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| EXACT Corporation |
| 63 Great Road, Maynard, MA 01754 * (978) 897-2800 |
| Business Description | The company has developed proprietary technologies in applied genomics that we believe will revolutionize the early detection of colorectal cancer and several other types of common cancers. |
| Offering Information Company has | |||
| Trading As | EXAS (NASNTL) | Industry | Service (SIC 8731) |
| Type of Stock Offered | Common Shares | Filing Date | 10/27/2000 |
| Domestic Shares Offered | 4,000,000 | Offer Date | 1/30/2001 |
| Foreign Shares Offered | 0 | Filing Range | $14.00 - $16.00 |
| Company Shares | 4,000,000 | Offer Price | $14.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.980 |
| Gross Proceeds | $56,000,000 | Selling | $0.580 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 18,511,884 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| CIBC World Markets | Co-manager | (212) 667-7400 |
| Thomas Weisel Partners LLC | Co-manager | (415) 364-2500 |
| 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 | 12/31/1997 | 12/31/1998 | 12/31/1999 | 6/30/1999 | 6/30/2000 | ||
| Revenues | - | - | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 |
| Income from Oper. | - | - | -2.037 | -4.021 | -5.263 | -2.567 | -4.391 |
| Net Income | - | - | -1.883 | -3.578 | -4.964 | -2.389 | -3.900 |
| E.P.S | - | - | -29.430 | -16.730 | -14.570 | -8.270 | -10.830 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -2.20 | -2.80 | -12.89 | ||||
| Cash Flow - Inv. | -0.59 | -0.41 | -2.36 | ||||
| Cash Flow - Fin. | 17.00 | 31.81 | 47.41 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 6/30/2000 | Financial Ratios | ||||
| Total Assets | 33.64 | Current Assets | 32.23 | Current Ratio | 61.13 |
| Total Liab. | 0.53 | Current Liab. | 0.53 | Debt Ratio | 1.57% |
| Total Equity | 33.11 | Working Cap. | 31.70 | Debt to Equity Ratio | 0.02 |
| Cash | 32.16 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for clinical studies and trials, research and development activities, working capital and other general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Testa, Hurwitz & Thibeault |
| 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 |
| The OneLiberty Fund Entities | 18.00 | |
| Greylock Equity Limited Partnership | 15.30 | |
| The Highland Capital Partners Entities | 11.40 | |
| Note: represents ownership of 5% or more prior to the offering. | ||