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Technology Stocks : Frank Coluccio Technology Forum - ASAP -- Ignore unavailable to you. Want to Upgrade?

To: Frank A. Coluccio who wrote (1592)	5/11/2000 3:05:00 AM
From: Raymond Duray	Respond to of 1782

If'n this ain't OT, I dunno what is: I see the Gilded thread is still determined to lead us into the temptation of techological religious wars, spare us not from delirium, amen. I just drop in here now and then for a reality check... Sorry about that fogey comment, didn't realize you were the sensitif type... Heh, heh... I loved replanting jack bittner's Lucent comment along with the "religious follower" comment on the other Tickn010gee Fumarole* thread. Loved the guy/gal who got on and commented on how superior conservatives were with making money off'n tech. They did better with snake oil as well.... Oh well, Ry *Goodn' Greasy, As Stinky Asit aPpears

To: Frank A. Coluccio who wrote (1592)	5/11/2000 12:52:00 PM
From: Teddy	Read Replies (1) \| Respond to of 1782

Frank, you asked about Telergy the other day. This came out today. (I'll read the whole filing later, there should be some details about progress on the buildout.) Thursday May 11, 9:48 am Eastern Time Broadband services provider Telergy files $250 mln IPO WASHINGTON, May 11 (Reuters) - Telergy Inc., which offers traditional telecommunications services as well as enhanced services such as video storage and streaming, has filed to raise $250 million in an initial public offering. One of its biggest stockholders is Global Crossing Ltd. (NasdaqNM:GBLX - news), the Bermuda-based undersea fiber optic network builder. Global Crossing also has the right to designate a member to Telergy's board of directors. The board currently includes Frank Zaccanelli, a minority owner of the Dallas Mavericks, and Terence McAuliffe, one of President Clinton's biggest fund-raisers. The Syracuse, N.Y.-based company plans to use the net proceeds to further develop its network, which, by the end of 2001, is expected to be comprised of 586,000 fiber miles over 3,200 route miles extending from Washington to Montreal, a Securities and Exchange Commission filing on Wednesday said. Telergy also plans to use the proceeds for sales and marketing, working capital, capital expenditures, acquisitions and other general corporate purposes. It has applied for a Nasdaq listing under the symbol ``TLGY,'' and the IPO is being handled by Goldman Sachs, Merrill Lynch, Banc of America Securities, CIBC World Markets and RBC Dominion Securities. Telergy is offering Class A common stock. The exact number of shares, their price range and other information about the IPO were not disclosed in the preliminary SEC prospectus, but they are expected to be in future filings. The company's other common stock is class C, whose holders have 90,000 votes per share compared to the one vote per share that class A holders have. Telergy has agreements with Niagara Mohawk Power Corp. (NYSE:NMK - news), Consolidated Edison Co. of New York (NYSE:ED - news), New York State Electric and Gas and GPU Telcom Services Inc. giving the company last-mile access to nearly every customer and building in its region, including those in New York City. ``Our agreements with utilities allow us to build our network in a capital-efficient manner by significantly reducing the last-mile barriers to entry, construction time and associated costs,'' Telergy said. Telergy also has strategic relationships with MasTec North America Inc. (NYSE:MTZ - news), which provides network construction expertise, and Nortel Networks Corp. (Toronto:NT.TO - news), which offers advanced equipment, support services and vendor financing. Telergy is a development stage company which began operations in early 1996, and as of Dec. 31, 1999 posted an accumulated deficit of $112.1 million and a working capital deficit of $150.7 million.