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EXHIBIT 99.2
ALLIED RISER COMMUNICATIONS (ARC) COMPLETES OFFERING OF $150
MILLION OF CONVERTIBLE SUBORDINATED NOTES
DALLAS, TX - JUNE 28, 2000 - Allied Riser Communications Corporation
(NASDAQ: ARCC) announced today the completion of its offering of $150 million
7 1/2% convertible subordinated notes, due June 15, 2007.
The notes will be convertible into shares of ARC common stock at a
conversion price of $15.37 and accrue interest that will be payable
semiannually beginning December 15, 2000.
Neither the convertible subordinated notes, nor the shares of common
stock issuable upon conversion have been registered under the Securities Act of
1933, and may not be offered or sold in the United States absent registration or
an exemption from registration.
This notice is not an offer to sell the securities described, and ARC
is not soliciting offers to buy these securities.
ABOUT ALLIED RISER COMMUNICATIONS
ARC provides very high speed, IP-based, "first-mile" communications
services to small and medium-sized businesses in major metropolitan areas in the
United States. ARC delivers services over fiber-optic networks that it designs,
constructs, owns and operates inside commercial office buildings. Over this
infrastructure, ARC offers ultra high-speed Internet access, enhanced conference
calling services, and other broadband data services and applications. ARC's
Internet access services provide a direct "always-on" connection to the Internet
at speeds more than six times faster than T-1 and DSL lines and up to 175 times
faster than standard dial-up service.
For more information about ARC, visit the company's web site at
www.arcbroadband.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995: The statements contained in this release that are not historical
facts may be deemed to contain forward-looking statements, including but not
limited to statements regarding overall market demand for market acceptance of
the Company's services, the intention to deploy fiber-optic networks in
additional buildings or markets and the timing and breadth of penetration in
each building or market. Actual results may differ materially from those
anticipated in any forward-looking statements as a result of certain risks and
uncertainties, including, without limitation, the intense competition for the
Company's service offerings, dependence on growth in demand for the Company's
services, ability to manage growth of our operations, the ability to raise
additional capital and other risks and uncertainties detailed in the Company's
Securities and Exchange Commission filings. Prospective investors are cautioned
not to place undue reliance on such forward-looking statements. The Company
disclaims any obligation to update any of the forward-looking statements
contained herein to reflect future events or developments.
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CONTACTS:
Gary Weitman Joey D. Mooring
Ex. Director, Corporate Communications Sr. Manager, Corporate Communications
Allied Riser Communications Allied Riser Communications
214/210-3050 214/560-2357
email: [email protected] email: [email protected]
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