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| Kyphon Inc. |
| 1350 Bordeaux Drive, Sunnyvale, CA 94089 * (408) 548-6500 |
| Business Description | We develop medical devices for orthopedic applications using our proprietary balloon technology. |
|
Filing Information Not yet | ||||
| To Trade As | KYPH (NASNTL) | Industry | Manufacturing (SIC 3841) | |
| Type of Stock Offered | Common Shares | Filing Date | 9/13/00 | |
| Domestic Shares Filed | 4,000,000 | Filing Range | $10.00 - $12.00 | |
| Foreign Shares Filed | 0 | Offering Amount | $44,000,000 | |
| Company Shares | 4,000,000 | Est. Expenses | - - | |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | 18,282,602 | |
| Employees | 116 | |||
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| U.S. Bancorp Piper Jaffray | Lead Manager | (612) 342-6220 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| Chase H&Q; | Co-manager | (415) 439-3626 |
| 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 | 12/31/97 | 12/31/98 | 12/31/99 | 6/30/99 | 6/30/00 | ||
| Revenues | - | - | 0.000 | 0.000 | 0.260 | 0.045 | 1.015 |
| Income from Oper. | - | - | -1.146 | -2.652 | -5.393 | -2.010 | -8.068 |
| Net Income | - | - | -1.144 | -2.643 | -5.171 | -1.908 | -7.808 |
| E.P.S | - | - | -715.990 | -14.110 | -12.960 | -5.900 | -8.150 |
| Revenue Growth (%) | - | - | - | - | 2,175.68 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -4.92 | -2.05 | -7.29 | ||||
| Cash Flow - Inv. | -1.55 | -4.38 | -20.14 | ||||
| Cash Flow - Fin. | 22.35 | 0.40 | 4.05 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 6/30/00 | Financial Ratios | ||||
| Total Assets | 24.50 | Current Assets | 22.39 | Current Ratio | 10.38 |
| Total Liab. | 40.37 | Current Liab. | 2.16 | Debt Ratio | 164.78% |
| Total Equity | -15.87 | Working Cap. | 20.23 | Debt to Equity Ratio | - |
| Cash | 0.63 | Return on Assets | - | ||
| Use Of Proceeds |
Of the net proceeds that we will receive from the offering, we expect to use approximately $20.0 million for sales and marketing initiatives to support the commercialization of the KyphX system, $3.0 million for support of outcome studies and reimbursement efforts and $4.0 million for product research and product development. We intend to use the remainder of the net proceeds for general corporate purposes. We may also use a portion of the net proceeds for potential strategic acquisitions and investments in third parties. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Bank's Law Firm | Cooley Godward Castro Huddleson & Tatum |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Warburg, Pincus Ventures, LP | 49.50 | |
| Investor (Guernsey) Ltd. | 15.00 | |
| Vertical Fund Associates, LP | 12.30 | |
| Note: represents ownership of 5% or more prior to the offering. | ||