Went public 3/3/2000 at $24 apiece
Filing Range:5 mil. shares @ $15 to $17
Shares Outstanding:30.76 mil. shares
Underwriters:Deutsche Banc Alex. Brown
Thomas Weisel Partners (co-lead)/Legg Mason Walker/Wit Soundview
(Data in $ millions)
Total Revenue $1.32 $9.64
Net Loss -1.16 -8.78
Register.com provides Internet domain name registration services worldwide. In June 1999, the company became the first registrar other than Network Solutions to register domain names in the .com, .net and .org domains. For the three months ended Dec. 31, 1999, Register.com registered about 308,000 domain names, up from 159,000 in the previous quarter. The company derives revenue from domain name registration fees, online products and services and advertising. In addition to domain name registration, the company also provides a variety of products and services, including e-mail, Web hosting, domain forwarding, which allows customers to forward traffic from their domain names to other Web addresses, real-time domain name management, which allows customers to view online and change, on an instantaneous basis, domain name information. For the three months ended December 31, 1999, its cost of revenues was $1.7 million while net loss totaled $1.0 million, representing a 51% increase and 61% decrease respectively for thsoe figures over the three months ended September 30, 1999. The company has never been profitable, and following the consumption of the offering, the existing stockholders will hold approximately 84% of outstanding common stock and will be able to control the election of directors and all other matters requiring stockholder approval.
Estimated net proceeds of $73.2 million will be used for general corporate purposes, including marketing, working capital, acquisitions and strategic investments.
Capital Express LLC, Internet Web Builders LLC, Staples Inc., Palisade Private Partnership LP, Cocentric Network Corp., Sandler Capital Management, Hikari Tsushin Inc., RDF Ventures LLC
Reginald Van Lee