INIT- a competitor IPOs tomorrow. IF Digex does well it will be good for the sector. Bear Stearns priced Digex's (DIGX:Nasdaq) 10 million-share IPO top-range at $17. The company, a spin-off of Intermedia Communications (ICIX:Nasdaq), helps companies to run Web sites.
Provider of Internet hosting services to businesses and institutions implementing complex, interactive Web sites and Web-based applications.
CEO: Mark K. Shull
CFO: Bradley E. Sparks
Filed on: 4/27/99
Ticker: DIGX
Price: $17
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SIC 4813
State of Incorporation DE
Employees, Full-time|Part-time 436
Fiscal Year-End 12/31
Revenue $22.6 Mln (FY 98)
Net Income $(16.6 Mln)
Lead Underwriter BEAR STEARNS & CO INC
Est. Offering Amount 184000000
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RECENT NEWS
7/29/99 The company priced at $17 for trading next day.
7/26/99 The company added DLJDirect to underwriter list.
7/12/99 The company set its price to $14-$16 and set its number of shares to 10,000,000.
4/27/99 The company filed for IPO.
Principal Shareholders
PRINCIPAL STOCKHOLDERS
The following table provides information regarding:
. beneficial ownership of our common stock by each person or entity known
to us to be a beneficial owner of more than 5% of the outstanding shares
of our common stock, as of July 12, 1999;
. beneficial ownership of our common stock by each of our directors and
named executive officers, as of July 12, 1999; and
. beneficial ownership of our common stock by all of our directors and
executive officers as a group, as of July 12, 1999.
Percentage
Percentage of Class of Voting Power
Beneficially Owned of Common Stock
---------------------- -----------------
Number of
Shares
Securities Beneficially Before After Before After
Beneficial Owner Owned Owned Offering Offering Offering Offering
---------------- ------------ ------------- --------- --------- -------- --------
Principal Stockholders:
Intermedia Class B
Communications Inc. Common Stock
3625 Queen Palm Drive 50,000,000(1) 100.0% 100.0% 100.0% 98%
Tampa, Florida 33619
Directors and Executive Officers:
David C. Ruberg None -- -- -- -- --
Mark K. Shull None -- -- -- -- --
Nancy G. Faigen None -- -- -- -- --
Rebecca Ward None -- -- -- -- --
Bryan T. Gernert None -- -- -- -- --
Bradley E. Sparks None -- -- -- -- --
Robert B. Patrick None -- -- -- -- --
John C. Baker None -- -- -- -- --
Philip A. Campbell None -- -- -- -- --
George F. Knapp None -- -- -- -- --
Pierce J. Roberts, Jr. None -- -- -- -- --
All directors and executive
officers as a group (12
persons) None -- -- -- -- --
--------
(1) Gives effect to the 50,000-for-one stock split of our Class B Common Stock
to be effected prior to the closing of this offering. These shares are
owned by Intermedia through its wholly-owned subsidiary, Business Internet,
Inc.
The following table provides information regarding:
. those persons or groups known to us to be the beneficial owners of more
than five percent of the common stock of our parent, Intermedia;
. beneficial ownership of common stock of our parent, Intermedia, by each
of our directors and named executive officers, as of July 12, 1999; and
. beneficial ownership of common stock of our parent, Intermedia, by all of
our directors and executive officers as a group, as of July 12, 1999.
The percentage of Intermedia common stock beneficially owned was calculated
based on 50,212,682 shares outstanding on July 12, 1999.
Percentage of
Common Stock
Beneficially
Number of Owned
Shares -----------------
Beneficially Before After
Beneficial Owner Securities Owned Owned Offering Offering
---------------- ----------------------- ------------ -------- --------
Putnam Investments, Inc. Intermedia common stock 5,457,330(1) 10.9% 10.9%
One Post Office Square
Boston, MA 02109
Massachusetts Financial Services Corp. Intermedia common stock 5,038,416(2) 10.0% 10.0%
500 Boylston Street
Boston, MA 02116
FMR Corp. Intermedia common stock 3,614,382(3) 7.2% 7.2%
82 Devonshire Street
Boston, MA 02109
Wellington Management Co. LLP Intermedia common stock 3,539,023(4) 7.0% 7.0%
75 State Street
Boston, MA 02109
Franklin Resources Inc. Intermedia common stock 2,694,280(5) 5.4% 5.4%
777 Mariners Island Blvd.
San Mateo, CA 94404
American Express Co. Intermedia common stock 2,502,648(6) 5.0% 5.0%
200 Vesey Street
New York, NY 10285
T. Rowe Price and Associates, Inc. Intermedia common stock 2,457,379(7) 4.9% 4.9%
100 E. Pratt St.
Baltimore, MD 21202
Directors and Executive Officers:
David C. Ruberg Intermedia common stock 1,018,169(8) 2.0% 2.0%
Mark K. Shull Intermedia common stock 3,334(9) * *
Nancy G. Faigen Intermedia common stock 13,333(10) * *
Rebecca Ward Intermedia common stock 1,667(11) * *
Bryan T. Gernert Intermedia common stock 29,960(12) * *
Bradley E. Sparks None -- -- --
Robert B. Patrick Intermedia common stock 5,663(13) * *
John C. Baker Intermedia common stock 79,820(14) * *
Philip A. Campbell Intermedia common stock 26,000(15) * *
George F. Knapp Intermedia common stock 55,100(16) * *
Pierce J. Roberts, Jr. Intermedia common stock 47,108(17) * *
All directors and executive officers
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