Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: puborectalis who wrote (28848)	11/17/1999 8:25:00 AM
From: puborectalis	Respond to of 108040

Now that MCOM has secured the financing,we're on our way......Tuesday November 16, 8:36 am Eastern Time Company Press Release Metricom Closes Equity Funding from MCI WorldCom and Vulcan Ventures, Inc. Companies Close $600 Million Deal LOS GATOS, Calif.--(BUSINESS WIRE)--Nov. 16, 1999--Metricom, Inc. (Nasdaq:MCOM - news), a leading provider of mobile data networking and technology, today announced that its $600 million equity agreement with Vulcan Ventures, Inc. and MCI WorldCom has been finalized. With each providing $300 million, the partners' funding is expected to cover the initial rollout of its Ricochet 128 kbps mobile data service in major markets across the country, with the first wave of commercial availability scheduled for Summer 2000. Under the terms of the deal, MCI WorldCom and Vulcan Ventures, Inc. will purchase 60 million new convertible preferred shares of Metricom stock, priced at $10 per share. The new breakdown of Metricom ownership, as of Sept. 30, 1999 on a fully diluted basis, will include Vulcan Ventures, Inc. at 46 percent, MCI WorldCom at 35 percent, with the remaining 19 percent ownership held by other current public shareholders. Metricom will remain a publicly traded company headed by CEO Timothy A. Dreisbach.