic Shares Offered | 6,500,000 | Offer Date | 7/12/2000 |
| Foreign Shares Offered | 0 | Filing Range | $13.00 - $15.00 |
| Company Shares | 6,500,000 | Offer Price | $17.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.190 |
| Gross Proceeds | $110,500,000 | Selling | $0.710 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 32,670,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 371-0641 |
| Dain Rauscher Wessels | Co-manager | (612) 371-2818 |
| DLJDirect, Inc. | Co-manager | (800) 825-5723 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 9/30/1998 | 9/30/1999 | 12/31/1998 | 12/31/1999 | |||
| Revenues | - | - | - | 1.102 | 6.031 | 0.223 | 4.415 |
| Income from Oper. | - | - | - | -3.625 | -5.247 | -1.240 | -1.616 |
| Net Income | - | - | - | -4.199 | -5.830 | -2.170 | -1.586 |
| E.P.S | - | - | - | - | -1.580 | - | -0.310 |
| Revenue Growth (%) | - | - | - | 447.278 | 1,879.82 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -5.14 | -1.16 | -1.16 | ||||
| Cash Flow - Inv. | -0.72 | -0.06 | -0.78 | ||||
| Cash Flow - Fin. | 7.19 | 1.15 | 25.38 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1999 | Financial Ratios | ||||
| Total Assets | 20.93 | Current Assets | 29.70 | Current Ratio | 6.79 |
| Total Liab. | 33.03 | Current Liab. | 4.38 | Debt Ratio | 157.80% |
| Total Equity | -12.10 | Working Cap. | 25.33 | Debt to Equity Ratio | - |
| Cash | 24.88 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for research and development, sales and marketing including international expansion, potential acquisitions of businesses, technologies or products and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Hale and Dorr |
| Bank's Law Firm | Testa, Hurwitz & Thibeault |
| Registrar/Transfer Agent | EquiServe |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| HarbourVest Partners, LLC | 17.60 | |
| Ascent Venture Partners II, L.P. | 17.00 | |
| MD Co. | 13.50 | |
| Egan-Managed Capital, L.P. | 10.10 | |
| Canaan Equity Partners II, LLC | 6.30 | |
| Note: represents ownership of 5% or more prior to the offering. | ||