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Revision History For: ITC^DeltaCom (ITCD)

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IPO today, 5mm shares at $16.50. Southeast fiber network (6,000 miles, 3,000 owned), CLEC, wholesale long haul carrier, etc. 60 POPs in 10 states. Lead by Morgan Stanley etc.

Read the prospectus, but the people behind this have an excellent track record in building communications businesses including Telecom*USA which was sold to MCI in 1990. Backers ITC Holdings also largest shareholder of MindSpring (MSPG). Valuation? Let's just say they timed this offering well to benefit from market's willingness to pay up for like companies. Not trading yet as of 10AM

RDB