HEARTLAND WIRELESS COMMUNICATIONS INC (HART) Message Board

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Microcap & Penny Stocks : HEARTLAND WIRELESS COMMUNICATIONS INC (HART)

HART 1.790

+8.5%

Mar 31 5:00 PM EST

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To: spy hard who wrote (11)	3/31/1999 2:06:00 PM
From: Laura E.	of 178

March 21, 03:48 Eastern Time Mar. 20 (Tulsa World/KRTBN)--Heartland Wireless Communications Inc., the Dallas-based cable television operator with viewers in Tulsa and 56 other markets, is emerging from bankruptcy with a court-approved plan that converts its outstanding debt into stock of the reorganized company, company executives said. Heartland, which filed for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code on Dec. 4, 1998, had its reorganization plan approved by the U.S. Bankruptcy Court for the District of Delaware. When the company emerges from Chapter 11 on April 1, its corporate name will be changed to Nucentrix Broadband Networks Inc. As disclosed in filings at the Securities and Exchange Commission, the reorganization plan provides for conversion of $325 million of senior and subordinated debt into 100 percent of the company's common stock. The company expects to emerge from Chapter 11 with about $12 million in net long-term debt relating to Federal Communications Commission spectrum licenses in more than 80 markets, and available cash of more than $25 million.

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