Vonage 2008 Annual Report Download - page 31

PART II
ITEM 5
.
M
arket for Re
g
istrant’s
C
ommon Equity, Related
S
tockholde
r
M
atters and Issuer Purchases of Equity
S
ecuritie
s
Price Range of
C
ommon
S
toc
k
O
ur common stock has been listed on the New York
S
tock Exchan
g
e under the ticker symbol “V
G
” since May 24, 2006. Prior to
t
hat time, there was no public market
f
or our common stock. The
f
ollowing table sets
f
orth the high and low sales prices
f
or our com
-
m
on stock as reported on the NY
S
E for the quarterly periods indicated.
Price Range of Common Stock
g
High L
o
w
2008
F
ourt
h
quarte
r
$
1.32
$
0.5
7
Thi
r
d
quarte
r
$
1.96
$
0.9
0
Second quarter
$
2.05
$
1.6
6
Fi
rst quarte
r
$
2.43
$
1.69
2007
Fourth
q
uarte
r
$
2.70
$
0.9
6
T
hird
q
uarte
r
$
3.19
$
0.89
S
econd
q
uarter
$
4.43
$
2.83
First
q
uarte
r
$
7.01
$
2.98
H
o
l
de
r
s
A
t January 31, 2009, we had approximately 198 stockholders
o
fr
eco
r
d
. Thi
s
n
u
m
be
r
does
n
o
tin
c
l
ude be
n
e
fi
c
i
a
l
o
wn
e
r
s
wh
ose
s
h
a
r
es a
r
e
h
e
l
d
in
s
tr
ee
tn
a
m
e.
Divi
de
n
ds
W
e have never paid cash dividends on our common stock
,
and we do not anticipate paying any cash dividends on ou
r
co
mm
o
n
s
t
oc
kf
o
r
a
tl
eas
tth
e
n
e
xt 12 m
o
nth
s
.W
e
int
e
n
d
t
o
r
e
t
a
i
n
all o
f
our earnin
g
s, i
f
any,
f
or
g
eneral corporate purposes, and, i
f
a
pp
ro
p
riate, to finance the ex
p
ansion of our business
.
Use of Proceeds from Initial Public
O
ffering
O
n May 23, 2006, the
S
ecurities and Exchange
C
ommission
declared effective our Re
g
istration
S
tatement on Form
S
-1
(
Fil
e
No. 333-131659) relating to our IPO. After deducting underwritin
g
d
iscounts and commissions and other o
ff
ering expenses, our ne
t
p
roceeds from the offering equaled approximately $491,144
,
w
hich includes $1,896 of costs incurred in 2005. We hav
e
i
nvested the net proceeds o
f
the o
ff
ering in short-term, interest
b
earing securities pending their use to fund our expansion, includ-
i
n
g
fundin
g
marketin
g
expenses and operatin
g
losses. Except fo
r
p
ayments in connection with IP litigation settlements and debt
repayment, t
h
ere
h
as
b
een no mater
i
a
l
c
h
ange
i
n our p
l
anne
d
use
o
f proceeds from our IP
O
as described in our final prospectu
s
filed with the Securities and Exchange Commission pursuant t
o
Rule 424
(
b
)
. We did not use any of the net proceeds from the IP
O
until after the year ended December 31, 2006. Throu
g
h the yea
r
e
nded December 31, 2008, we used
$
418,881 of the net proceed
s
from the IPO to fund operating activities of
$
270,926 including
$212,225 for IP liti
g
ation settlements, $40,327 to pay noteholder
s
o
f our previousl
y
issued convertible notes,
$
26,799 for deb
t
related costs related to the Financing and
$
80,829 for capital
e
xpenditures, software development and patent purchases.
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