Posted By Rich Miller On May 30, 2006 @ 11:10 am In Level 3 | Comments Disabled
Fiber optic network operator Level 3 Communications Inc. (LVLT) will sell 125 million shares of stock and $150 million of convertible debt to the public, the company said today. After the announcement, Level 3 shares were trading at 4.89 a share , placing the estimated value of the stock sale at around $611 million dollars. That would provide plenty of funding to continue the company’s recent buying spree, which has seen it acquire ICG Communications , Telcove  and WilTel .
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URL to article: http://www.datacenterknowledge.com/archives/2006/05/30/level-3-will-sell-stock-debt-to-raise-more-cash/
URLs in this post:
 4.89 a share: http://finance.yahoo.com/q?d=t&s=LVLT
 ICG Communications: http://www.datacenterknowledge.com/archives/2006/Apr/17/level_3_to_acquire_icg_communications.html
 Telcove: http://www.datacenterknowledge.com/archives/2006/May/01/citing_video_demand_level_3_buys_telcove.html
 WilTel: http://www.datacenterknowledge.com/archives/2005/Oct/31/level_3-wiltel_will_bandwidth_pricing_rebound.html
 Rich Miller: http://www.datacenterknowledge.com/archives/author/richm/
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