From SEC S1 6/22/99 -Shareholders before and after the offering & other stuff.
Manny you going to have a go at it or not?
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Excerpts from SEC S1 filing dated 6/22/99. (Important information)
This is an initial public offering of shares of common stock of E-LOAN, Inc. Of the 3,500,000 shares of common stock being offered, 3,495,000 shares are being sold by E-LOAN and 5,000 shares are being sold by a selling stockholder, the E-LOAN Foundation, a charitable foundation established by E-LOAN and administered by the Community Foundation Silicon Valley. See "Principal and Selling Stockholders". E-LOAN will not receive any of the proceeds from the sale of the shares being sold by the selling stockholder.
Immediately following and conditioned upon the closing of the initial public offering, E-LOAN will sell to Forum Holdings, Inc. in a private placement additional shares of common stock valued at $12,500,000 based on the initial public offering price less the underwriting discount.
At the request of E-LOAN, the underwriters have reserved, at the initial public offering price, up to 300,000 shares of common stock for sale to individuals designated by E-LOAN who have expressed an interest in purchasing shares in the offering.........
REVENUES
Revenues increased sequentially each quarter throughout 1998 from $0.5 million to $3.0 million and increased $1.8 million from the fourth quarter to $4.8 million for the three months ended March 31, 1999. Substantially all of these increases resulted from growth in the number of loans closed and the initiation of E-LOAN's loan origination and sale operations in June 1998. E-LOAN did not significantly change its pricing during 1998 or the first quarter of
1999. E-LOAN expects that the rate of its revenue growth in future periods will decline from the rates of revenue growth experienced in recent quarters. In particular, E-LOAN expects that its revenues for the quarter ending June 30, 1999 will be lower than or flat relative to the first quarter of 1999. Recent increases in interest rates have reduced the number of refinancing applications received by E-LOAN, which has reduced the number of loans E-LOAN expects to originate. In addition, a significant increase in the number of purchase loan applications, which take substantially longer to close relative to refinancing loan applications, also will contribute to lower loan volumes and, therefore, lower revenues in the quarter ending June 30, 1999, as compared to the first quarter of 1999. E-LOAN expects revenues derived from its loan origination and sale operations to continue to increase as a percentage of its total revenues.
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DISTRIBUTION BY STATE OF E-LOAN'S LOAN ORIGINATIONS
<TABLE>
<CAPTION>
1998 FIRST QUARTER 1999
------------------------------- -------------------------------
NUMBER OF PERCENT OF TOTAL NUMBER OF PERCENT OF TOTAL
STATE CLOSED LOANS CLOSED LOANS CLOSED LOANS CLOSED LOANS
----- ------------ ---------------- ------------ ----------------
<S> <C> <C> <C> <C>
California........... 3,223 83% 1,636 69%
Washington........... 218 6% 140 6%
Texas................ 86 3% 94 4%
Colorado............. 64 2% 61 3%
All Others........... 274 6% 440 18%
----- --- ----- ---
Total...... 3,865 100% 2,371 100%
Funding Sources
...the funding sources available to E-LOAN under each of its
current warehouse credit facilities and its agreement with Greenwich Capital are as follows:
<S> <C>
Greenwich Capital...................... $100 million
Bank United............................ $ 40 million
GE Capital............................. $ 25 million
PERCENTAGE OF
SHARES
BENEFICIALLY
OWNED
SHARES NUMBER -------------------
BENEFICIALLY OF SHARES PRIOR TO AFTER
NAME OF BENEFICIAL OWNER OWNED BEING OFFERED OFFERING OFFERING
------------------------ ------------ ------------- -------- --------
<S> <C> <C> <C> <C>
Benchmark Capital Partners II L.P.(1)...... 8,061,360 -- 23.9% 20.9%
Robert C. Kagle
Entities affiliated with Technology
Partners(2).............................. 4,666,641 -- 13.8% 12.1%
Ira M. Ehrenpreis
Entities affiliated with STV IV, LLC(3).... 3,304,590 -- 9.8% 8.6%
Chris Larsen(4)............................ 5,555,121 -- 16.5% 14.4%
Janina Pawlowski(5)........................ 5,511,927 -- 16.3% 14.3%
Doug Galen(6).............................. 185,625 -- * *
Steve Majerus(7)........................... 65,625 -- * *
Tim Koogle(8).............................. 971,607 -- 2.9% 2.5%
Wade Randlett.............................. 1,500 -- * *
The E-LOAN Foundation(9)................... 75,000 5,000 * *
All directors and executive officers as a
group (15 persons)(10)................... 25,345,531 -- 75.1% 65.9%
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