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| CoSine Communications, Inc. |
| 3200 Bridge Parkway, Redwood City, CA 94065 * (650) 637-4777 |
| Business Description | The company develops, markets and sells the first open architecture communications platform designed to rapidly enable the delivery of market-leading applications and value-added services from within a service provider's network. |
| Offering Information Company has | |||
| Trading As | COSN (NASNTL) | Industry | High-Tech (SIC 3571) |
| Type of Stock Offered | Common Shares | Filing Date | 4/28/00 |
| Domestic Shares Offered | 10,000,000 | Offer Date | 9/25/00 |
| Foreign Shares Offered | 0 | Filing Range | $20.00 - $22.00 |
| Company Shares | 10,000,000 | Offer Price | $23.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.610 |
| Gross Proceeds | $230,000,000 | Selling | $0.960 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 100,127,953 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Chase H&Q; | Co-manager | (415) 439-3626 |
| J.P. Morgan & Co. | Co-manager | (212) 648-0517 |
| 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 | 12/31/97 | 12/31/98 | 12/31/99 | 3/31/99 | 3/31/00 | ||
| Revenues | - | - | 0.000 | 0.000 | 0.000 | 0.000 | 3.540 |
| Income from Oper. | - | - | -0.134 | -9.078 | -38.393 | -6.777 | -39.609 |
| Net Income | - | - | -0.131 | -9.293 | -37.721 | -6.789 | -39.231 |
| E.P.S | - | - | -0.250 | -4.530 | -7.800 | -1.780 | -6.670 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -30.81 | -5.49 | -11.35 | ||||
| Cash Flow - Inv. | -41.28 | -1.03 | 3.47 | ||||
| Cash Flow - Fin. | 85.60 | 22.49 | 6.87 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 68.36 | Current Assets | 54.00 | Current Ratio | 7.55 |
| Total Liab. | 130.54 | Current Liab. | 7.15 | Debt Ratio | 190.95% |
| Total Equity | -62.18 | Working Cap. | 46.85 | Debt to Equity Ratio | - |
| Cash | 19.08 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes, including working capital and capital expenditures, and potential acquisitions of complementary products, technologies or businesses. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Bank's Law Firm | Sullivan & Cromwell |
| Auditor | Ernst & Young |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Entities affiliated with Crescendo | 9.84 | |
| Entities affiliated Worldview | 8.02 | |
| Entities affiliated with Communications Ventures | 7.86 | |
| Entities affiliated with KPCB Holdings, Inc. | 7.39 | |
| Norwest Ventures Partners VII, LP | 6.52 | |
| Falcon Capital, LLC | 5.62 | |
| Note: represents ownership of 5% or more prior to the offering. | ||