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| Radview Software Ltd. |
| 7 New England Executive Park, Burlington, MA 01803 * (781) 238-1111 |
| Business Description | The Company provides innovative software that enables companies to verify the performance of their business-critical web applications--the software programs that enable companies to conduct e-business. |
| Offering Information Company has | |||
| Trading As | RDVW (NASNTL) | Industry | High-Tech (SIC 7372) |
| Type of Stock Offered | Common Shares | Filing Date | 7/17/00 |
| Domestic Shares Offered | 4,000,000 | Offer Date | 8/8/00 |
| Foreign Shares Offered | 0 | Filing Range | $10.00 - $12.00 |
| Company Shares | 4,000,000 | Offer Price | $10.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.700 |
| Gross Proceeds | $40,000,000 | Selling | $0.420 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 17,370,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 371-0641 |
| DLJDirect, Inc. | Co-manager | (800) 825-5723 |
| U.S. Bancorp Piper Jaffray | Co-manager | (612) 342-6220 |
| Wit SoundView | 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 | - | - | 0.254 | 0.966 | 5.110 | 0.628 | 2.266 |
| Income from Oper. | - | - | -2.877 | -2.580 | -2.401 | -0.455 | -0.992 |
| Net Income | - | - | -3.005 | -2.715 | -2.741 | -0.573 | -1.050 |
| E.P.S | - | - | - | - | -0.350 | - | -0.090 |
| Revenue Growth (%) | - | - | 280.31 | 428.986 | 260.83 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -1.48 | -0.56 | -0.42 | ||||
| Cash Flow - Inv. | -0.88 | 0.28 | -2.67 | ||||
| Cash Flow - Fin. | 8.89 | 0.04 | -0.09 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 10.10 | Current Assets | 8.49 | Current Ratio | 2.81 |
| Total Liab. | 8.08 | Current Liab. | 3.02 | Debt Ratio | 80.02% |
| Total Equity | 2.02 | Working Cap. | 5.48 | Debt to Equity Ratio | 4.01 |
| Cash | 4.48 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to finance the continued growth of the company's business and general corporate purposes and to repay indebtedness. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Mintz, Levin, Cohn, Ferris, Glovsky And Popeo |
| Bank's Law Firm | Goodwin Procter & Hoar |
| Registrar/Transfer Agent | EquiServe |
| Auditor | Arthur Andersen |
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| Industry Competition |
The web application performance and testing solutions market is intensely competitive, subject to rapid change and significantly affected by new product introductions and other activities of market participants. The Company's primary competitors include companies who mainly offer application testing software, such as Mercury Interactive. In addition, the Company competes against companies that provide a broader spectrum of development tools that include some verification functionality, such as Rational Software. The Company expects that competition will intensify in the future and that additional competitors will enter the market with competing products as the size and visibility of the market opportunity increases. |
| Business Plan |
Key elements of the Company's strategy are: (i) Extend Product Leadership; (ii) Capitalize on Outsourcing Trends; (iii) Target Emerging Market Opportunities, Including Wireless Internet Access; (iv) Develop and Expand Strategic Relationships, (v) Leverage Installed Customer Base; and (vi) Expand Sales Operations. |
| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Formula Ventures | 21.00 | |
| North Bridge Venture Partners III, L.P. | 13.90 | |
| Computer Associates International, Inc. | 12.90 | |
| Sadot Research and Development Fund Ltd. | 12.60 | |
| Note: represents ownership of 5% or more prior to the offering. | ||