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.

Technology Stocks : XO Communications (XOXO) -- Ignore unavailable to you. Want to Upgrade?

To: Ronald P. Margraf Sr. who wrote (878)	12/3/2001 10:54:23 PM
From: Softechie	Read Replies (1) \| Respond to of 1018

MCLD If all debtholders agree to this deal, they will all own common shares. This company will have little debts and actually be positive EBITDA in early 2002. The better common shares do the better debtholders will be. Not a bad thing if they can get debtholders to agree. The one that will win big is Teddy Forstman. Not a bad thing however. If it's selling at 0.10 cents tomorrow I think I'll get some.

To: Ronald P. Margraf Sr. who wrote (878)	12/3/2001 11:02:04 PM
From: yomaz	Read Replies (2) \| Respond to of 1018

Ron, My measly $500 LYING in XO is GONE. (IMO) After this STUNT by XO, any confidence I had left is also GONE, and I will sell at the first chance I get.. Care to BUY my remaining shares??. No hard feelings Ron, just messing with you...

To: Ronald P. Margraf Sr. who wrote (878)	12/3/2001 11:08:25 PM
From: Softechie	Read Replies (1) \| Respond to of 1018

MCLD Well they moved quick and swift! They all bought the deal. Monday December 3, 10:57 pm Eastern Time McLeodUSA Reaches Financing Deal McLeodUSA Reaches Recapitalization and Restructuring Agreements CEDAR RAPIDS, Iowa (AP) -- McLeodUSA Inc. [NasdaqNM:MCLD - news] reached an agreement with Forstmann Little & Co. and the McLeodUSA Secured Lenders on a recapitalization and financial restructuring plan that would provide money to pay off bonds. The plan, which is subject to agreement with the McLeodUSA bondholders and other security holders, would eliminate at least 95 percent of the Company's $2.9 billion of bond debt and $300 million of annual interest expense. ``Since announcing our revised business strategy to refocus McLeodUSA on its core business, we have made excellent progress,'' said Chris A. Davis, chief operating and financial officer, Monday. McLeodUSA is offering to pay at least $560 million in cash, plus approximately 14 percent of its common stock, for the bonds. Most of the cash will come from the sale of the McLeodUSA telephone directory publishing business to Forstmann Little for $535 million. Forstmann Little will provide $100 million to fund the balance of the cash being offered to bondholders and to provide additional working capital to the Company. Forstmann Little also has agreed to convert its existing preferred stock into common stock upon consummation of the recapitalization. After the closing of the transaction, Forstmann Little will own approximately 45 percent of the outstanding common equity of McLeodUSA. biz.yahoo.com