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Technology Stocks : Paul Allen's Wired World
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To: PatrickMark who wrote (267)8/26/1999 1:11:00 PM
From: PatrickMark  Read Replies (1) of 361
 
It's possible that the $1B will be used in the Charter deal.

From the Charter S-1:

hbn.hoovers.com

VULCAN CABLE III INC. We refer to this company as Vulcan III. Mr. Allen,
through Vulcan III, has agreed to make an equity contribution of $1.325 billion
to Charter Holdco before September 1, 1999 for $ per membership unit.
In addition, Mr. Allen, through Vulcan III, has agreed to make a $750 million
contribution to Charter Holdco at the closing of the offering. He will pay a
purchase price per membership unit equal to the net initial public offering
price per share. Mr. Allen owns 100% of the equity of Vulcan III.

With IPO date of late September, and loan completion date of mid September (according to Bloomberg article), the timing would be about right.
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