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| Virage Logic Corporation |
| 46501 Landing Parkway, Fremont, CA 94538 * (510) 360-8000 |
| Business Description | The company is a leading provider of embedded memory technologies. |
| Offering Information Company has | |||
| Trading As | VIRL (NASNTL) | Industry | High-Tech (SIC 3674) |
| Type of Stock Offered | Common Shares | Filing Date | 5/2/00 |
| Domestic Shares Offered | 3,750,000 | Offer Date | 7/31/00 |
| Foreign Shares Offered | 0 | Filing Range | $11.00 - $13.00 |
| Company Shares | 3,750,000 | Offer Price | $12.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.840 |
| Gross Proceeds | $45,000,000 | Selling | $0.480 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 18,840,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Robertson, Stephens & Company | Lead Manager | (415) 989-8500 |
| Needham & Company | Co-manager | (212) 705-0344 |
| SG Cowen | Co-manager | (212) 495-6000 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 6 Months Ending | ||||||
| Figures in U.S. millions except per share data | 9/30/96 | 9/30/97 | 9/30/98 | 9/30/99 | 3/31/99 | 3/31/00 | |
| Revenues | - | 0.324 | 0.369 | 1.970 | 9.589 | 3.474 | 8.806 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | 0.006 | -0.373 | -0.851 | 0.246 | 0.218 | -0.556 |
| E.P.S | - | 0.060 | -0.850 | -0.190 | 0.050 | 0.050 | -0.100 |
| Revenue Growth (%) | - | 13.89 | 433.88 | 386.751 | 153.48 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | 1.85 | - | - | 2.57 | - | 6.28 |
| Cash Flow - Oper. | 0.02 | 0.35 | -0.71 | ||||
| Cash Flow - Inv. | -1.42 | -1.06 | -1.88 | ||||
| Cash Flow - Fin. | 0.94 | -0.01 | 9.00 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 19.14 | Current Assets | 15.07 | Current Ratio | 3.31 |
| Total Liab. | 15.03 | Current Liab. | 4.55 | Debt Ratio | 78.54% |
| Total Equity | 4.11 | Working Cap. | 10.52 | Debt to Equity Ratio | 3.66 |
| Cash | 7.93 | Return on Assets | 1.29% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for research and development, sales and marketing and general corporate purposes including possible acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Heller, Ehrman, White & McAuliffe |
| Bank's Law Firm | O'Melveny & Meyers |
| Auditor | Ernst & Young |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Crosslink Capital, Inc. | 14.30 | |
| Tower Semiconductor | 6.40 | |
| Note: represents ownership of 5% or more prior to the offering. | ||