Sage Inc. –

SAN JOSE, Calif. – Sage Inc., a display processor company, went public November 11, offering 3 million shares at $12 apiece. The company’s stock priced well above its $8 to $10 filing range.

Underwritten by BancBoston Robertson Stephens & Co., Prudential Securities Inc. and Needham & Co. Inc., the initial public offering left 9.8 million shares outstanding.

There were no selling shareholders. Investar Group and Forefront Venture Partners L.P. were venture backers.

The company’s display processors digest signals entering the visual components of electronic devices such as PC monitors, flat-panel displays and television sets, projection devices, Internet appliances and touch screens. The company also offers circuit boards designed around its processors.

The $32.5 million shares expected to be generated from the IPO will be used for working capital expenditures and for general corporate purposes.

Sage has never generated a profit, losing $2.8 million in 1998 and $4.8 million in 1999.

No venture backers have joined the company’s board of directors to date.


Sage – Selected Financial

(in thousands, except per share data)

Six Months Ended

Year Ended March 31 September 30

1995 1996 1997 1998 1999 1998 1999

Total revenue 251 1,758 1,495 7,132 1,346 7,460

Net loss -57 -384 -708 2,775 -4,751 -2,616 -4,021

Net loss per share -0.04 -0.19 -0.32 -1.08 -2 -1.07 -1.36