Ravisent Technologies Inc. –

MALVERN, Pa. – Ravisent Technologies Inc., a digital video and audio stream management software developer, went public July 15, offering 5 million shares at $12 per share. The company’s stock priced in the middle of its $11 to $13 filing range.

Bear, Stearns & Co., SG Cowen and Volpe Brown Whelan & Co., underwrote the initial public offering, which left 15.5 million shares outstanding.

NEPA Venture Fund II, Atlantic Coastal Ventures, ATI Technologies Inc. and Patricof & Co. Ventures Inc. provided the company’s venture capital support. There were no selling shareholders.

Ravisent develops innovative modular software solutions that enable video and audio stream management in personal computer systems and consumer electronics devices. In addition, the company offers selected customers supporting hardware and provides customization services and customer support. These products support playback and recording of multi-media formats including DVD, HDTV, DBS and DVB.

Ravisent has had a net loss throughout its history, losing $13.6 million in 1998, $7.2 million in 1997 and $2 million in 1996. The company intends to use the estimated proceeds of $54.3 million from the offering for general corporate purposes.

Walter Threadgill, general managing partner of Atlantic Coastal, joined Ravisent’s board of directors in January 1998, followed in April 1998 by Paul Vais, managing director at Patricof. Peter Blumenwitz, assistant director of Apax Partners, and Frederick Beste, general partner of NEPA/Mid-Atlantic family of venture funds, joined the board in April.

Ravisent Technologies – Selected Financial

(in thousands, except per share data)

Year Ended December 31, Three Months Ended March 31,

1996 1997 1998 1998 1999

Revenue 4,195 6,821 30,288 3,143 10,812

Net income (loss) 2,055 -7,253 -13,683 -1,544 -310

Net income (loss) per share -1.19 -3.52 -4.94 -0.73 -0.18