| Proposed Ticker: HYPT | 5 West Third Street, P.O. Box 472 | |
| Exchange: NASDAQ-National Market | Coudersport, Pennsylvania 16915 | |
| Industry: Transportation | (814) 274-9830 |
| All share information is proposed | ||||
| Type of Shares: | Class A Common Shares | Filing Date: | 10/8/96 | |
| U.S. Shares Filed: | 13,200,000 | Filing Range: | $11.00 - $13.00 | |
| Non-U.S. Shares Filed: | 3,300,000 | Offering Amount: | $198,000,000 | |
| Primary Shares: | 16,500,000 | Expenses: | - | |
| Secondary Shares: | 0 | Shs Out After: | ||
| Spin out parent firm: | Adelphia Communications Corp. | |||
| Manager | Tier | Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-1172 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-2000 |
| Lazard Freres & Co. | Co-manager | (212) 632-3000 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 3/31/96 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $3.32 | $1.10 | $0.69 | Assets: | $194.48 |
| Net Income: | -$13.62 | $0.55 | -$3.11 | Liabilities: | $213.16 |
| EPS: | -$0.68 | $0.03 | -$0.16 | Equity: | -$18.69 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a leading provider of local telecommunications services over state-of-the art fiber optic networks in selected markets within the United STates. Hyperion believes it is the third largest competitive local exchange carrier in the United States, based upon route miles and buildings connected data made publicly available by other CLECs. Each of the company's 18 networks (including three currently under construction) has been developed by partnering with a cable operators or utility provider with operations in that region. This approach has allowed Hyperion to rapidly construct high-capacity networks which generally have broader coverage of its markets than those of other CLECs. The company believes that the breadth of its networks will allow it to originate and terminate a significant proportion of its customers' local telephone calls over its own network, instead of relying on the network of the incumbent local exchange carrier. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund the company's capital expenditures, working capital requirements, operating losses and pro rata investments in the Operating Companies and for general corporate purposes. |
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