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| Rita Medical Systems, Inc. |
| 967 N. Shoreline Blvd., Mountain View, CA 94043 * (650) 390-8500 |
| Business Description | The company is a medical device company that develops, manufactures and markets innovative products to treat patients with solid cancerous or benign tumors. |
| Offering Information Company has | |||
| Trading As | RITA (NASNTL) | Industry | Manufacturing (SIC 3845) |
| Type of Stock Offered | Common Shares | Filing Date | 5/3/00 |
| Domestic Shares Offered | 3,600,000 | Offer Date | 7/26/00 |
| Foreign Shares Offered | 0 | Filing Range | $11.00 - $13.00 |
| Company Shares | 3,600,000 | Offer Price | $12.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.840 |
| Gross Proceeds | $43,200,000 | Selling | $0.500 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 13,540,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Salomon Smith Barney | Lead Manager | (212) 723-7300 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| 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 | - | - | 0.220 | 1.137 | 4.629 | - | - |
| Income from Oper. | - | - | -5.684 | -6.721 | -7.748 | - | - |
| Net Income | - | - | -5.860 | -6.749 | -7.510 | - | - |
| E.P.S | - | - | -11.020 | -10.100 | -9.330 | - | - |
| Revenue Growth (%) | - | - | 416.82 | 307.124 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -6.87 | - | - | ||||
| Cash Flow - Inv. | -3.26 | - | - | ||||
| Cash Flow - Fin. | 11.88 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 15.71 | Current Assets | 14.76 | Current Ratio | 6.35 |
| Total Liab. | 42.70 | Current Liab. | 2.33 | Debt Ratio | 271.86% |
| Total Equity | -26.99 | Working Cap. | 12.44 | Debt to Equity Ratio | - |
| Cash | 7.07 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to fund business development, such as research and development, clinical research and sales and marketing, to provide working capital and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Venture Law Group |
| Bank's Law Firm | Cravath, Swaine & Moore |
| Registrar/Transfer Agent | U. S. Stock Transfer Corporation |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Patricof & Co. Ventures and affiliated entities | 19.40 | |
| Morgan Stanley Dean Witter Venture Partners and affiliated entities | 16.10 | |
| BankAmerica Ventures affiliated entities | 8.60 | |
| Sequoia Capital affiliated entities | 8.20 | |
| Mohr, Davidow Ventures III, L.P. | 6.90 | |
| Delphi Ventures III affiliated entities | 6.90 | |
| Nissho Iwai affiliated entities | 5.30 | |
| Note: represents ownership of 5% or more prior to the offering. | ||