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Registration No. 333-77757
Filed pursuant to Rule 424(b)(3)
PROSPECTUS SUPPLEMENT NO. 6
(TO PROSPECTUS DATED AUGUST 6, 1999)
$172,915,000
CNET NETWORKS, INC.
5% CONVERTIBLE SUBORDINATED NOTES DUE 2006
AND SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION OF THE NOTES
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This prospectus supplement supplements and amends the prospectus dated August 6,
1999, as supplemented and amended by prospectus supplement No. 1 dated September
30, 1999, prospectus supplement No. 2 dated October 13, 1999 ,supplement No. 3
dated November 12, 1999, Prospectus Supplement No. 4 dated November 22, 1999,
and Prospectus Suppelement No. 5 dated January 11, 2000 relating to the notes
and the common stock issuable upon conversion of the notes.
o Maturity Date: The notes are due on March 1, 2006.
o Interest: Interest on the notes is payable on March 1 and September 1
of each year at the rate of 5% per year, commencing on September 1,
1999.
o Conversion into common stock: You may convert the notes in whole or in
part into shares of our common stock at a conversion price of $37.40625
per share, subject to adjustment.
o Redemption: We may redeem the notes on or after March 6, 2002.
o Mandatory offer to repurchase: If we sell all or substantially all of
our assets or experience other kinds of changes in control, we must
offer to repurchase the notes.
o Ranking: The notes are general, unsecured obligations, junior in right
of payment to all of our existing and future senior debt and all
existing and future indebtedness and other liabilities of our
subsidiaries.
o Markets for our notes and our common stock: Our notes trade on the
Portal market. However, once the notes are sold under this prospectus,
they will no longer trade on the Portal market. Our common stock trades
on the Nasdaq National Market under the symbol "CNET". The last
reported sales price of our common stock on March 14, 2000, as reported
by Nasdaq, was $ 54.125 per share.
o Selling securityholders: The notes and common stock are being offered
for resale by the selling securityholders listed in this prospectus. We
will not receive any proceeds from these resales.
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THE PROSPECTUS, TOGETHER WITH THIS PROSPECTUS SUPPLEMENT NO. 5,
CONSTITUTES THE PROSPECTUS REQUIRED TO BE DELIVERED BY SECTION 5(b) OF THE
SECURITIES ACT OF 1933 WITH RESPECT TO OFFERS AND SALES OF THE NOTES AND SHARES
OF COMMON STOCK ISSUABLE UPON CONVERSION OF THE NOTES. ALL REFERENCES IN THE
PROSPECTUS TO "THIS PROSPECTUS" ARE HEREBY AMENDED TO READ "THIS PROSPECTUS (AS
SUPPLEMENTED AND AMENDED)".
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THIS INVESTMENT INVOLVES RISK. YOU SHOULD PURCHASE ONLY IF YOU CAN
AFFORD A COMPLETE LOSS OF YOUR INVESTMENT. SEE "RISK FACTORS" BEGINNING ON PAGE
6.
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NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES
COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS
PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A
CRIMINAL OFFENSE.
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The date of this prospectus supplement is March 16, 2000.
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The prospectus is hereby amended to add the following information to
the end of the section of the prospectus entitled "Selling Securityholders":
The information in the following table is as of January 7, 2000 and
assumes that no selling securityholder beneficially owns any shares of our
common stock other than shares issuable pursuant to the conversion of the notes.
In addition, the information in the table assumes the conversion of all notes
owned by each selling securityholder at the conversion price of $37.40625 per
share. This conversion price may be adjusted under some circumstances. As a
result, the number of shares issuable upon conversion of the notes may increase
or decrease. Under the terms of the indenture governing the notes, cash will be
paid instead of issuing fractional shares upon conversion. The selling
securityholders listed below provided us the information contained in the
following table with respect to themselves and the respective principal amount
of notes that may be sold by each of them under this prospectus. We have not
independently verified this information.
<TABLE>
<CAPTION>
PRINCIPAL AMOUNT
OF NOTES SHARES OF PERCENTAGE OF
BENEFICIALLY COMMON STOCK COMMON STOCK
NAME OF SELLING OWNED THAT PERCENTAGE OF THAT MAY BE OUTSTANDING
SECURITYHOLDER (1)(2) MAY BE SOLD NOTES OUTSTANDING SOLD(3) (4)(5)(6)
- ------------------------------- ---------------------- -------------------- --------------- ------------------
<S> <C> <C> <C> <C>
J.M. Hull Associates, L.P.......... $250,000 0.14% 6,684 *
BNP Arbitrage SNC.................. 6,000,000 3.47% 160,401 *
First Montauk Securities
Corp............................... 100,000 0.06% 2,673 *
</TABLE>
- -----------------------------
* Less than 1%.
(1) Except as otherwise set forth in the footnotes to this table, none of the
selling securityholders has, or within the last three years has had, any
position, office or other material relationship with us or any of our
predecessors or affiliates.
(2) No holder may offer notes pursuant to this prospectus until such holder
is named as a selling securityholder in this prospectus or in a
supplement to this prospectus.
(3) This number is the shares of common stock into which the notes held by
the selling securityholders are convertible at the conversion rate. The
conversion rate and the number of shares of common stock issuable upon
conversion of the notes are subject to adjustment under particular
circumstances. See "Description of the Notes - Conversion." Accordingly,
the number of shares of common stock issuable upon conversion of the
notes may increase or decrease from time to time. Fractional shares will
not be issued upon conversion of the notes. Instead, cash will be paid
instead of any fractional shares.
(4) This number assumes: (a) that the full amount of notes held by the
selling securityholder are converted into common stock at the conversion
rate and (b) the offering of such shares by such selling securityholder
pursuant to the registration statement of which this prospectus forms a
part. The conversion rate and number of shares of common stock issuable
upon conversion of the notes are subject to adjustment under particular
circumstances. See "Description of the Notes - Conversion." Accordingly,
the number of shares of common stock issuable upon conversion of the
notes may increase or decrease from time to time. Fractional shares will
not be issued upon conversion of the notes. Instead, cash will be paid
instead of any fractional shares.
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(5) As of January 7, 2000 there were 73,912,216 shares of our common stock
outstanding. In accordance with the rules of the SEC, the percentage of
common stock outstanding owned by each selling securityholder is
calculated as follows: (a) the numerator is the number of shares of
common stock held by that selling securityholder upon conversion of all
notes owned by that selling securityholder and (b) the denominator
includes the number of shares of common stock outstanding and the number
of shares of common stock held by that selling securityholder upon
conversion of all notes owned by that selling securityholder.
(6) None of the securityholders contained in this table were the
beneficial owners of more than 1% of the total common stock outstanding
as of March 15, 2000.
The selling securityholders identified above may have sold, transferred
or otherwise disposed of, in transactions exempt from the registration
requirements of the Securities Act of 1933, all or a portion of their notes
since the date on which the information in the preceding table is presented.
Information concerning the selling securityholders may change from time to time
and any such changed information will be set forth in supplements to this
prospectus if and when necessary. Because the selling securityholders may offer
all or some of the notes they hold or shares of common stock issuable upon
conversion of the notes pursuant to the offering contemplated by this
prospectus, no estimate can be given as to the amount of the notes or shares of
common stock that will be held by the selling securityholders upon the
termination of this offering. See "Plan of Distribution."
