Middlesex, England

Went public 7/20/2000 at $15 per share

Filing Range: 5.5 mil. shares @ $12 to $14

Shares Outstanding: 33.8 mil. shares

Underwriters: Credit Suisse First Boston/Deutsche Banc Alex. Brown/Lehman Brothers/US Bancorp Piper Jaffray

Company Counsel: Preston Gates & Ellis LLP

Manager Counsel: Davis Polk & Wardwell

Auditor: Ernst & Young LLP

The Company:

Designs, manufactures and markets wireless local loop telecommunications and data communications equipment to address the last mile between a wired system and a subscriber. The company currently provides full 64kbps telephony, full basic rate ISDN, dedicated 128 kpbs data, supports multi-line applications and payphones, operates in several frequency bands, and offers a variety of interfaces to the public telephone network.

Venture Backers:

InterWest Partners

Oak Investment Partners

Meritech Capital Partners

Brentwood Venture Capital

Deutsche Bank AG

Weston Presidio Capital

Charles River Ventures

Sevin Rosen Management Co.

Venrock Associates

Hunt Financial Corporation

BCI Partners .

DSC Ventures

Rho Management

Seapoint Ventures

BancBoston Capital/BancBoston Ventures

SVM Star Ventures Management GmbH

Financing Rounds:

Number of Round Amt.

Round # Round Date Stage Investors ($ thousands)

1 01/26/1998 10 Expansion 30000.0

2 08/26/1998 10 Expansion 10000.0

3 11/04/1998 4 Expansion 30000.0

4 02/08/1999 1 Expansion 3725.0

5 11/15/1999 19 Expansion 50000.0


(Data in $ millions)



Total Revenues: $12.5

Net Income: -29.5