8 Aug
2001
8 Aug
'01
10:45 a.m.
On Wed, 8 Aug 2001, Smith, Rick wrote:
Just found this...
As someone who has 14 DS3s into their network I think this is very good news. Covad was crushed with $160 million a year payments on $1.3 billion in debt. That now all gets converted into common stock (sucks for common shareholders) and everything is reset. This lowers cash needed to break even down to $200 million from $400 million. -Nathan