Covad Communications Files For Initial Public Offering.SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--Sept. 22, 1998--Covad Communications Group, Inc. announced today the filing of a Registration Statement with the Securities and Exchange Commission relating to the proposed initial public offering of up to $143,750,000 of shares of Common Stock, including up to $18,750,000 of shares of Common Stock to be sold by the company pursuant to an over-allotment option to be granted by the company to the underwriters of the offering. Bear, Stearns & Co. Inc., BT Alex, Brown Incorporated, Donaldson Lufkin & Jenrette Securities Corporation and Goldman, Sachs & Co. are the managing underwriters of the offering. A registration statement relating to the Common Stock of Covad Communications Group, Inc. has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. When available, a copy of the preliminary prospectus Preliminary Prospectus A first draft registration statement filed by a firm prior to proceeding with an initial public offering of securities. The document, filed with the Securities & Exchange Commission, is intended to provide pertinent information to prospective shareholders may be obtained from the prospectus department of Bear, Stearns, & Co. Inc., 245 Park Avenue, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , N.Y. 10167 (212/272-2000), BT Alex, Brown Incorporated, One South Street, Baltimore, Md. 21202 (410/895-2700), Donaldson, Lufkin & Jenrette Securities Corporation, 277 Park Avenue, New York, N.Y. 10172 (212/892-3000), and Goldman, Sachs & Co., 85 Broad Street, New York, N.Y. 10004 (212/902-1000). Covad Communications is a packet-based Competitive Local Exchange Carrier that provides dedicated high-speed digital communication services using Digital Subscriber Line See DSL. (communications, protocol) Digital Subscriber Line - (DSL, or Digital Subscriber Loop, xDSL - see below) A family of digital telecommunications protocols designed to allow high speed data communication over the existing copper telephone lines between end-users and (DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary ) technology to enterprise and Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. customers. The company has launched its services in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay , Los Angeles, New York and Boston metropolitan areas and recently announced its plans to deploy its service network in a total of 22 regions nationwide. Covad Communications' corporate headquarters are located at 2330 Central Expressway, Santa Clara, Calif., 95050. |
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