IPOs IN REGISTRATION – Fogdog Inc. –

REDWOOD CITY, Calif. – Fogdog Inc., a sporting goods e-tailer, went public December 9, offering 6 million shares at $11 apiece. The company’s stock priced above its $8 to $10 filing range.

Credit Suisse First Boston, J.P. Morgan & Co., Thomas Weisel Partners LLC and Warburg Dillon Read LLC underwrote the initial public offering, which left 35.7 million shares outstanding.

There were no selling shareholders. J.H. Whitney & Co., Draper Fisher Jurvetson, Nike USA Inc., Sprout Group, Marquette Venture Partners and Venrock Associates were venture backers.

The company sells more than 500 brands of apparel, footwear and equipment. Nike USA Inc. allowed Fogdog to sell its full product line in exchange for warrants to buy 10% of the company.

The $59.9 million in proceeds expected from the IPO will be used for general corporate purposes, including marketing and sales, working capital and capital expenditures.

Fogdog has never generated a profit, losing $1 million in 1997 and $4.1 million in 1998.

Ray Rothrock, a general partner at Venrock, joined the company’s board of directors in March 1999, together with Lloyd Ruth, a partner at Marquette. Warren Packard, a director at DFJ, joined the board in June 1999. Peter Huff, a managing director at J.H. Whitney, joined the company’s board of directors in August 1999.


Fogdog – Selected Financial

(in thousands, except per share data)

Year Ended December 31 Nine Months Ended September 30

1996 1997 1998 1998 1999

Total revenue 677 1,041 765 516 2,577

Net loss 469 1,045 4,120 1,883 15,136

Net loss per share -0.13 -0.23 -0.95 -0.43 -6.04