:-----------:
: FORM 4 : U.S. SECURITIES AND EXCHANGE COMMISSION
:-----------: WASHINGTON, DC 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange
Act of 1934, Section 17(a) of the Public Utility Holding
Company Act of 1935 or Section 30(f) of the
Investment Company Act of 1940
[X] Check box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b)
1. Name and Address of Reporting Person:*
Columbia Capital Corporation
201 North Union Street
Alexandria, VA 22314
2. Issuer Name and Ticker or Trading Symbol
Advanced Radio Telecom Corp. (ARTT)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
February, 1998
5. If Amendment, Date of Original (Month/Year)
* If the Form is filed by more than one Reporting Person, see
Instruction 4(b)(v).
<PAGE>
6. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
7. Individual or Joint/Group Filing (Check applicable line)
[ X ] Form filed by one Reporting Person
[ ] Form filed by more than one Reporting Person
<TABLE>
TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<CAPTION>
1. Title of Security 2. Trans- 3. Transac- 4. Securities Acquired (A) or 5. Amount of 6. Owner- 7. Nature of
(Inst. 3) action tion Disposed of (D) Securities ship Indirect
Date Code (Instr. 3, 4 and 5) Beneficially Form: Beneficial
(Month/ (Inst. 8) -------------------------- Owned at End Direct Ownership
Day/ ------------- Amount (A) or Price of Month (D) or (Instr. 4)
Year) Code V (D) (Instr. 3 Indirect
and 4) (I)
(Instr. 4)
- --------------------- ----------- ------ ---- ------- ------ ----- ---------------- -------------- ---------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 11/5/97 J 421,700 D see 1,759,978 I General Partner
below
Common Stock 2/18/98 J 93,087 D see 1,338,278 D
below
Common Stock 2/18/98 J 758,765 A see 1,338,278 D
below
Common Stock 2/18/98 J 54,234 A see 1,338,278 I General Partner
below
Common Stock 2/18/98 J 93,087 A see 1,338,278 I General Partner
below
Common Stock 2/18/98 J 758,765 D see 1,338,278 I General Partner
below
Common Stock 2/18/98 J 960,000 D see 1,338,278 I General Partner
below
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
<PAGE>
<TABLE>
TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<CAPTION>
1.Title of 2.Con- 3.Trans- 4.Trans- 5.Number of 6.Date Exer- 7.Title and 8.Price 9.Number 10.Ownership 11.Nature
Deriva- version action action Derivative cisable and Amount of of De- of Deriv- Form of of
tive or Date Code Securities Expiration Underlying rivative ative Derivative Indirect
Security Exer- (Month/ (Instr. Acquired Date Securities Security Securi- Security: Bene-
(Instr.3) cise Day/ 8) (A) or (Month/ (Instr. 3 (Instr. ties Direct ficial
Price Year) -------- Disposed Day/Year) and 4) 5) Bene- (D) or Owner-
of Code V of (D) -------------- ------------- ficially Indirect ship
Deriva- (Instr. 3, Date Expi- Title Amount Owned at (I) (Instr.4)
tive 4 and 5) Exer- ration or No. End of (Instr.4)
Secur- ----------- cisable Date of Month
ity (A) (D) Shares
- ----------- --------- -------- ---- --- ----- --- ------- ------ ----- ------ ---------- ----------- ------------ ------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common $15 10/15/97 J 46,630 10/15/ 10/15/ Common 46,630 N/A 62,173 D
Stock 97 01 Stock
Warrants
(Right to
Buy)
Common $15 10/16/97 J 15,543 10/16/ 10/16/ Common 15,543 N/A 62,173 D
Stock 97 01 Stock
Warrants
(Right to
Buy)
Explanation of Responses: In October, 1997, CCC Millimeter, L.P., a Delaware
limited partnership ("CCC Millimeter"), Columbia Millimeter Communications,
L.P., a Delaware limited partnership ("Columbia Millimeter"), and Columbia
Capital Corporation ("Columbia Capital") agreed to transfer an aggregate of
421,700 shares of the Issuer's Common Stock to BizTel Communications, Inc.
("BizTel") to settle claims asserted against them by BizTel. CCC Millimeter
subsequently transferred 421,700 shares of the Issuer's Common Stock to BizTel
on behalf of itself and on behalf of Columbia Millimeter and Columbia
Capital. In order to reimburse CCC Millimeter for the shares of the Issuer's
Common Stock transferred on their behalf, (i) Columbia Millimeter transferred
54,234 shares of the Issuer's Common Stock to CCC Millimeter on February 18,
1997, and (ii) Columbia Capital transferred 93,087 shares of the Issuer's
Common Stock to CCC Millimeter on February 18,1998. The parties did not
assign a specific value to the transferred securities. Common Stock Purchase
Warrants owned by Columbia Capital to purchase a total of 62,173 shares
became presently exercisable in October 1997 and are now included among the
number of shares reported as beneficially owned by Columbia Capital; such
warrants have not been exercised. On February 18, 1998, CCC Millimeter
distributed to its partners on a pro rata basis a total of 1,718,765
shares of the Issuer's Common Stock. Included in this distribution was a
transfer of 758,765 shares of the Issuer's Common Stock to Columbia
Capital, which is the general partner of CCC Millimeter. The parties did not
assign a specific value to the transferred securities. Columbia Capital is
reporting all securities beneficially owned by the entities in which it is a
general partner, and disclaims beneficial ownership except to the extent of
its pecuniary interest therein.
</TABLE>
<PAGE>
**Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
COLUMBIA CAPITAL CORPORATION
By: /s/ Neil P. Byrne February 27, 1998
---------------------- -----------------
Print Name: Neil P. Byrne Date
Its: Vice President
**Signature of Reporting Person
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this form, one of which must be manually signed.
If space provided is insufficient, see Instructions 6 for procedure.
