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| Elastic Networks, Inc. |
| 6120 Windward Parkway, Suite 100, Alpharetta, GA 30005 * (678) 297-3100 |
| Business Description | The company designs, develops and markets high speed digital subscriber line or DSL, communications products. |
| Offering Information Company has | |||
| Trading As | ELAS (NASNTL) | Industry | Telecommunications (SIC 3661) |
| Type of Stock Offered | Common Shares | Filing Date | 6/29/00 |
| Domestic Shares Offered | 7,800,000 | Offer Date | 9/28/00 |
| Foreign Shares Offered | 0 | Filing Range | $10.00 - $12.00 |
| Company Shares | 6,800,000 | Offer Price | $13.00 |
| Selling Shrhldrs Shares | 1,000,000 | Gross Spread | $0.910 |
| Gross Proceeds | $101,400,000 | Selling | $0.540 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 31,292,821 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Chase H&Q; | Lead Manager | (415) 439-3626 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| 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 | 0.233 | 8.215 | 0.344 | 6.189 |
| Income from Oper. | - | - | -4.503 | -15.230 | -20.945 | -3.386 | -5.723 |
| Net Income | - | - | -4.503 | -15.230 | -20.855 | -3.386 | -5.679 |
| E.P.S | - | - | -0.280 | -0.930 | -1.290 | -0.210 | -0.360 |
| Revenue Growth (%) | - | - | - | 3,425.751 | 1,699.13 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -16.44 | -7.82 | -9.79 | ||||
| Cash Flow - Inv. | -2.39 | -0.05 | 0.77 | ||||
| Cash Flow - Fin. | 22.69 | 7.87 | 20.90 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 27.55 | Current Assets | 25.75 | Current Ratio | 2.10 |
| Total Liab. | 42.37 | Current Liab. | 12.28 | Debt Ratio | 153.80% |
| Total Equity | -14.82 | Working Cap. | 13.47 | Debt to Equity Ratio | - |
| Cash | 15.75 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to fund the expansion of business, operating deficits and other working capital needs, for general corporate purposes and short term debt repayment. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Hunton & Williams |
| Bank's Law Firm | Jones, Day, Reavis & Pogue |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | Deloitte & Touche |
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| Industry Competition |
The Company operates in the highly competitive telecommunications access industry. The Company believes that competition may increase substantially with the introduction of new technologies, deployment of new broadband communications networks and potential changes in the regulatory environment which may create new opportunities for established and emerging companies. The Company�s current and prospective competitors include many large companies that have substantially greater market presence, financial, technical, marketing and other resources than the Company. The Company competes directly or indirectly with various providers of DSL technology, including Alcatel, Cisco, Copper Mountain, Lucent, Nokia, Nortel and Tut Systems. |
| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Nortel Networks Inc. | 62.80 | |
| Pequot entities | 20.20 | |
| Note: represents ownership of 5% or more prior to the offering. | ||