UNITED STATES
SECURITIES EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
February 18, 2000
CI4NET.COM, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 13-4032991
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(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
1 Rockefeller Plaza - Suite 1600
New York, New York 10020
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number (212) 225-6581
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Item 5. Other Events
On February 18, 2000, Ci4net.com Inc. completed the final closing
of its private placement of its Series A preferred stock, par
value $0.001 per share (the "Series A Preferred Stock"), at a
price of $10.00 per share of preferred stock in a strategic
private placement (the "Private Placement"), resulting in net
proceeds to the Company of approximately $57,200,000. Each
preferred share is initially convertible into two shares of
common stock. The conversion price is subject to adjustment in
certain circumstances. The price at which the Series A Preferred
Stock was sold was determined in December 1999 before the reverse
merger with Leisure Concepts International Inc. The Private
Placement was sold only to a limited number of accredited
investors in a transaction pursuant to an exemption from the
registration requirements of the Securities Act under 4(2)
thereof, including Rule 506 of Regulation D promulgated
thereunder.
On February 22, 2000, the Company issued a press release which
reported the closing of the sale of shares of its Series A
Preferred Stock. The press release is filed as an exhibit to
this Current Report on Form 8-K pursuant to Rule 135c under the
Securities Act of 1933, as amended.
Item 7. Exhibits.
Exhibit 99.1 Press Release.
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, thereunto duly authorized.
Ci4net.com Inc.
Date: February 28, 2000
By:
Name: Kevin Leech
Title: Chairman
<PAGE>
Exhibit Index
Exhibit Number Description
99.1 Press Release dated February 22, 2000
<PAGE>
EXHIBIT 99.1
CI4NET.COM COMPLETES $60 MILLION STRATEGIC EQUITY PLACEMENT
BUILDS STRONG GLOBAL NETWORK FOR DEAL FLOW, TECHNOLOGY DUE
DILIGENCE AND GEOGRAPHIC DIVERSITY
LONDON, Feb. 22 /PRNewswire/ -- Ci4net.com, Inc. (OTC Bulletin
Board: CIFN - news), the Econet 4 Europe, today announced that it
closed a $60 million strategic equity placement with a global
syndicate including representation from the media and technology
investing communities on both sides of the Atlantic. The
financing will allow the company to build an even stronger
global network for deal flow, technology due diligence and
geographic diversity. These funds will further accelerate
Ci4net.com's acquisition, investment and development of its
economic network focused on European Business-to-Business,
Business-to-Consumer, and Internet Infrastructure and Enabling
Technology companies. Ci4net.com currently has majority holdings
in 26 portfolio companies with a targeted run rate of more than
$150 million for the calendar year 2000.
Participants in this round include Michael Jordan, Chairman of
Luminant Worldwide Corp., Chairman and CEO of privately-held
eOriginal, a Dell board member, and former Chairman and CEO of
CBS Corporation; Larry Bouts, former Chairman and CEO of Six
Flags Theme Parks, President of Toys "R" Us International and CFO
of PepsiCo Foods International; Red Coat Capital, an U.S.-based
media and technology growth stock fund; Ramius Capital, a
financing boutique founded by the former Chairman of Salomon
Brothers and CEO of Lehman Brothers; Nathan Gantcher, former CEO
of CIBC Oppenheimer; Chris Blair Asset Management, founded by the
former portfolio manager of Morgan Stanley Dean Witter's
technology funds; Counsel Corporation, a New York-based venture
capital firm led by Allan Silber that is focused on B2B investing
in the U.S. and Canada; Digital Century, founded by Rajiv
Chaudhri the Goldman Sachs' semiconductor analyst for 12 years;
TIU Fund, Dublin-based technology consulting and iBanking
consortium; IndiGo Capital LLC, an Internet Venture Catalyst; and
Value Management Research, a Frankfurt-based technology venture
capital fund with over $1 billion ($US) under management.
Greg Osborn, founding member of IndigGo Capital LLC, said, "This
is one of the finest quality deals we have seen in a long time.
We continue to be extremely impressed with the strategic business
plan Ci4net.com developed and its ability to exceed all
performance targets. We fundamentally believe Ci4net.com will
become the standard by which all other Econets are measured."
Kevin Leech, Chairman of Ci4net.com, commented, "We are pleased
at the overwhelming reception we received from the global
financial community. Because we were oversubscribed on this
round, we were able to select leading Internet investors who will
help us with deal flow and insights into emerging Internet trends
and business models. We remain focused on maximizing shareholder
value by creating more than just another Internet holding
company. Our goal is to become the Econet 4 Europe by providing
partner companies with all the essential resources and assistance
needed to ultimately make it to market faster."
About Ci4net.com
Ci4net.com is a European economic network, or "Econet". The
Company currently owns 50% or more of 26 Internet companies
involved in Business-to-Business, Business-to-Consumer,
e-Commerce and infrastructure. Ci4net.com is focused on adding
value at all stages of a company's development via its network.
Ci4net.com can provide infrastructure technologies, operational
and management resources and synergistic access to a network of
portfolio companies. For more information visit Web site
http://www.ci4net.com.
Forward-Looking Statements:
When used in this discussion, the words "expects," "believes,"
and similar expressions are intended to identify forward-looking
statements that involve risks and uncertainties. Actual results
may differ materially depending on a number of risk factors
including, but not limited to, the following: development,
shipment, market acceptance and additional competition from
existing and new competitors which will impact new customers.
Other risks inherent in the business of the company are described
in Securities and Exchange Commission filings. The company
undertakes no obligation to revise or update any forward-looking
statements to reflect events or circumstances after the date of
this release.
CONTACT: US - Investors - David Pasquale, 917-639-4277, or Media
- - Connie Lee, 917-639-4112, both of The Ruth Group, for
Ci4net.com; or U.K. - Martin Forrest, 011-44-171-232-4592, or
Paul Bimson, 011-44-171-232-4599, both of Cubitt Consulting, for
Ci4net.com.
