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| Curon Medical, Inc. |
| 735 Palomar Avenue, Sunnyvale, CA 94086 * (408) 733-9910 |
| Business Description | We develop, manufacture and market innovative proprietary products for the treatment of gastrointestinal disorders. |
| Offering Information Company has | |||
| Trading As | CURN (NASNTL) | Industry | Manufacturing (SIC 3845) |
| Type of Stock Offered | Common Shares | Filing Date | 5/25/00 |
| Domestic Shares Offered | 5,000,000 | Offer Date | 9/21/00 |
| Foreign Shares Offered | 0 | Filing Range | $11.00 - $13.00 |
| Company Shares | 5,000,000 | Offer Price | $11.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.770 |
| Gross Proceeds | $55,000,000 | Selling | $0.460 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 18,660,000 | Employees | 56 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| UBS Warburg LLC | Lead Manager | |
| CIBC World Markets | Co-manager | (212) 667-7400 |
| SG Cowen | Co-manager | (212) 495-6000 |
| 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 | 12/31/98 | 12/31/99 | 3/31/99 | 3/31/00 | |||
| Revenues | - | - | - | 0.000 | 0.000 | 0.000 | 0.044 |
| Income from Oper. | - | - | - | -2.875 | -14.258 | -1.776 | -3.413 |
| Net Income | - | - | - | -2.953 | -14.089 | -1.755 | -3.309 |
| E.P.S | - | - | - | -1.280 | -4.350 | -0.570 | -0.920 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -8.08 | -1.33 | -2.67 | ||||
| Cash Flow - Inv. | -2.53 | -0.25 | 1.42 | ||||
| Cash Flow - Fin. | 14.09 | 0.04 | 0.14 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 9.68 | Current Assets | 7.42 | Current Ratio | 5.90 |
| Total Liab. | 23.26 | Current Liab. | 1.26 | Debt Ratio | 240.24% |
| Total Equity | -13.58 | Working Cap. | 6.16 | Debt to Equity Ratio | - |
| Cash | 6.88 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for continued development, manufacturing and commercialization of existing and future products, research and development, support of clinical trials, reimbursement efforts, and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Bank's Law Firm | Dewey Ballantine |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| U.S. Venture Partners affiliated entities | ||
| Travelers Insurance Co | ||
| ONSET Ventures affiliated entities | ||
| Excelsior Private Equity Fund II | ||
| Note: represents ownership of 5% or more prior to the offering. | ||