Thermage Inc.

Hayward, Calif. • 510-782-2286 • www.thermage.com

Exchange and Ticker: Nasdaq: THRM

Filing Range: 6M shares at $11.00 to $13.00

Offering Price: $7.00

Close on First Day: $6.80

Close on 11/30/06: $6.9

Offering Size: $42M

Shares Outstanding: 22.4M

Underwriter: Merrill Lynch & Co. Inc.

Co-managers: Wachovia Securities Inc./CE Unterberg Towbin/Maxim Group LLC/Thomas Weisel Partners LLC

Company Counsel: Wilson Sonsini Goodrich & Rosati

Manager Counsel: Heller Ehrman LLP

Auditor: Pricewaterhouse Coopers LLP

Market Capitalization on 11/30/06: $153.5M

Description

Develops non-invasive cosmetic surgery products for wrinkle reduciton. The company is focused on developing a radio frequency based system and single-use disposable transducer to tighten and conform skin by thermal restruction of the dermal collagen matrix. The Thermage procedure is normally performed in a medical office setting as a single treatment that takes from 20 minutes to two hours, depending on the treatment area. The company’s competitors include Candela, Cutera, Cynosure, Lumenis, Palomar Medical Technologies and Syneron.

Venture Backers

Delphi Ventures, Draper Fisher Jurvetson ePlanet Ventures, Essex Woodlands Health Ventures, Institutional Venture Partners, Morgenthaler Ventures and Technology Partners.

Source: Thomson Financial