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| Corvis Corporation |
| 7015 Albert Einstein Drive, Columbia, MD 21046 * (443) 259-4000 |
| Business Description | The company designs, manufactures and markets products that enable a fundamental shift in the design, and efficiency of backbone networks by allowing for the transmission, switching and management of communications traffic entirely in the optical domain. |
| Offering Information Company has | |||
| Trading As | CORV (NASNTL) | Industry | Telecommunications (SIC 3661) |
| Type of Stock Offered | Common Shares | Filing Date | 5/4/00 |
| Domestic Shares Offered | 31,620,000 | Offer Date | 7/27/00 |
| Foreign Shares Offered | 0 | Filing Range | $28.00 - $30.00 |
| Company Shares | 31,620,000 | Offer Price | $36.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $2.520 |
| Gross Proceeds | $1,138,320,000 | Selling | $1.520 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 334,880,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Banc of America Securities LLC | Co-manager | (415) 627-2100 |
| Chase H&Q; | Co-manager | (415) 439-3626 |
| CIBC World Markets | Co-manager | (212) 667-7400 |
| 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 | 1/1/00 | 4/3/99 | 4/1/00 | ||
| Revenues | - | - | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 |
| Income from Oper. | - | - | -0.537 | -19.102 | -69.123 | -10.736 | -28.271 |
| Net Income | - | - | -0.494 | -19.460 | -71.269 | -11.162 | -26.831 |
| E.P.S | - | - | -0.020 | -0.860 | -2.330 | -0.410 | -0.650 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -71.75 | -7.72 | -31.98 | ||||
| Cash Flow - Inv. | -13.98 | -1.94 | -7.75 | ||||
| Cash Flow - Fin. | 326.29 | 16.13 | -3.56 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 4/1/00 | Financial Ratios | ||||
| Total Assets | 284.69 | Current Assets | 235.96 | Current Ratio | 6.73 |
| Total Liab. | 70.98 | Current Liab. | 35.05 | Debt Ratio | 24.93% |
| Total Equity | 213.71 | Working Cap. | 200.91 | Debt to Equity Ratio | 0.33 |
| Cash | 201.55 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for working capital and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Mayer, Brown & Platt |
| Bank's Law Firm | Shearman & Sterling |
| Auditor | KPMG LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Kleiner Perkins Caufield & Byers | 11.50 | |
| Cisco Systems, Inc. | 6.00 | |
| MeriTech Capital Associates, L.L.C. | ||
| Note: represents ownership of 5% or more prior to the offering. | ||