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) October 02, 1997
HYPERION TELECOMMUNICATIONS, INC.
(Exact name of registrant as specified in charter)
Delaware 333-06957 25-1669404
(State or other (Commission File Number) (IRS Employer
jurisdiction of incorporation) Identification No.)
Main at Water Street - Coudersport, PA 16915
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (814) 274-9830
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Item 5. Other Events
Hyperion Telecommunications, Inc. announced that it has sold $200,000,000
aggregate liquidation preference of 12-7/8% Senior Exchangeable Redeemable
Preferred Stock due 2007 (the "Senior Preferred Stock") primarily in reliance on
Rule 144A to "qualified institutional buyers". The press release related to such
announcement is filed hereto as Exhibits 99.01.
Item 7. Financial Statements and Exhibits
(c) The following exhibit is filed as part of this report on Form 8-K:
Exhibit 99.01 Hyperion Press Release issued October 2, 1997
SIGNATURE
Pursuant to the requirements of the Security Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: October 07, 1997 HYPERION TELECOMMUNICATIONS, INC.
(Registrant)
By: /s/Timothy J. Rigas
Timothy J. Rigas
Vice Chairman, Treasurer and
Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Description
Exhibit 99.01 Hyperion Press Release issued October 2, 1997
Exhibit 99.01
HYPERION ANNOUNCES PRIVATE PLACEMENT
OF SENIOR EXCHANGEABLE REDEEMABLE
PREFERRED STOCK
Coudersport, PA., October 2, 1997-- Hyperion Telecommunications, Inc. announced
that it has sold $200,000,000 aggregate liquidation preference of 12-7/8% Senior
Exchangeable Redeemable Preferred Stock due 2007 (the "Senior Preferred Stock")
primarily in reliance on Rule 144A to "qualified institutional buyers".
Hyperion intends to use the net proceeds from the sale of the Senior Preferred
Stock to fund the acquisition of increased ownership interests in certain of its
networks, for capital expenditures, including the construction and expansion of
new and existing networks, and for general corporate and working capital
purposes. The sale of Senior Preferred Stock is expected to close on or about
October 9, 1997.
The shares of Senior Preferred Stock have not been registered under the
Securities Act of 1933 and may not be offered or sold in the United States
absent registration or an applicable exemption from registration requirements.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of any securities referred to herein
in any state in which such offer, solicitation or sale would be unlawful.
Hyperion is a leading provider of competitive local telecommunications services
in regionally clustered markets primarily within the eastern half of the United
States. Hyperion is a subsidiary of Adelphia Communications Corporation
(NASDAQ-NNM:ADLAC), the seventh largest cable television operator in the United
States which currently owns or manages cable television systems serving
approximately 1.9 million subscribers in 12 states.
Contact: Timothy J. Rigas, Vice Chairman and Chief Financial Officer
(814)274-9830.
