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 : COM21 (CMTO) -- Ignore unavailable to you. Want to Upgrade?

To: pat mudge who wrote (312)	5/5/1999 7:53:00 PM
From: riposte	Read Replies (2) \| Respond to of 2347

COM21 $1 Million Buy into High Speed Access IPO Found @ biz.yahoo.com High Speed Access sets IPO at 13 mln shrs WASHINGTON, May 5 (Reuters) - Internet access provider High Speed Access Corp. has raised the expected value of its planned initial public offering by at least 20 percent, according to papers filed on Wednesday with federal securities regulators. In an amended IPO filed with the Securities and Exchange Commission, the Denver, Co.,-based company said it will offer up to 13 million common shares at an estimated initial price ranging from $11 to $13 per share, giving the deal a value of between $143 million and $169 million. When it first filed its IPO plan in March, High Speed Access pegged the value of the offering at about $120 million, although its preliminary filing disclosed neither the number of shares it planned to sell nor the expected price. High Speed Access, which provides high-speed Internet connections, said it has granted the offering's underwriters a 30-day over-allotment to purchase up to 1.95 million common additional shares. The offering will be made through Lehman Brothers, J.P Morgan & Co., Nationsbanc Montgomery Securities LLC and CIBC Markets. In addition to the shares offered, Cisco Systems Inc. (CSCO - news) has agreed to purchase $7.5 million of the common stock, Com21 Inc. (CMTO - news) has agreed to purchase $1 million of the common stock and Microsoft Corp. (MSFT - news) has agreed to purchase $10 million of the common stock, in a concurrent offering, the company said. Vulcan Ventures Inc., an affiliate of Microsoft co-founder Paul Allen, beneficially owns 54.2 percent of the common stock before the offering. Vulcan also owns Charter Communications Inc., one of the ten largest largest cable system operators in the country. Charter has agreed to provide High Speed Access with exclusive access to at least 750,000 homes passed by cable, and Vulcan has an equity incentive to cause Charter to provide the company up to an additional five million homes, the filing said. After the offering, the company's outstanding common stock will total 14,657,706 shares. Net proceeds will be used to fund operating losses and capital expenditures incurred in the deployment of its services, and for working capital and other general corporate purposes, it said.