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| Element K Corporation |
| 500 Canal View Boulevard, Rochester, NY 14623 * (716) 240-7500 |
| Business Description | The company is a leading provider of Web-based learning, or e-learning, designed to address the strategic objectives of businesses and government organizations by helping them build knowledge, expand competencies and improve productivity. |
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Filing Information IPO has been | |||
| To Trade As | LMNK (NASNTL) | Industry | Internet (SIC 7372) |
| Type of Stock Offered | Class A Common Shares | Filing Date | 5/9/2000 |
| Domestic Shares Filed | 5,500,000 | Filing Range | $10.00 - $12.00 |
| Foreign Shares Filed | 0 | Offering Amount | $60,500,000 |
| Company Shares | 5,500,000 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Chase H&Q; | Co-manager | (415) 439-3626 |
| Thomas Weisel Partners LLC | Co-manager | (415) 364-2500 |
| 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 | 12/31/1997 | 12/31/1998 | 12/31/1999 | ||||
| Revenues | - | - | 0.225 | 1.737 | 4.946 | - | - |
| Income from Oper. | - | - | -0.128 | -4.082 | -8.739 | - | - |
| Net Income | - | - | -0.128 | -4.082 | -8.739 | - | - |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | 672.00 | 184.744 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | - | - | - | ||||
| Cash Flow - Inv. | - | - | - | ||||
| Cash Flow - Fin. | - | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1999 | Financial Ratios | ||||
| Total Assets | 6.79 | Current Assets | - | Current Ratio | - |
| Total Liab. | 0.00 | Current Liab. | - | Debt Ratio | - |
| Total Equity | - | Working Cap. | -4.33 | Debt to Equity Ratio | - |
| Cash | - | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for to purchase the equity interests in content not already owned by the company, expand the online library, build brand awareness, improve technical capabilities, increase sales and marketing efforts and fund other general corporate purposes including future acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Skadden, Arps, Slate, Meagher & Flom |
| Bank's Law Firm | Cravath, Swaine & Moore |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Wasserstein Perella | ||
| U.S. Equity Partners, L.P. | ||
| TMCT Ventures, L.P. | ||
| HCL Corp. | ||
| BankAmerica | ||
| Note: represents ownership of 5% or more prior to the offering. | ||