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| Airspan Network, Inc. |
| Cambridge House, Oxford Road, Uxbridge, United Kingdom UB8 1UN |
| Business Description | The company is a leading global supplier of fixed wireless communications access systems that enable communications service providers to cost effectively deliver integrated high speed data and voice services. |
| Offering Information Company has | |||
| Trading As | AIRN (NASNTL) | Industry | Telecommunications (SIC 4812) |
| Type of Stock Offered | Common Shares | Filing Date | 4/11/00 |
| Domestic Shares Offered | 5,500,000 | Offer Date | 7/19/00 |
| Foreign Shares Offered | 0 | Filing Range | $12.00 - $14.00 |
| Company Shares | 5,500,000 | Offer Price | $15.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.050 |
| Gross Proceeds | $82,500,000 | Selling | $0.630 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 33,280,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Deutsch Banc Alex. Brown | Co-manager | (410) 727-1700 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| U.S. Bancorp Piper Jaffray | Co-manager | (612) 342-6220 |
| 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 | - | - | 4.818 | 11.485 | 12.480 | - | - |
| Income from Oper. | - | - | -16.743 | -35.565 | -29.496 | - | - |
| Net Income | - | - | - | -35.596 | -29.449 | - | - |
| E.P.S | - | - | - | -0.850 | -0.460 | - | - |
| Revenue Growth (%) | - | - | 138.38 | 8.663 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -29.78 | - | - | ||||
| Cash Flow - Inv. | -4.28 | - | - | ||||
| Cash Flow - Fin. | 56.70 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 88.22 | Current Assets | 79.67 | Current Ratio | 7.33 |
| Total Liab. | 31.01 | Current Liab. | 10.87 | Debt Ratio | 35.15% |
| Total Equity | 57.21 | Working Cap. | 68.80 | Debt to Equity Ratio | 0.54 |
| Cash | 58.83 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for working capital, general corporate purposes including increased research and development and sales and marketing expenditures and possible acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Preston Gates & Ellis |
| Bank's Law Firm | Davis, Polk & Wardwell |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | Ernst & Young |
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