3//SEC Filing
KLUGE JOHN W NEW YORK TRUST 3
Accession 0001104659-03-021463
CIK 0001043533other
Filed
Sep 23, 8:00 PM ET
Accepted
Sep 24, 3:53 PM ET
Size
9.3 KB
Accession
0001104659-03-021463
Insider Transaction Report
Form 3
ABOVENET INCNONE
KLUGE JOHN W NEW YORK TRUST
10% Owner
Holdings
Rights to Common Stock
Exercise: $29.95From: 2003-10-06Exp: 2003-10-06→ Common StockSeven Year Warrants
Exercise: $24.00From: 2003-09-08Exp: 2011-09-08→ Common Stock (24,485 underlying)Five year Warrants
Exercise: $20.00From: 2003-09-08Exp: 2008-09-08→ Common Stock (20,813 underlying)- 994,217
Common Stock
Footnotes (3)
- [F1]Pursuant to the Plan, all previously existing equity securities of the Issuer were cancelled on September 8, 2003 (the "Effective Date"). All capitalized terms used in this Report and not herein defined have the meanings ascribed to them in the Plan, a copy of which is filed as Exhibit 2.1 to the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "Commission") on September 4, 2003. The Plan requires that shares of New Common Stock, Five Year Warrants and Seven Year Warrants be issued to holders of Allowed Claims. However, the allocation of those shares and warrants among the holders of Allowed Claims cannot be finally determined until the actual amount of Allowed Claims is finally determined. (Continued in Footnote 2)
- [F2]Pending final resolution of all claims, the Issuer will make interim distributions of a portion of the securities to be distributed under the Plan. The indicated number reflects the Reporting Person's best estimate of New Common Stock, Five Year Warrants and Seven Year Warrants to be distributed to such person in respect of its Allowed Claims. Pending a final determination of the shares of New Common Stock, Five Year Warrants and Seven Year Warrants to be issued to the holders of Allowed Claims under the Plan, the remaining New Common Stock, Five Year Warrants and Seven Year Warrants to be distributed under the Plan are being held by the Issuer. The Reporting Person will update the information contained in this Report following the final resolution of claims and distribution of additional securities under the Plan.
- [F3]Pursuant to the Plan and the Order dated August 21, 2003 confirming the Plan (the "Order"), a copy of which was filed as Exhibit 2.4 to the Issuer's Current Report on Form 8-K filed with the Commission on September 4, 2003, the Issuer is conducting an offering of Rights exercisable for shares of Common Stock (the "Rights Shares") to certain holders of Allowed Claims. In accordance with the Plan and the Order, the Reporting Person, with respect to its Class 1(b) Claim, may exercise up to 135,205 of the Rights Shares. The Reporting Person is entitled to additional Rights with respect to its Class 6(a) Claim, however, the amount of Rights Shares those Rights will be exercisable for cannot be accurately determined at this time. In the event that certain Rights are unexercised by certain other holders of Allowed Claims, then the Reporting Person may be required to exercise Rights to up to 834,605 Rights Shares under the Plan and Order.
Documents
Issuer
ABOVENET INC
CIK 0001043533
Entity typeother
IncorporatedNY
Related Parties
1- filerCIK 0001264493
Filing Metadata
- Form type
- 3
- Filed
- Sep 23, 8:00 PM ET
- Accepted
- Sep 24, 3:53 PM ET
- Size
- 9.3 KB