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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (date of earliest event reported): July 19, 1999
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I-LINK INCORPORATED
(Exact name of registrant as specified in its charter)
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<S> <C> <C>
Florida 0-17973 59-2291344
(State or other jurisdiction of (Commission File (I.R.S. Employer
incorporation) Number) Identification No.)
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13751 South Wadsworth Park Drive, Suite 200, Draper, UT 84020
(Address of principal executive offices)
Registrant's telephone number, including area code: (801) 576-5000
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Item 5. Other Events
On July 19, 1999 I-Link Incorporated conducted its Annual Meeting of
Stockholders. At that meeting the I-Link stockholders voted to approve a
proposal to amend the conversion terms of the Series N preferred stock.
Consequently, the conversion terms described in the I-Link prospectus
dated June 25, 1999 in the section captioned "Description of Securities -- What
are the current terms of the Series N conversion price?" (page 31) will not
apply to the Series N preferred stock.
Instead, the conversion terms described in the prospectus section
captioned "Description of Securities -- What is the proposed modification to the
terms of the Series N conversion price?" (page 32) will apply to all shares of
Series N preferred stock.
On July 22, 1999 I-Link issued a press release reporting on this and other
results of the stockholder meeting, the form of which is filed as an exhibit
hereto.
Item 7. Financial Statements and Exhibits
(c) Exhibits
4.14 Prospectus dated June 25, 1999, contained in the Registrant's
Registration Statement on Form S-2 (File No. 333-70645), as filed with
the Securities and Exchange Commission on June 24, 1999 and declared
effective by the Commission on June 25, 1999, incorporated herein by
this reference.
4.15 Supplement dated July 20, 1999, to Prospectus dated June 25, 1999 (File
No. 333-70645), filed pursuant to Rule 424(b)(3) on July 21, 1999,
incorporated herein by this reference.
99.1 Press Release dated July 22, 1999, filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Company has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
I-LINK INCORPORATED
(Registrant)
Dated: July 22, 1999 By: /s/ KARL S. RYSER, JR.
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Karl S. Ryser, Jr.
Treasurer and Chief
Financial Officer
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Exhibit 99.1
MEDIA CONTACT: FINANCIAL CONTACT:
David Politis Karl Ryser, Jr.
Politis Communications I-Link, Inc.
(801) 523-3730 (801) 576-5025
(801) 598-3730 (mobile) [email protected]
[email protected]
FOR IMMEDIATE RELEASE
I-LINK SHAREHOLDERS APPROVE MODIFICATION TO
PREFERRED STOCK RIGHTS OFFERING AT ANNUAL MEETING
KEENAN ALSO RE-ELECTED TO BOARD AT MEETING
DRAPER, Utah (July 22, 1999) -- I-Link Inc. (Nasdaq: ILNK), a next generation
telecommunications company, today announced that its shareholders approved a
modification to the terms of the company's current Series N preferred stock
rights offering at the company's annual meeting held July 19, 1999.
The original terms of the rights offering set the rate at which each Series N
preferred share can be converted into common shares at $2.78. The modification
approved by the shareholders provides for the reduction of the Series N
conversion price under certain conditions, including linking it to (1) the price
at which any new common stock is issued, (2) the price at which any common stock
is issued upon the exercise or conversion of any new options, warrants,
preferred stock, or other convertible security, or (3) the price at which any
common stock is issued upon the subsequent conversion of the company's
outstanding Series F preferred stock, in the event the price at which any such
common stock is issued is lower than $2.78. The modification also establishes a
conversion price floor of $1.25, consistent with other outstanding series of the
company's preferred stock. (Additional details on the modification to this
Series N preferred stock rights offering will be provided in the 8-K filing with
the U.S. Securities and Exchange Commission slated to be filed later today.)
Additionally, I-Link shareholders approved the re-election of Thomas A. Keenan
to its board of directors and to fill a three-year term therein. Keenan was
first appointed to the I-Link board in 1998.
Founded in 1994, I-Link Inc. is a next generation telecommunications company
that uses its IP-enabling technologies to provide low-cost long-distance,
conference calling, voice mail, fax, e-mail and other enhanced communications
services to its customers. I-Link delivers these services via its private IP
network built with I-Link's next generation IP-based network platforms, I-Link
Communications Engines(TM) and I-Link Enhanced Services Engines(TM). Through
wholly owned subsidiaries MiBridge Inc. and ViaNet Technologies Ltd., I-Link
develops emerging communications technologies that are used by I-Link and other
leading communications firms worldwide. I-Link is headquartered in Draper, Utah,
and its Web site is located at http://www.i-link.net.
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The statements made in this release that are not historical facts contain
forward-looking information that involves risks and uncertainties. Important
factors that may cause actual results to differ include, but are not limited to,
the impact of competitive products and services, the company's ability to manage
growth and acquisitions of technology or businesses, the effect of economic and
business conditions, and other risks detailed from time to time in the company's
filings with the Securities and Exchange Commission.
