Went public 2/8/2000 at $10 apiece
Filing Range: 4 mil. shares @ $10 to $12
Shares Outstanding: 14.39 mil. shares
Underwriters: ING Barings
Soundview Technology Group/FAC/Equities/DLJdirect
(Data except per-share in $ thousands)
Y/E Y/E 9 MOS 9 MOS
12/97 12/98 9/98 9/99
Total Revenue $3,670 $6,125 $4,088 $6,563
Net Loss -322 -2,623 -639 -3,823
Net Loss Per Share -.03 -.25 -.07 -.39
Fastnet is an Internet service provider targeting small and medium sized enterprises in selected high growth markets in the mid-Atlantic area of the United States. The company has been providing Internet access services to its customers since 1994. Fastnet supplements its dedicated Internet access services with a comprehensive suite of enhanced products and services that are designed to increase its revenue per customer. Services provided include: Internet access; managed security, electronic protection for a customer’s computer network; Web hosting services; virtual private network, a secure seamless network connecting a company’s remote offices, employees and customers via Fastnet’s CC/vpn product; unified messaging, remote access to faxes, paging messages and e-mail messages through a single Internet application; and back-up and recovery services, Internet-enabled back-up and recovery services for a company’s data network through off-site data storage.
General corporate purposes, including the construction of additional CNFs in Fastnet’s target regions; the expansion of its sales and marketing capabilities and capital expenditures made in the ordinary course of business.
H&Q You Tools Investment Holding LP