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| IWO Holdings, Inc. |
| 319 Great Oaks Boulevard, Albany, NY 12203 * (518) 862-6001 |
| Business Description | The Company provides digital wireless personal communications services, commonly referred to as PCS, and related products to customers located in a region in the northeastern United States comprising approximately 6.2 million residents. |
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Filing Information Not yet | |||
| To Trade As | IONE (NASNTL) | Industry | Telecommunications (SIC 4812) |
| Type of Stock Offered | Common Shares | Filing Date | 6/20/00 |
| Domestic Shares Filed | 0 | Filing Price | - - |
| Foreign Shares Filed | 0 | Offering Amount | $150,000,000 |
| Company Shares | 0 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 371-0641 |
| Chase H&Q; | Co-manager | (415) 439-3626 |
| Deutsch Banc Alex. Brown | Co-manager | (410) 727-1700 |
| DLJDirect, Inc. | Co-manager | (800) 825-5723 |
| First Union Capital Markets Corp. | Co-manager | (804) 649-2311 |
| UBS Warburg LLC | Co-manager |
| 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 | - | - | 0.000 | 0.000 | 0.000 | 0.000 | 10.011 |
| Income from Oper. | - | - | -0.006 | -0.059 | -15.608 | -0.093 | -8.203 |
| Net Income | - | - | -0.006 | -0.059 | -15.918 | -0.106 | -8.823 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -13.43 | -0.23 | -2.32 | ||||
| Cash Flow - Inv. | -4.79 | -0.35 | -131.46 | ||||
| Cash Flow - Fin. | 122.58 | 0.30 | 49.47 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 175.36 | Current Assets | 25.45 | Current Ratio | 2.36 |
| Total Liab. | 60.63 | Current Liab. | 10.80 | Debt Ratio | 34.57% |
| Total Equity | 114.73 | Working Cap. | 14.66 | Debt to Equity Ratio | 0.53 |
| Cash | 20.45 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for capital expenditures, including the build-out of our personal communications services network; operating losses; working capital requirements; and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Gibson, Dunn & Crutcher |
| Bank's Law Firm | Skadden, Arps, Slate, Meagher & Flom |
| Auditor | Pricewaterhouse Coopers LLC |
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| Industry Competition |
The Company competes with a number of cellular carriers and new personal communications services entrants in each of our markets. These providers in the Company�s service area serve different geographic segments but no single carrier provides complete coverage throughout the Company�s service territory. The two largest competitors in terms of market coverage are Verizon Wireless, which serves approximately 65% of the Company�s markets, and SBC Communications, which serves approximately 30% of the Company�s markets. Both of these carriers are cellular operators and have been selectively upgrading their networks to digital technologies. |
| Business Plan |
The key elements of the Company�s strategy include: (i) Build High Quality Personal Communications Services Network, (ii) Execute an Integrated Marketing Plan, (iii) Develop an Efficient Operating Structure and (iv) Pursue Selective Acquisitions. |
| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| SIPCO Limited | 20.20 | |
| Investcorp S.A | 20.20 | |
| Odyssey Investment Partners Fund, LP | 12.20 | |
| Investcorp IWO Limited Partnership | 12.00 | |
| Wireless IIP Limited | 6.40 | |
| Note: represents ownership of 5% or more prior to the offering. | ||