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Technology Stocks : Digital Island,Inc - (Nasdaq- ISLD) -- Ignore unavailable to you. Want to Upgrade?

To: GST who wrote (1598)	4/11/2000 10:33:00 PM
From: GraceZ	Read Replies (1) \| Respond to of 1884

RECENT FINANCING Digital Island recently completed a follow-on equity offering of 5 million shares comprising 3.85 million primary and 1.15 million secondary shares. The offering priced at $107 per share and generated net proceeds to Digital Island of roughly $385 million. Along with the follow-on equity offering, Digital Island offered $300 million in convertible subordinated debt. The terms of the convertible debt are five-year duration with a three-year non-call provision and 6% coupon rate. With roughly $700 million from its recent financing, we estimate Digital Island is financed through 2002. With a strong cash position, we believe Digital Island is well positioned to execute its planned deployment of 5,000 servers across 350 metropolitan areas by 2002 and to fund its global expansion into additional countries from its current 21 country presence.