VANTAGEPOINT COMMUNICATIONS PARTNERS LP 4
4 · DSL NET INC · Filed Jan 21, 2005
Insider Transaction Report
Form 4
DSL NET INCDSLN
Transactions
- Other
See Footnote
2004-10-07+598,219→ 8,100,045 total→ Common Stock, $.0005 par value (598,219 underlying) - Other
Common Stock, $.0005 par value
2005-01-19−4,540,562→ 14,081,905 total
Footnotes (4)
- [F1]The Reporting Person distributed 4,540,562 shares of Common Stock to its partners.
- [F2]The derivative security is titled "Warrant to Purchase Shares of Common Stock" (the "Warrants").
- [F3]The Warrants have a variable exercise price, and provide for customary adjustments upon the occurrence of reclassification or mergers, stock splits, stock dividends and other pro rata events.
- [F4]The Reporting Person received the Warrants in exchange for agreeing to subordinate to Laurus Master Fund, Ltd. (a new investor in the Issuer), the Reporting Person's prior lien on the Issuer's trade accounts receivable. The Warrant will be issued to the Reporting Person upon the satisfaction of certain conditions set forth in the Warrant, including, the approval by the stockholders of the Issuer of the issuance of the Warrant to the Reporting Person. Once the Issuer's stockholders have approved the Warrants, the Warrants will be exercisable upon the occurrence of specified events relating to the change of control of the Company, and will expire on July 18, 2006. This description of the Warrants is qualified in its entirety by reference to the copy of the form of the Warrants filed as an Exhibit to the Issuer's 10-Q on November 15, 2004.