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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): November 21, 2000
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ADVANCED RADIO TELECOM CORP.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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<S> <C> <C>
Delaware 000-21091 52-1869023
(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
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500 108th Avenue, NE, Suite 2600, Bellevue, Washington 98004
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER: (425) 688-8700
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N/A
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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ITEM 5. OTHER EVENTS
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BroadStream Loan
As previously disclosed by Advanced Radio Telecom Corp. (the "Company"), in
connection with the acquisition by the Company of 39 GHz licenses and other
assets of BroadStream Communications Corporation and its affiliates (together
with their successors "BroadStream"), the Company loaned approximately $13.0
million to BroadStream. BroadStream has not repaid this loan, which was due on
November 21, 2000, and has requested an extension of the repayment date. Amounts
borrowed are collateralized by a pledge of 3,895,801 of the shares of Company
common stock acquired by BroadStream in the transaction and bear interest at 10%
per annum. The Company is in discussions with BroadStream to determine what
steps the Company will take in connection with the payment default, including a
possible extension of the repayment date. The Company had previously disclosed
that it would be required to issue 416,667 additional shares of its common stock
to BroadStream in November 2000 if BroadStream was not in material breach of any
of its obligations. As a result of the payment default, the Company is not
required to issue those additional shares.
Bachow Option
The Company had previously disclosed that, in connection with its acquisition of
licenses from Bachow Communications Incorporated ("Bachow"), the Company also
obtained the right to acquire additional 39 GHz licenses acquired by Bachow in
the recent FCC auction or as a result of various pending applications in
exchange for Company common stock. The Company has determined not to exercise
this right.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ADVANCED RADIO TELECOM CORP.
Date: November 28, 2000 By: /s/ Thomas M. Walker
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Name: Thomas M. Walker
Title: Senior Vice President and
General Counsel
