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SECURITIES AND 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):
June 28, 2000
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NET2000 Communications, INC.
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(Exact name of registrant as specified in its charter)
Delaware 000-29515 51-0384995
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(State of incorporation) (Commission file number) (IRS Employer Identification
No.)
2180 Fox Mill Road
Herndon, Virginia 20171
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(Address of principal executive offices) (Zip code)
(703) 654-2000
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(Registrant's telephone number)
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Item 5. Other Events.
On June 28, 2000, Net2000 Communications, Inc. ("Net2000"), by and
through its wholly-owned subsidiary Net2000 Communications Group, Inc. ("NCGI"),
FreBon International Corporation ("FreBon"), Bonnie L. Horner and Fred J.
Mueller entered into a Stock Purchase Agreement (the " Agreement").
Under the terms of the Agreement, NCGI will purchase all of the issued
and outstanding shares of FreBon in consideration of a cash payment of
$9,000,000, plus 400,000 shares of restricted Net2000 common stock and up to an
additional $15,000,000 (or, at Net2000's option, the equivalent thereof in
shares of Net2000 common stock) upon attainment of certain revenue milestones.
Upon consummation of the transaction, FreBon will become a wholly-owned
subsidiary of Net2000. The transaction will be accounted for under the purchase
method. The Agreement is subject to customary closing conditions.
Net2000 issued a press release announcing the Agreement on June 28,
2000, which is filed herewith as Exhibit 99.1 and is incorporated herein by
reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
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99.1 Press release of Net2000 Communications, Inc., dated June 28, 2000.
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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.
Date: July 6, 2000 Net2000 Communications, Inc.
/s/ Clayton A. Thomas, Jr.
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By: Clayton A. Thomas, Jr.
Title: Chief Executive Officer
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EXHIBIT INDEX
99.1 Press release of Net2000 Communications, Inc., dated June 28, 2000.
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