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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
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1. Name and Address of Reporting Person*
PSINet Inc.
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(Last) (First) (Middle)
44983 Knoll Square
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(Street)
Ashburn Virginia 20147
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
06/15/00
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3. IRS or Social Security Number of Reporting Person (Voluntary)
16-1353600
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4. Issuer Name and Ticker or Trading Symbol
Xpedior Incorporated (Nasdaq XPDR)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Year)
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7. Individual or Joint/Group Filing (Check applicable line)
[ X ] Form Filed by One Reporting Person
[ ] Form Filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
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Common Stock 40,005,048 I By PSINet Consulting Solutions, Inc. (1)
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
5(b)(v)
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 2
<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
Convertible Note 8/15/00(2) 8/15/00(2) Common Stock(2) 1,333,333 $37.50 per D
share
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</TABLE>
Explanation of Responses:
(1) PSINet Consulting Solutions, Inc., a Delaware corporation which is a wholly
owned subsidiary of the Reporting Person ("PCS"), is the record owner of
40,005,048 shares of the Issuer's Common Stock, par value $0.01 per share.
In its capacity as sole shareholder of PCS, the Reporting Person is deemed
to share investment control over such shares and thus could be deemed to
have an indirect pecuniary interest in such shares within the meaning of
Rule 16a-1(a)(2)(iii) under the Securities Exchange Act of 1934.
(2) The Convertible Note will automatically convert into 1,000,000 shares of
the Issuer's Series A 8 1/2% Cumulative Convertible Preferred Stock, par
value $0.01 per share (the "Preferred Stock"), on the twentieth day
following the delivery by the Issuer of an Information Statement to its
shareholders, provided that such date may not be later than August 15,
2000. The Preferred Stock issuable upon conversion of the Convertible Note
is convertible at any time, at the option of the holder thereof, into
1,333,333 shares of the Issuer's Common Stock (subject to anti-dilution
protection in the event of stock splits, stock dividends,
recapitalizations, below-market share issuances and similar events) for
$37.50 per share.
PSINet Inc.
By:/s/Kathleen B. Horne June 23, 2000
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Kathleen B. Horne, Senior Vice President, Date
General Counsel and Corporate Secretary
**Signature of Reporting Person
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
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 Instruction 6 for procedure.
Alternatively, this form is permitted to be submitted to the
Commission in electronic format at the option of the reporting person
pursuant to Rule 101(b)(4) of Regulation S-T.
Page 2 of 2
(122795DTI)
