May 19, 2004 — (WEB HOST INDUSTRY REVIEW) — Cogent Communications (cogentco.com.) announced on Tuesday that it has filed a registration statement with the US Securities and Exchange Commission for the proposed public offering of $75 million of its common stock.
In conjunction with the offering, Cogent’s outstanding preferred stock will be converted into 500.2 million shares of common stock and Cogent will affect a 1-for-20 reverse stock split of its 514.3 million shares of outstanding common stock (which includes the common stock issued upon conversion of the preferred stock). The transactions are subject to stockholder approval.
The price of the common stock to be sold in the offering will be negotiated between the company and Jefferies & Company Inc., the underwriters.
