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| SureBeam Corporation |
| 3033 Science Park Road, San Diego, CA 92121 * (858) 552-9500 |
| Business Description | The company is the leading provider of patented and proprietary electronic pasteurization systems and services for the food industry. |
| Offering Information Company has | |||
| Trading As | SURE (NASNTL) | Industry | Manufacturing (SIC 3556) |
| Type of Stock Offered | Class A Common Shares | Filing Date | 8/14/2000 |
| Domestic Shares Offered | 6,700,000 | Offer Date | 3/15/2001 |
| Foreign Shares Offered | 0 | Filing Range | $10.00 - $12.00 |
| Company Shares | 6,700,000 | Offer Price | $10.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.700 |
| Gross Proceeds | $67,000,000 | Selling | $0.400 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 55,752,792 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| A.G. Edwards & Sons, Inc. | Co-manager | (314) 955-3039 |
| CS First Boston | Co-manager | (212) 325-2000 |
| First Union Capital Markets Corp. | Co-manager | (804) 649-2311 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 6 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1995 | 12/31/1996 | 12/31/1997 | 12/31/1998 | 12/31/1999 | 6/30/1999 | 6/30/2000 |
| Revenues | 7.635 | 7.930 | 8.255 | 11.184 | 14.339 | 6.710 | 13.091 |
| Income from Oper. | -1.787 | -0.803 | -1.346 | 0.208 | 1.625 | 0.416 | 0.769 |
| Net Income | -1.898 | -1.380 | -1.854 | -0.662 | 0.205 | -0.198 | -0.427 |
| E.P.S | -0.040 | -0.030 | -0.040 | -0.010 | 0.000 | 0.000 | -0.010 |
| Revenue Growth (%) | 3.86 | 4.10 | 35.48 | 28.210 | 95.10 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | 1.86 | 11.33 | 5.87 | 6.20 |
| Net Profit Margin (%) | - | - | - | - | 1.43 | - | - |
| Cash Flow - Oper. | -2.00 | -2.03 | -5.27 | ||||
| Cash Flow - Inv. | -4.08 | -0.07 | -11.01 | ||||
| Cash Flow - Fin. | 6.09 | 2.10 | 16.28 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 6/30/2000 | Financial Ratios | ||||
| Total Assets | 42.05 | Current Assets | 11.00 | Current Ratio | 2.37 |
| Total Liab. | 7.25 | Current Liab. | 4.64 | Debt Ratio | 17.25% |
| Total Equity | 34.80 | Working Cap. | 6.36 | Debt to Equity Ratio | 0.21 |
| Cash | - | Return on Assets | 0.49% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to build new SureBeam systems and service centers; expand manufacturing capacity; increase marketing activities; pursue strategic alliances; pursue acquisitions of complementary businesses and technology; fund working capital and fund general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Cooley Godward Castro Huddleson & Tatum |
| Bank's Law Firm | Brown & Wood |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Titan Corporation, The | 95.00 | |
| Note: represents ownership of 5% or more prior to the offering. | ||