Went public 2/10/2000 at $17 apiece
Filing Range: 10 mil. shares @ $14 to $16
Shares Outstanding: 45.86 mil. shares
Underwriters: Bear Stearns
Donaldson, Lufkin & Jenrette/J.C. Bradford
(Data except per-share in $ thousands)
Y/E Y/E 9 MOS 9 MOS
12/97 12/98 9/98 9/99
Total Revenue $709 $2,417 $1,428 $5,227
Net Loss -1,325 -3,490 -2,490 -7,974
Net Loss Per Share -.41 -1.32 -.94 -3.02
Cypress Communications provides a range of communications services to small and medium-sized businesses located in multi-tenant office buildings in major markets throughout the United States. The company offers local and long distance voice services, digital telephone systems, high speed, always-on Internet access, business television, voicemail, e-mail, Web site hosting and other enhanced communications services. Cypress delivers its services over fiber-optic, digital and broadband networks that it designs, constructs, owns and operates inside large and medium-sized office buildings. The company gains access to these buildings by executing long-term license agreements with property owners and building managers. As of December 31, 1999, Cypress operated networks in 116 buildings representing approximately 30 million rentable square feet in 12 major metropolitan areas. The company recently entered into agreements with property owners and operators that will allow Cypress to enter 38 additional metropolitan markets.
Construction of inbuilding networks, and equipment purchases ($100 mil.), the remainder will be used for working capital and general corporate purposes.
The Centennial Funds, Alta Communications Inc., Beacon Capital Partners Inc., Nassau Capital Inc., Gramercy Communications Partners Inc., DWS Capital LLC, an affliate of Shorenstein Management Inc.
William Egan, Alta Communications Inc. February 1997
Laurence Grafstein, Gramercy Communications Partners Inc. November 1999
Randall Hack, Nassau Capital Inc. November 1999
John Halsted, Beacon Capital Partners Inc. October 1998
Jeffrey Schutz, The Centennial Funds November 1996
P. Eric Yopes, Shorenstein Management Inc. December 1998