SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) ofthe
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 12, 1999
PATHNET, INC.
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(Exact name of registrant as specified in its charter)
Delaware 333-52247 52-1941838
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(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification Number)
1015 31st Street NW
Washington, DC 20007
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(Address of principal executive offices)
Registrant's telephone number, including area code: (202) 625-7284
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ITEM 5. OTHER EVENTS
MANAGEMENT AND PERSONNEL CHANGES.
On February 12, 1999, the Company announced that David Schaeffer would no longer
serve as Chairman of the Board or Treasurer of the Company. The Company also
announced that William R. Smedberg, currently the Vice President, Finance and
Corporate Development, will replace Mr. Schaeffer as Treasurer.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits:
99.1 Press Release - Pathnet Announces Management Change.
2
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SIGNATURES
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.
PATHNET, INC.
Dated: February 12, 1999 By:/s/ William R. Smedberg, V
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Name: William R. Smedberg, V
Title: Vice President,
Finance and Corporate Development
<PAGE>
EXHIBIT INDEX
PATHNET, INC.
Current Report on Form 8-K
Exhibit No. Description
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Exhibit 99.1 Press Release - Pathnet Announces Management Change.
Exhibit 99.1
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FOR IMMEDIATE RELEASE
CONTACT:
Kye Presley-Dowd
Media Relations
Pathnet
(202) 295-3286
[email protected]
Becky Haight
Investor Relations
Pathnet
(877) 227-5600
[email protected]
PATHNET ANNOUNCES MANAGEMENT CHANGE
WASHINGTON, D.C., February 12, 1999 - Pathnet, Inc., a privately held "carrier's
carrier" of digital telecommunications capacity to under-served and second- and
third-tier U.S. markets, announced today that the company's founder David
Schaeffer will no longer serve as Chairman of the Board or Treasurer of the
company. Although he will have no continuing operating role in the business, Mr.
Schaeffer will continue to serve as a member of the Board of Directors.
Pathnet president and chief executive officer, Richard A. Jalkut, announced that
William R. Smedberg, currently the Vice President, Finance and Corporate
Development, will replace Mr. Schaeffer as Treasurer.
Pathnet is a leading "carrier's carrier" providing high-quality, low-cost,
digital fiber and wireless telecommunications capacity to under-served and
second- and third-tier U.S. markets. The company's strategy is to partner with
owners of telecommunications assets, including utility, pipeline and railroad
companies, to upgrade and aggregate existing infrastructure to a
state-of-the-art SONET network. Pathnet currently has 2,000 route miles of
completed network, an additional 5,000 route miles under construction and 10,000
route miles of network under contract. Due to demand and opportunity, Pathnet
has recently expanded the scope of its existing business strategy to include
fiber. Pathnet offers telecommunications service to inter-exchange carriers,
local exchange carriers, Internet service providers, Regional Bell Operating
Companies, cellular operators and resellers.
This press release contains some matters that are forward-looking statements.
The reader is cautioned that these forward-looking statements, such as plans to
sign additional agreements with private network operators; offer services to
telecom service providers; enter into partnering, co-development and anchor
tenant arrangements; building a digital network; and statements regarding the
development of Pathnet's business, and other statements contained herein
regarding matters that are not historical facts, are only predictions. No
assurance can be given that the future results will be achieved; actual events
may differ materially as a result of risks facing Pathnet. For a discussion of
factors that could affect the forward-looking statements, see Pathnet's public
filings on file with the Securities and Exchange Commission.
