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| Giganet Ltd. |
| 24 Raoul Wallenberg St., Tel Aviv, Israel 69719 |
| Business Description | The company designs, develops, manufactures and sells high capacity wireless equipment that enables communications service providers to deliver Internet access, and combined, or integrated data, video and voice transmission, through communications networks. |
| Offering Information Company has | |||
| Trading As | GGNT (NASNTL) | Industry | Telecommunications (SIC 3663) |
| Type of Stock Offered | Ordinary Shares | Filing Date | 7/18/00 |
| Domestic Shares Offered | 5,000,000 | Offer Date | 8/3/00 |
| Foreign Shares Offered | 0 | Filing Range | $14.00 - $16.00 |
| Company Shares | 5,000,000 | Offer Price | $17.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.190 |
| Gross Proceeds | $85,000,000 | Selling | $0.760 |
| Expenses | - - | Reallowance | - - |
| Post-IPO Shares | 19,762,989 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Morgan Stanley Dean Witter | Lead Manager | (212) 761-5900 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| 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 | 12/31/96 | 12/31/97 | 12/31/98 | 12/31/99 | 6/30/99 | 6/30/00 | |
| Revenues | - | 0.000 | 0.000 | 0.426 | 4.552 | 0.859 | 8.536 |
| Income from Oper. | - | -0.138 | 1.261 | -3.242 | -6.352 | -2.528 | -3.720 |
| Net Income | - | -0.140 | -1.264 | -3.152 | -6.441 | -2.653 | -3.523 |
| E.P.S | - | -0.060 | -0.250 | -0.620 | -1.250 | -0.520 | -0.670 |
| Revenue Growth (%) | - | - | - | 968.545 | 893.71 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -6.88 | -2.63 | -7.20 | ||||
| Cash Flow - Inv. | -0.93 | -0.44 | -1.30 | ||||
| Cash Flow - Fin. | 8.85 | 7.55 | 22.33 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 6/30/00 | Financial Ratios | ||||
| Total Assets | 32.64 | Current Assets | 30.00 | Current Ratio | 4.12 |
| Total Liab. | 9.14 | Current Liab. | 7.29 | Debt Ratio | 28.00% |
| Total Equity | 23.50 | Working Cap. | 22.71 | Debt to Equity Ratio | 0.39 |
| Cash | 14.98 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to repay a related party loan and to finance the continued growth of business and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Weil, Gotshal & Manges |
| Bank's Law Firm | Shearman & Sterling |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Apax Group | 13.27 | |
| HarbourVest International Private Equity Partners III-Direct Fund, L.P. | 10.61 | |
| Evergreen Group | 8.85 | |
| Tamar Group | 6.36 | |
| SVM Star Ventures Managementgesellschaft mbH No. 3 | 5.53 | |
| Gemini Group | 5.53 | |
| Note: represents ownership of 5% or more prior to the offering. | ||