Short Take: Rocky Mountain Internet to offer high yield securities

Colorado ISP Rocky Mountain Internet announced that it will try to raise as much as $175 million by offering high yield securities in a private placement offering. The offering is contingent upon the consummation of a previously announced acquisition of Internet Communication Corporation. In addition, in a filing with the Securities and Exchange Commission, Rocky Mountain set aside 2 million shares to be used toward growth through future acquisitions.

July 21, 1998 5:55 a.m. PT

Colorado ISP announced that it will try to raise as much as $175 million by offering high yield securities in a private placement offering. The offering is contingent upon the consummation of a previously announced acquisition of Internet Communication Corporation. In addition, in a filing with the Securities and Exchange Commission, Rocky Mountain set aside 2 million shares to be used toward growth through future acquisitions.