Bad Timing for todays news on PRTL
Friday September 10, 8:28 am Eastern Time
Company Press Release
PRIMUS Announces Public Offering of Common Stock
MCLEAN, Va.--(BUSINESS WIRE)--Sept. 10, 1999--PRIMUS Telecommunications Group, Incorporated (Nasdaq: PRTL - news) announced today that it has filed with the Securities and Exchange Commission a registration statement for a public offering of shares of PRIMUS common stock to be sold by the Company.
PRIMUS expects that the net proceeds of the offering will be $141.25 million ($162.625 million if the underwriters exercise their overallotment option in full). Lehman Brothers and Morgan Stanley Dean Witter will be lead underwriters and joint bookrunners for the offering.
PRIMUS is a full-service, facilities-based global communications company offering a bundled portfolio of international and domestic voice, data, and Internet services. The Company provides services through an extensive global network of owned and leased transmission facilities, including ownership interests in 23 undersea fiber optic cable systems, 19 international gateway and domestic switches, a satellite earth station and a variety of operating relationships that allow the Company to deliver traffic worldwide. Founded in 1994 and based in McLean, VA, PRIMUS currently serves over 1.7 million corporate, small- and medium-sized business, residential and telecommunication carrier customers located in North America, Europe and the Asia-Pacific region.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities nor shall there be any offer or sale of these securities in any state in which such offer or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
When available, a written prospectus relating to this offering and meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained from Lehman Brothers, 3 World Financial Center, New York, New York 10285 or Morgan Stanley Dean Witter, 1585 Broadway, New York, New York 10036.
Contact:
PRIMUS Telecommunications Group, McLean
Investor Contact
Jordan Darrow, VP, Investor Relations, 212/703-0116 |
