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) February 25, 1999
HYPERION TELECOMMUNICATIONS, INC.
(Exact name of registrant as specified in charter)
Delaware 000-21605 25-1669404
(State or other (Commission File Number) (IRS Employer
jurisdiction of incorporation) Identification No.)
Main at Water Street - Coudersport, PA 16915-1141
(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
On February 25, 1999, Hyperion Telecommunications, Inc. announced the
private placement $200 million of Senior Subordinate Notes due 2007 (the "Senior
Subordinate Notes") principally in reliance on Rule 144A to Qualified
Institutional Buyers and $100 million of such Notes to entities controlled by
members of the immediate family of John J. Rigas in a press release which is
attached hereto as Exhibit 99.01 and incorporated by reference herein.
Item 7. Financial Statements and Exhibits
Exhibit No. Description
99.01 Press release dated February 25, 1999
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: March 10, 1999 HYPERION TELECOMMUNICATIONS, INC.
(Registrant)
By: /s/Timothy J. Rigas
Timothy J. Rigas
Vice Chairman, Treasurer and
Chief Financial Officer
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
99.01 Press release dated February 25, 1999
<PAGE>
EXHIBIT 99.01
Contact Information:
Timothy J. Rigas
Hyperion Communications
814-274-9830
FOR IMMEDIATE RELEASE
HYPERION COMPLETES PRIVATE PLACEMENT OF
$300 MILLION OF SENIOR SUBORDINATED NOTES
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COUDERSPORT, Pa., February 25, 1999 -- Adelphia Communications Corporation
(NASDAQ: ADLAC) and its subsidiary, Hyperion Telecommunications, Inc. (NASDAQ:
HYPT), announced today that Hyperion has sold an aggregate of $300 million of 12
% Senior Subordinated Notes due 2007. Hyperion has sold $200 million of the 12%
Senior Subordinated Notes principally to qualified institutional buyers in
reliance on Rule 144A and $100 million of the 12% Senior Subordinated Notes to
entities controlled by members of the immediate family of John J. Rigas.
Hyperion intends to use the net proceeds from the $300 million offering to fund
its acquisition of interests held by local partners in certain of its networks,
for capital expenditures and investments in its networks, for working capital
purposes and for general corporate purposes.
The 12% Senior Subordinated Notes due 2007 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 majority owned subsidiary of Adelphia that provides integrated
communications services to business customers through its state-of-the-art fiber
optic communications network.
