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| AvantGo, Inc. |
| 1700 South Amphlett Boulevard, Suite 300, San Mateo, CA 94402 * (650) 638-3399 |
| Business Description | The Company provides mobile infrastructure software and services that extend the Internet and corporate applications beyond the desktop to handheld devices and Internet-enabled phones. |
| Offering Information Company has | |||
| Trading As | AVGO (NASNTL) | Industry | High-Tech (SIC 7371) |
| Type of Stock Offered | Common Shares | Filing Date | 6/8/00 |
| Domestic Shares Offered | 5,500,000 | Offer Date | 9/26/00 |
| Foreign Shares Offered | 0 | Filing Range | $9.00 - $11.00 |
| Company Shares | 5,500,000 | Offer Price | $12.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.840 |
| Gross Proceeds | $66,000,000 | Selling | $0.500 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 33,347,590 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| CIBC World Markets | Co-manager | (212) 667-7400 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| 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 | 12/31/99 | 3/31/99 | 3/31/00 | ||
| Revenues | - | - | - | 0.387 | 2.889 | 0.228 | 1.661 |
| Income from Oper. | - | - | - | -2.651 | -9.528 | -1.115 | -7.648 |
| Net Income | - | - | -0.291 | -2.603 | -9.215 | -1.108 | -7.431 |
| E.P.S | - | - | - | -0.950 | -2.110 | -0.310 | -1.300 |
| Revenue Growth (%) | - | - | - | 646.512 | 628.51 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -6.63 | -1.03 | -4.08 | ||||
| Cash Flow - Inv. | -4.85 | -0.07 | 0.41 | ||||
| Cash Flow - Fin. | 3.70 | 15.19 | 28.25 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 42.36 | Current Assets | 40.72 | Current Ratio | 5.51 |
| Total Liab. | 7.41 | Current Liab. | 7.39 | Debt Ratio | 17.49% |
| Total Equity | 34.95 | Working Cap. | 33.33 | Debt to Equity Ratio | 0.21 |
| Cash | 30.42 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes, including investments in sales and marketing, general and administrative activities and product development. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Perkins Coie |
| Bank's Law Firm | Skadden, Arps, Slate, Meagher & Flom |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | Ernst & Young |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| 21st Century Internet Fund, L.P. | 22.14 | |
| Hambrecht & Quist, Inc. | 10.56 | |
| Adobe Ventures II, L.P., entities affiliated with | 10.56 | |
| Note: represents ownership of 5% or more prior to the offering. | ||