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| SpeechWorks International, Inc. |
| 695 Atlantic Avenue, Boston, MA 02111 * (617) 428-4444 |
| Business Description | The company is a leading provider of software products and professional services that enable enterprises and communications carriers to offer automated, speech-activated services over any telephone. |
| Offering Information Company has | |||
| Trading As | SPWX (NASNTL) | Industry | Service (SIC 8731) |
| Type of Stock Offered | Common Shares | Filing Date | 4/19/00 |
| Domestic Shares Offered | 4,750,000 | Offer Date | 7/31/00 |
| Foreign Shares Offered | 0 | Filing Range | $17.00 - $19.00 |
| Company Shares | 4,750,000 | Offer Price | $20.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.400 |
| Gross Proceeds | $95,000,000 | Selling | $0.840 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 29,000,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Chase H&Q; | Lead Manager | (415) 439-3626 |
| J.P. Morgan & Co. | Co-manager | (212) 648-0517 |
| 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 | - | - | 2.042 | 5.850 | 14.011 | - | - |
| Income from Oper. | - | - | -2.880 | -5.979 | -15.739 | - | - |
| Net Income | - | - | -2.520 | -5.760 | -15.463 | - | - |
| E.P.S | - | - | -0.830 | -1.440 | -3.280 | - | - |
| Revenue Growth (%) | - | - | 186.48 | 139.504 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -14.56 | - | - | ||||
| Cash Flow - Inv. | -3.47 | - | - | ||||
| Cash Flow - Fin. | 25.02 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 20.57 | Current Assets | 16.61 | Current Ratio | 3.71 |
| Total Liab. | 48.81 | Current Liab. | 4.47 | Debt Ratio | 237.35% |
| Total Equity | -28.25 | Working Cap. | 12.13 | Debt to Equity Ratio | - |
| Cash | 11.47 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used primarily for general corporate purposes, including working capital, marketing, capital expenditures and potential strategic acquisitions or investments. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Mintz, Levin, Cohn, Ferris, Glovsky And Popeo |
| Bank's Law Firm | Hale and Dorr |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Charles River Partnership VII | 12.20 | |
| Atlas Venture fund II, L.P. | 12.20 | |
| Bank of America Ventures | 11.20 | |
| QuestMark Partners, L.P. | 10.60 | |
| Note: represents ownership of 5% or more prior to the offering. | ||