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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Rhythms NetConnections Inc.
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(Name of Issuer)
Common Stock, par value $0.001 per share
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(Title of Class of Securities)
762430 20 5
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(CUSIP Number)
April 12, 1999
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[X] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number.
Page 1 of 6 pages
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SCHEDULE 13G
CUSIP No. 762430 20 5
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1 NAME OF REPORTING PERSONS/
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Enron Corp. ..............................................................
Enron Broadband Services, Inc. ...........................................
Enron Communications Investments Corp. ...................................
G-Past, L.L.C. ...........................................................
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Enron Corp.-Oregon........................................................
Enron Broadband Services, Inc.-Oregon.....................................
Enron Communications Investments Corp.-Delaware...........................
G-Past, L.L.C.-Delaware...................................................
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5 SOLE VOTING POWER
NUMBER OF
0
SHARES -------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 5,393,258
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EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON ------------------------------------------------
8 SHARED DISPOSITIVE POWER
WITH
5,393,258
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,393,258
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10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
(See Instructions)
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.0%
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12 TYPE OF REPORTING PERSON (See Instructions)
CO
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Page 2 of 6 pages
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ITEM 1. (a) Name of Issuer:
Rhythms NetConnections Inc.
(b) Address:
6933 South Revere Parkway
Englewood, Colorado 80112
ITEM 2.
This Statement on Schedule 13G relates to the beneficial ownership of
shares of common stock, par value $0.001 per share ("Common Stock"), of Rhythms
Net Connections Inc., a Delaware corporation (the "Issuer"), which has its
principal executive offices at 6933 South Revere Parkway, Englewood, Colorado
80112.
ITEM 2. (a),(b),(c) NAMES OF PERSONS FILING; ADDRESS; CITIZENSHIP
Parties.
1. Enron Corp.
1400 Smith Street
Houston, Texas 77002
2. Enron Broadband Services, Inc.
1400 Smith Street
Houston, Texas 77002
3. Enron Communications Investments Corp.
1400 Smith Street
Houston, Texas 77002
4. G-Past, L.L.C.
1400 Smith Street
Houston, Texas 77002
ITEM 2. (d) TITLE OF CLASS OF SECURITIES:
Common stock, par value $0.001 per share
ITEM 2. (e) CUSIP NUMBER:
762430 20 5
ITEM 3.
Not applicable.
Page 3 of 6 pages
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Item 4. Ownership
The Issuer conducted its initial public offering in April 1999. At
that time, Enron Communications Investments Corp. ("Enron Communications"), a
wholly-owned subsidiary of Enron Broadband Services, Inc. ("EBS") owned
5,393,258 shares of the Issuer's Common Stock (the "Shares"). On December 21,
1999 Enron Communications transferred the Shares to G-Past, L.L.C. ("G-Past")
in exchange for the managing member interest in G-Past. The shares held by
G-Past represent 7.0% of the outstanding common stock of the Issuer.
Enron Corp. ("Enron"), EBS, a wholly-owned subsidiary of Enron Corp.,
and Enron Communications may be deemed to beneficially own the shares of
common stock held by G-Past. Enron, EBS and Enron Communications may be
deemed to share voting and dispositive power over the Shares. Enron, EBS and
Enron Communications each hereby disclaims beneficial ownership of the Shares
and the filing of this statement on Schedule 13G shall not be construed as an
admission that G-Past, EBS, Enron Communications, Enron or any person who is an
officer, director or manager of such entities, for the purposes of Section 13(d)
or 13(g) of the Act, is the beneficial owner of any securities covered by this
statement. All percentage ownership calculations utilized herein are calculated
in accordance with Rule 13d-3(d)(1)(i) and assume that 77,046,542 shares of
Common Stock are actually outstanding on the date of this statement.
For information with respect to each of the Reporting Persons, please
see the information set forth below:
(a). AMOUNT BENEFICIALLY OWNED
See cover pages Item 9.
(b). PERCENT OF CLASS:
See cover pages Item 11.
(c). NUMBER OF SHARES AS TO WHICH EACH OF THE MEMBERS OF THE GROUP
HAS:
(i) Sole power to vote or to direct the vote:
See cover pages Item 5.
(ii) Shared power to vote or to direct the vote:
See cover pages Item 6.
(iii) Sole power to dispose or to direct the
disposition of:
See cover pages Item 7.
(iv) Shared power to dispose or to direct the
disposition of:
See cover pages Item 8.
Page 4 of 6 Pages
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Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
Not Applicable
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON:
Not Applicable
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT
HOLDING COMPANY:
Not Applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
Not Applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
Not Applicable
ITEM 10. CERTIFICATION:
Not Applicable
Page 5 of 6 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 14, 2000
Enron Corp., an Oregon corporation
By: /s/ ANGUS H. DAVIS
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Name: Angus H. Davis
-----------------------------------
Title: Vice President and Deputy
Corporate Secretary
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Enron Broadband Services, Inc., an
Oregon corporation
By: /s/ ANGUS H. DAVIS
-------------------------------------
Name: Angus H. Davis
-----------------------------------
Title: Vice President and Secretary
----------------------------------
Enron Communications Investments Corp.,
a Delaware corporation
By: /s/ ANGUS H. DAVIS
-------------------------------------
Name: Angus H. Davis
-----------------------------------
Title: Vice President and Secretary
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G-Past, L.L.C.
By: Enron Communications Investments
Corp., its managing member
By: /s/ ANGUS H. DAVIS
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Name: Angus H. Davis
-----------------------------------
Title: Vice President and Secretary
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Page 6 of 6 pages
