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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): JULY 8, 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"),
announced on July 8, 1999 that it has acquired all of the outstanding capital
stock of Oregon Professional Services, Inc., d/b/a Transport Logic, an Oregon
corporation ("Transport Logic"), for approximately $7.4 million (less debt and
deferred revenue) and approximately 393,000 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: July 23, 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 July 8, 1999, issued by the Company
announcing the acquisition of Transport Logic.
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Exhibit 99.1
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 ACQUIRES LEADING OREGON ISP TRANSPORT LOGIC
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Second Portland Acquisition Expands FirstWorld's Internet Offering
DENVER, CO (July 8, 1999) - FirstWorld Communications Inc., a Denver-
based Internet solutions and telecommunications company, announced that it has
agreed to acquire Transport Logic (www.transport.com), a Portland-based
independent Internet service provider, for $7.4 million, less debt and deferred
revenue plus approximately 393,000 shares of FirstWorld common stock. The deal
marks FirstWorld's second Oregon acquisition in the last eight months and will
expand the company's ability to offer a full range of business communications
solutions including high-speed access via DSL (digital subscriber line), web
design, integration and hosting, electronic commerce support, and local and long
distance telephony.
Transport Logic is a leading regional Internet solutions company with
over 9,000 customers, serving small to medium sized businesses, as well as
residential customers in the West and Northwest United States. FirstWorld
expanded into Oregon in November with its acquisition of the web integration and
consulting business, Optec, Inc., a subsidiary of Enron Communications. Through
that transaction, FirstWorld also acquired a 40-mile fiber network around
Portland and access to Enron Communications' broadband network connecting up to
15 cities nationwide. FirstWorld will combine these assets with Transport
Logic's network to offer a wide range of Internet solutions.
"FirstWorld and Transport Logic are two companies joining forces to
provide small and medium sized businesses a superior level of customer service
and a full range of Internet solutions," said Sheldon S. Ohringer, FirstWorld's
president and chief executive officer. "With
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these solutions, business owners will not only run their companies more
efficiently, but they will also be able to leverage the Internet to attract new
customers."
(more)
Page Two
"Over the last four years we have successfully built a reputation of
providing superior Internet service and customer care to businesses and
consumers," said Tony Schwartz, president of Transport Logic. "By combining
Transport Logic with FirstWorld, we will create an Internet solutions company
offering a complete end-to-end solution to businesses of all sizes. We look
forward to helping establish FirstWorld as a leading provider of Internet
solutions throughout the region."
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.
