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| POZEN, Inc. |
| 6330 Qudrangle Drive, Suite 240, Chapel Hill, NC 27514 * (919) 490-0012 |
| Business Description | The company is a pharmaceutical development company committed to building a portfolio of products with significant commercial potential in select therapeutic areas. |
| Offering Information Company has | |||
| Trading As | POZN (NASNTL) | Industry | Pharmaceutical (SIC 2834) |
| Type of Stock Offered | Common Shares | Filing Date | 4/28/00 |
| Domestic Shares Offered | 5,000,000 | Offer Date | 10/10/00 |
| Foreign Shares Offered | 0 | Filing Range | $14.00 - $16.00 |
| Company Shares | 5,000,000 | Offer Price | $15.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.050 |
| Gross Proceeds | $75,000,000 | Selling | $0.630 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 26,428,361 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| U.S. Bancorp Piper Jaffray | Lead Manager | (612) 342-6220 |
| Pacific Crest Securities Inc. | Co-manager | (503) 790-0293 |
| Prudential Vector Healthcare | Co-manager | (800) 546-1231 |
| 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 | 12/31/97 | 12/31/98 | 12/31/99 | 3/31/99 | 3/31/00 | ||
| Revenues | - | - | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | -3.589 | -8.336 | -11.251 | -1.967 | -2.984 |
| E.P.S | - | - | -0.830 | -1.930 | -2.600 | -0.450 | -4.570 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -10.76 | -2.16 | -2.36 | ||||
| Cash Flow - Inv. | -0.05 | -0.01 | -0.01 | ||||
| Cash Flow - Fin. | 12.00 | 3.00 | 16.88 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 18.85 | Current Assets | 18.73 | Current Ratio | 7.16 |
| Total Liab. | 19.49 | Current Liab. | 2.61 | Debt Ratio | 103.41% |
| Total Equity | -0.64 | Working Cap. | 16.12 | Debt to Equity Ratio | - |
| Cash | 18.67 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to fund the cost of development, approval and commercialization of product candidates, to acquire or in-license additional product candidates and for working capital and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Morgan, Lewis & Bockius |
| Bank's Law Firm | Ballard, Spahr,Andrews & Ingersoll |
| Auditor | Ernst & Young |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| MEDGROWTH S.A. | 17.80 | |
| Canaan Equity II L.P. | 5.30 | |
| Note: represents ownership of 5% or more prior to the offering. | ||