REGISTER COM INC
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Filing Type: |
S-1/A |
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Description: |
Registration Statement |
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Filing Date: |
Mar 2, 2000 |
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Period End: |
N/A |
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Primary Exchange: |
NASDAQ - National Market
System |
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Ticker: |
RCOM |
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Table of Contents
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As filed with the Securities and Exchange
Commission on March 2, 2000.
Registration No.
333-93533
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--------------------------------------------------------------------------------
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C.
20549
---------------
Amendment
No. 5 to
FORM S-1
REGISTRATION
STATEMENT
UNDER
THE SECURITIES ACT
OF 1933
---------------
Register.com, Inc.
(Exact name of registrant as
specified in its charter)
Delaware 7379 11-3239091
(State
or other jurisdiction of (Primary
standard industrial (I.R.S.
employer
incorporation
or organization) classification code
number) identification number)
---------------
575 Eighth Avenue,
11th Floor
New York, NY
10018
Telephone: (212)
798-9100
(Address,
including zip code, and telephone number, including area code, of
registrant's principal
executive offices)
---------------
Richard D.
Forman
President and Chief
Executive Officer
Register.com,
Inc.
575 Eighth Avenue,
11th Floor
New York, NY
10018
Telephone: (212)
798-9100
(Name,
address, including zip code, and telephone number, including area code
of agent for service)
---------------
Copies to:
Alexander D. Lynch, Esq. Stacy J. Kanter, Esq.
Scott L. Kaufman, Esq. Skadden, Arps, Slate, Meagher &
Flom LLP
Brobeck,
Phleger & Harrison LLP
Four Times Square
1633 Broadway, 47th Floor New York, NY 10036
New York, NY 10019 (212) 735-3000
(212) 581-1600
---------------
Approximate date of commencement of
proposed sale to the public: As soon
as
practicable after the effective date of this Registration Statement.
If any of the securities being registered
on this Form are to be offered
on a
delayed or continuous basis pursuant to Rule 415 under the Securities Act
of
1933, check the following box. / /
If this Form is filed to register
additional securities for an offering
pursuant
to Rule 462(b) under the Securities Act, check the following box and
list
the Securities Act registration statement number of the earlier effective
registration
statement for the same offering. / / ________
If this Form is a post-effective amendment
filed pursuant to Rule 462(c)
under
the Securities Act, check the following box and list the Securities Act
registration
statement number of the earlier effective registration statement
for
the same offering. / / ________
If this Form is a post-effective
amendment filed pursuant to Rule 462(d)
under
the Securities Act, check the following box and list the Securities Act
registration
statement number of the earlier effective registration statement
for
the same offering. / / ________
If delivery of the prospectus is expected
to be made pursuant to Rule 434,
check
the following box. / /
---------------
CALCULATION OF
REGISTRATION FEE
===============================================================================================================
Proposed Maximum Proposed
Maximum
Title of Each Class of Amount to be Offering
Aggregate Amount of
Securities to be Registered Registered(1) Price Per Share (2)
Offering Price (2)
Registration Fee
----------------------------------------------------------------------------------------------------------------
Common
stock, par value $0.0001
per share .................... 5,750,000 $ 21.00
$120,750,000 $ 31,878(3)
===============================================================================================================
-----------
(1)
Includes 750,000 shares of common stock to cover the over-allotment option
granted to the underwriters.
(2)
Estimated solely for purposes of calculating the registration fee in
accordance with Rule 457(a).
(3)
Previously paid.
---------------
The Registrant hereby amends this
registration statement on such date or
dates
as may be necessary to delay its effective date until the Registrant
shall
file a further amendment which specifically states that this registration
statement
shall thereafter become effective in accordance with Section 8(a) of
the
Securities Act of 1933 or until the registration statement shall become
effective
on such date as the Securities and Exchange Commission, acting
pursuant
to said Section 8(a), may determine.
--------------------------------------------------------------------------------
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The
information in this preliminary prospectus is not complete and may be
changed.
We may not sell these securities until the registration statement
filed
with the Securities and Exchange Commission is effective. This
preliminary
prospectus is not an offer to sell and is not soliciting an offer
to
buy these securities in any jurisdiction where the offer or sale is not
permitted.
Subject
to Completion, Dated March 2, 2000
[GRAPHIC
OMITTED]
--------------------------------------------------------------------------------
Register.com, Inc.
5,000,000 Shares
Common Stock
--------------------------------------------------------------------------------
This is an initial public offering of common
stock of Register.com, Inc. We
anticipate that the initial public
offering price will be between $19.00 and
$21.00 per share.
We have applied to have our common stock
approved for quotation on The Nasdaq
National Market under the symbol
"RCOM."
Investing in our common stock involves risks.
See "Risk Factors" beginning on
page 8.
NEITHER THE SECURITIES AND EXCHANGE
COMMISSION NOR ANY STATE SECURITIES
COMMISSION HAS APPROVED OR DISAPPROVED OF
THESE SECURITIES OR DETERMINED OR
PASSED UPON THE ADEQUACY OR ACCURACY OF THIS
PROSPECTUS. ANY REPRESENTATION TO
THE CONTRARY IS A CRIMINAL OFFENSE.
Per Share Total
----------- --------
Public offering price $ $
Underwriting discounts and commissions $ $
Proceeds, before expenses, to
Register.com $ $
Proceeds, before expenses, to selling
stockholders $ $
The underwriters have the right to purchase
up to an additional 750,000 shares
from us and the selling stockholders at the
public offering price within 30
days from the date of this prospectus to
cover over-allotments. We will not
receive any of the proceeds from the sale of
shares by the selling
stockholders.
Deutsche Banc Alex. Brown Thomas Weisel
Partners LLC
Legg Mason Wood Walker
Incorporated
Wit
SoundView
The date of this prospectus is , 2000.
[Inside
Front Cover]
Internet
screen shot of Register.com home page.
"Value-Added
Products and Services" above six button links for online products
and
services featured on the Register.com website.
"Co-Branded
Websites" above the register.com and Net Objects logo taken from a
co-branded
website.
PROSPECTUS
SUMMARY
You should read the following summary
together with the more detailed
information
regarding our company and the common stock we are selling in this
offering,
including the risk factors and our financial statements and related
notes,
included elsewhere in this prospectus.
Register.com,
Inc.
Our
Business
We are a provider of Internet domain name
registration services worldwide.
Domain
names, such as mybrand.com, are the equivalent of addresses on the
Internet
and are registered through companies known as registrars. Domain names
serve
as part of the infrastructure for Internet communications and registering
a
domain name is one of the first steps for individuals and businesses seeking
to
establish an online identity. We believe that we offer a quick and
user-friendly
registration process and responsive and reliable customer
support.
We also offer a suite of value-added products and services targeted to
assist
our customers in developing and maintaining their online identities,
including:
Products and Services Products and Services
Provided by Us Provided by Others
o domain name forwarding, which o email
allows customers to link their new
domain names to their existing
websites
o real-time domain name management, o maintaining, storing and connecting
which allows customers to view websites to the Internet,
also
online and change, on an known as web hosting
instantaneous basis, domain name
information o website-creation tools
Our
goal is to become a one-stop resource through which our customers will
establish,
maintain and enhance their presence on the Internet.
In June 1999, we became the first
registrar other than Network Solutions,
Inc.
to register domain names in the .com, .net and .org domains directly on
behalf
of customers. For the three months ended December 31, 1999, we
registered
approximately 308,000 domain names in these domains, representing an
increase
of 94% over the approximately 159,000 domain names we registered in
these
domains for the three months ended September 30, 1999.
We face a number of risks that you should
consider before you decide to
buy
our common stock. These risks include, among other things, that we have
never
been profitable and anticipate incurring additional losses in the
foreseeable
future, that our accumulated losses totaled $12.2 million as of
December
31, 1999 and that, following the consummation of the offering, our
existing
stockholders will hold approximately 84% of our outstanding common
stock
and will be able to control the election of directors and all other
matters
requiring stockholder approval. In addition, we face substantial
competition
from Network Solutions in particular and in the industry in
general.
Based on its press release dated February 10, 2000,
3
Network
Solutions registered 1.6 million net new registrations in the .com,
.net
and .org domains for the three months ended December 31, 1999,
representing
approximately 71% of new registrations in these domains for the
period.
As of February 26, 2000, Network Solutions and 27 other registrars, not
including
us, were registering domain names in these domains. An additional 62
registrars
have been accredited to register but are not yet registering domain
names,
and 18 registrars have qualified to register domain names but have not
yet
signed the agreements required for registering domain names, in the .com,
.net
and .org domains.
We derive our revenues from domain name
registration fees, online products
and
services and advertising. Our net revenues increased 137% from $2.2 million
for
the three months ended September 30, 1999 to $5.2 million for the three
months
ended December 31, 1999. Our cost of revenues increased 51% from $1.1
million
for the three months ended September 30, 1999 to $1.7 million for the
three
months ended December 31, 1999. Our net loss decreased 61% from $2.5
million
for the three months ended September 30, 1999 to $1.0 million for the
three
months ended December 31, 1999.
Market
Opportunity
As a result of the growth of the Internet
and the introduction of
competition
into the domain name registration industry, we believe there is
great
potential for growth in the market for domain name registrations. We also
believe
that this growth will be driven by individuals' and businesses' desire
for
an online identity and brand, as well as the need to promote products,
services
and events. We estimate that growth in global domain name
registrations
will accelerate over the next few years from approximately 11
million
domain names registered through September 30, 1999 to approximately 140
million
domain names by the end of 2003, based on our internal calculations.
Our
Solution
Registration Services. Our core expertise
is providing domain name
registration
services. Domain names are generally classified according to
industry
custom either as "generic" for the .com, .net, .org, .gov, .edu and
.mil
domains or as "country code" if they are associated with a particular
country.
In addition, the domain name system is organized according to industry
custom
by levels so that, for example, in the domain name mybrand.com, .com is
the
top level domain and mybrand is the second level domain. We register domain
names
in the .com, .net and .org generic domains and are able to register
domain
names in over 140 country code domains, of which 26 may currently be
registered
directly through our www.register.com website.
In addition, through a dedicated team of
account managers, our Corporate
Services
department which targets the needs of corporate customers provides
domain
name registration and other services, such as multiple domain name
registrations
and international brand protection.
Online Products and Services. We have
assembled a suite of targeted
products
and services to assist our customers with their online identities,
including
email, web hosting and real-time domain management.
Customer Service. Our customer support
group seeks to provide dependable
and
timely resolution of customer inquiries, 24 hours per day, seven days per
week.
We manage and respond to customer inquiries through our internally
developed
Internet-based customer care tracking system. We have teams of
customer
service representatives who specialize in key aspects of our business,
and
who are informed about our products, services and technology through our
ongoing
training.
Distribution. We believe that our direct
and indirect distribution
channels
enable us to reach a broad range of potential customers with products
and
services targeted to their needs and to increase our exposure across the
market.
We provide our products and services
4
directly
to our customers through our www.register.com website as well as
through
our Corporate Services department. We also offer domain name
registration
services indirectly through our network of co-brand and private
label
websites, which include Internet service providers, also known as ISPs,
web-hosting
companies and other companies whose websites may appeal to our
target
customers. A co-brand network participant offers our domain name
registration
services through a website similar in appearance to our
www.register.com
website, but branded with the participant's and our logos. A
customer
typically accesses a co-brand website through the participant's home
page.
A co-brand website also typically provides links back to the
participant's
website to facilitate the sale of products and services by the
participant.
A private label network participant offers our domain name
registration
and other services through a website of its own design but the
actual
domain name registrations are processed through our systems. Private
label
websites may also include the language "powered by register.com."
Our
Strategy
Our objectives are to continue to
increase our share of domain name
registrations,
to differentiate our products and services and to develop
long-term
relationships with our customers by helping them to establish,
maintain
and enhance their online presence. Our key strategies for achieving
these
objectives include:
o introducing new products and services,
including the following that we
anticipate introducing this year:
o billing consolidation for
registrants with multiple domain names
o account masking, to allow the
domain name registrant to remain
anonymous
o a service designed to monitor
usage of our customer's trademarks
on the Internet
o enhancing awareness of our brand;
o extending our distribution channels;
o expanding our Corporate Services
department;
o pursuing strategic acquisitions;
o offering names in additional domains;
and
o expanding internationally.
Our
History
We were founded by Richard D. Forman,
Peter A. Forman and Dan B. Levine as
Forman
Interactive Corp., a New York corporation, on November 23, 1994. Forman
Interactive
merged with and into Register.com, Inc., a Delaware corporation, on
June
23, 1999. Our principal executive offices are located at 575 Eighth
Avenue,
11th Floor, New York, New York 10018. Our telephone number at that
location
is (212) 798-9100. References in this prospectus to "Register.com,"
"we,"
"our" and "us" refer to Register.com, Inc. and Forman
Interactive.
--------------------
We maintain a corporate website at
www.register.com. The contents of our
website
are not part of this prospectus.
5
The Offering
Common
stock offered by Register.com ...................... 5,000,000 shares
Common
stock to be outstanding after the offering ......... 30,759,380 shares
Use
of proceeds ........................................... We plan to use the proceeds from