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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 2, 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 2, 1999 that it has acquired all of the outstanding capital
stock of Hypercon, Inc., a Texas corporation ("Hypercon"), for approximately
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$2.5 million and 50,000 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 15, 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 2, 1999, issued by the Company
announcing the acquisition of Hypercon.
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Exhibit - 99.1
FOR IMMEDIATE RELEASE
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Media Contact: Leslie Aun Investor Contact: Seth Levine
FirstWorld FirstWorld
(303) 874-2848 (303) 874-8010
[email protected] [email protected]
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FirstWorld EXPANDS INTO THE LONE STAR STATE,
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PURCHASING HYPERCON, A LEADING HOUSTON-BASED ISP
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Texas Internet Acquisition Next Step in FirstWorld's Expansion
DENVER (June 2, 1999) - FirstWorld Communications Inc., a Denver-based
Internet solutions and telecommunications company, announced that it has agreed
to acquire Hypercon Inc. (www.hypercon.com) one of Houston's leading ISPs, for
$2.5 million and 50,000 shares of common stock. The deal marks FirstWorld's
entry into Texas, the largest and fastest-growing state in the continental U.S.
with about 19 million residents. The Hypercon acquisition represents nearly
4,000 Internet customers, including over 1000 web hosting and collocation
accounts and over 200 dedicated customers.
Company officials say this latest acquisition is in keeping with
FirstWorld's strategy of becoming a preeminent 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 Texas solidly positions FirstWorld to be a significant
Internet solutions provider in one of the fastest-growing areas in the country,"
Sheldon S. Ohringer, FirstWorld's president and chief executive officer, said.
"With the Hypercon presence in Houston, we will continue to deliver the complete
end-to-end solution that businesses are demanding."
(MORE)
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Page 2
"We are excited about joining forces with FirstWorld and our ability to
offer a broad array of Internet Solutions to businesses," said Sean Stoner,
Hypercon's chief executive officer. "We look forward to leveraging our proven
Internet expertise and are dedicated to helping establish FirstWorld as a leader
in Texas."
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.
