Knology: data bucks rising at Verizon: overbuilder, planning $86.3M IPO, spells out operating facts at former GTE cable systems.(Finance)(Knology Inc. plans its initial public offering)
Multichannel News, November, 2003 by Farrell, Mike
Overbuilding MSO Knology Inc. still hasn't set a date for its planned $86.3 million initial public offering, but it has disclosed more about its pending purchase of cable systems in Florida and California.
Knology agreed to buy Verizon MediaVentures' cable systems in Pinellas County, Fla., and Cerritos, Calif., in July. The deal is expected to close by year-end.
According to a new proxy statement filed with the Securities and Exchange Commission, Knology will pay about $9.4 million in cash and assume about $8 million in debt.
Also, according to the proxy, Knology will issue warrants for about 1 million shares of stock to "a prior prospective purchaser" of the Verizon systems for release of its exclusivity rights, worth an estimated...
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