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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
June 11, 1998
CONCENTRIC NETWORK CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 0-22575 65-0257497
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
10590 N. Tantau Avenue
Cupertino, California 95014
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code: (408) 342-2800
Not Applicable
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(Former name or former address, if changed since last report)
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This report is filed on behalf of Concentric Network Corporation.
ITEM 5. OTHER EVENTS.
On June 3, 1998, Concentric Network Corporation announced that it has
entered into an agreement to sell $150 million of 13 1/2% Senior Redeemable
Exchangeable Preferred Stock due 2010. Each share of Preferred Stock will have
a liquidation preference of $1,000 per share. This offering is being made
within the United States to qualified investors.
The Company intends to use the proceeds of the offering to fund
potential acquisitions and for working capital purposes.
This announcement is neither an offer to sell nor a solicitation to
buy any of these securities.
These securities have not been registered under the Securities Act of
1933, as amended (the "Securities Act"), or any state securities laws and,
unless so registered, may not be offered or sold in the United States except
pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable state securities
laws.
ITEM 7. EXHIBITS.
(c) Exhibits:
Exhibit
Number
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99.1 June 3, 1998 Press Release: Concentric Network Corporation
Announces Pricing of $150 Million Offering of 13 1/2% Senior
Redeemable Exchangeable Preferred Stock Due 2010
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated: June 11, 1998
CONCENTRIC NETWORK CORPORATION
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(Registrant)
By: /s/ Michael F. Anthofer
____________________________________
Name: Michael F. Anthofer
Title: Senior Vice President,
Finance and Chief Financial
Officer
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EXHIBIT INDEX
DESCRIPTION OF DOCUMENT
Exhibit
Number
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99.1 June 3, 1998 Press Release: "Concentric Network Corporation Prices
$150 Million Offering of 13 1/2% Senior Redeemable Exchangeable
Preferred Stock Due 2010
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EXHIBIT NUMBER 99.1
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Concentric Network Corporation Prices $150 Million Offering of 13 1/2% Senior
Redeemable Exchangeable Preferred Stock Due 2010
CUPERTINO, Calif. (June 3, 1998) - Concentric Network Corporation (NASDAQ:
CNCX) announced today that it has entered into an agreement to sell $150 million
of 13 1/2% Senior Redeemable Exchangeable Preferred Stock due 2010. Each share
of Preferred Stock will have a liquidation preference of $1,000 per share. This
offering is being made within the United States to qualified investors.
The Company intends to use the proceeds of the offering to fund potential
acquisitions and for working capital purposes.
This announcement is neither an offer to sell nor a solicitation to buy any
of these securities.
These securities have not been registered under the Securities Act of 1933,
as amended (the "Securities Act"), or any state securities laws and, unless so
registered, may not be offered or sold in the United States except pursuant to
an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act and applicable state securities laws.
About Concentric Network A leader in IP network innovation, Concentric
Network Corporation provides wide area intranets and extranets for the
enterprise. These high performance, secure, cost-effective and reliable IP-
based Virtual Private Network services connect enterprises with their remote
sites, mobile users, business partners and customers. For the consumer market,
Concentric Network offers a complete line of connectivity and hosting
products. The Concentric network architecture is based on "super" points of
presence (SuperPOPs), an advanced ATM backbone, and distributed data centers
which enable high functionality, low/fixed latency, high throughput and
superior reliability to support a wide range of applications. Traded on NASDAQ
under the symbol "CNCX," Concentric Network is headquartered in Cupertino,
Calif. For more information, access the company's Web site at
http://www.concentric.net or contact Katie Greene at 408/342-2885.
Concentric Network Corporation and the Concentric logo are trademarks of
Concentric Network Corporation. Other product names mentioned herein may be
trademarks and/or registered trademarks of their respective companies.
For more information contact:
Dave Griffeth
Concentric Network Corporation
408/342-2824
[email protected]
