RCN Corp. (RCNC) - Voice-Video-Internet Message Board

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Technology Stocks : RCN Corp. (RCNC) - Voice-Video-Internet

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To: SecularBull who wrote (391)	5/10/1999 7:57:00 PM
From: SteveG	Read Replies (1) of 720

RCN Begins Offering -2: 1.2M Shares For Overallotments >RCNC PRINCETON, N.J. (Dow Jones)--RCN Corp. (RCNC) began its public offering of 8 million shares. In a press release Monday, RCN said it expects to sell all of the shares, and underwriters have an option to purchase 1.2 million additional shares for overallotments. RCN has 66 million outstanding shares. Nasdaq-listed shares of RCN traded Friday at 45 1/2, up 7/8 or 2% on volume of 208,400 shares. Average volume is 691,553 shares. RCN sells bundled communications services. A spokesman for RCN Corp. (RCNC) said the company plans to use proceeds from its public offering to develop its fiber optic network and for other general corporate purposes. (END) DOW JONES NEWS 05-10-99 05:32 PM (proceeds wil be used to fund west coast build as east coast is already funded)

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