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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): JUNE 15, 1999
FIRSTWORLD COMMUNICATIONS, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-24953 33-0521976
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
7100 E. BELLEVIEW AVENUE, SUITE 210,
GREENWOOD VILLAGE, COLORADO 80111
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 874-8010
Page 1 of 2 Pages
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ITEM 5. OTHER EVENTS
FirstWorld Communications, Inc., a Delaware corporation (the "Company"),
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announced on June 15, 1999 that it has acquired all of the outstanding
membership interests of Internet Express, LLC, a Colorado limited liability
company ("Internet Express"), for approximately $2.17 million (less debt and
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deferred revenue) and approximately 30,000 shares of the Company's Series B
Common Stock, par value of $.0001 per share. A copy of the press release of the
Company is attached hereto as Exhibit 99.1 and incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Date: June 28, 1999 FIRSTWORLD COMMUNICATIONS, INC.
By: /s/ Sheldon S. Ohringer
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Sheldon S. Ohringer
Chief Executive Officer and
President
EXHIBITS INDEX
Exhibit Description
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99.1 Press Release, dated June 15, 1999, issued by the Company announcing
the acquisition of Internet Express.
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
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Media Contact: Scott Chase Investor Contact: Seth Levine
FirstWorld FirstWorld
(303) 874-2443 (303) 874-8010
[email protected] [email protected]
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FirstWorld EXPANDS INTO HOME STATE OF COLORADO,
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PURCHASING COLORADO SPRINGS-BASED INTERNET EXPRESS
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DENVER (June 15, 1999) - FirstWorld Communications Inc., a Denver-based
Internet solutions and telecommunications company, announced that it has agreed
to acquire Internet Express (www.iex.net), an independent Internet service
provider based in Colorado Springs, CO, for $2.17 million (less debt and
deferred revenue) and 30,000 shares of common stock. The deal marks
FirstWorld's entry as an Internet service provider into its home state of
Colorado, and enables the company to begin serving customers in the largest
cities located along the Front Range including Denver, Colorado Springs, Pueblo,
as well as Albuquerque, New Mexico.
This latest acquisition is in keeping with FirstWorld's strategy of
becoming a leading Internet solutions company, offering a full range of business
solutions including high-speed access via DSL (digital subscriber line), web
design and hosting, electronic commerce, and local and long distance telephony.
The move into Colorado comes less than two weeks after the company announced its
expansion into Texas with the acquisition of Hypercon Inc., a leading ISP based
in Houston.
"We are very pleased to be establishing a presence in our home state and
throughout the Front Range," said Sheldon S. Ohringer, FirstWorld's president
and chief executive officer. "Businesses are demanding end-to-end Internet
solutions and with this acquisition, FirstWorld will provide all of the services
small and medium-sized companies need to establish an effective presence on the
Web."
(MORE)
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"The economic growth in Colorado has been incredible and we are excited
about joining forces with FirstWorld to offer a broad array of Internet
Solutions to new and established businesses," said Dr. Wei Lin, president of
Internet Express. "We look forward to leveraging our expertise to further
establish FirstWorld as an Internet Solutions leader in Colorado."
About FirstWorld
FirstWorld Communications, Inc. headquartered in Denver, CO, is an Internet
solutions and telecommunications provider that delivers a complete range of
Internet services, web integration and consulting and telephony solutions to
small and medium sized businesses. For more information, visit the company's
Web site at www.firstworld.com.
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THIS PRESS RELEASE MAY CONTAIN "FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING
OF THE SECURITIES LAWS. ALTHOUGH THE COMPANY BELIEVES THAT THE EXPECTATIONS
REFLECTED IN SUCH FORWARD-LOOKING STATEMENTS ARE REASONABLE, IT CAN GIVE NO
ASSURANCE THAT SUCH EXPECTATIONS WILL PROVE TO HAVE BEEN CORRECT. ACTUAL RESULTS
WILL DIFFER AND SUCH DIFFERENCES MAY BE MATERIAL.
