Wednesday February 3, 6:09 pm Eastern Time
Company Press Release
WinStar Prices Common Stock Offering
NEW YORK--(BUSINESS WIRE)--Feb. 3, 1999--WINSTAR COMMUNICATIONS, INC. (NASDAQ:WCII - news) reported today it has priced its previously announced public offering of 4,200,000 shares of common stock at a price of $41.75 per share. This offering is being managed by Salomon Smith Barney Inc. and Credit Suisse First Boston Corporation. The company has granted the underwriters a 30-day option to purchase up to an additional 630,000 shares to cover any over-allotments. The net proceeds of the proposed offering will be used for the general development and growth of WinStar's operations, both domestically and abroad.
WinStar provides business customers with broadband communications services, including local and long distance voice service, high-speed data transport, Internet access and other enhanced communications and information services.
Copies of the prospectus relating to this offering may be obtained from Salomon Smith Barney Inc. at 388 Greenwich Street, New York, New York 10013 and Credit Suisse First Boston Corporation at Eleven Madison Avenue, New York, New York 10010.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state.
WinStar is a registered trademark of WinStar Communications, Inc.
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