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May 13, 2008 - PAETEC Holding Corp. Announces First Quarter 2008 Results
May 12, 2008 - PAETEC to Present at Investor Conferences
May 07, 2008 - PAETEC to Release First-Quarter Results
May 01, 2008 - PAETEC Celebrates a Decade of Dedication to Customers
Apr 23, 2008 - PAETEC Presents Highest Vendor Quality Recognition to Oracle
Apr 23, 2008 - PAETEC Announces Commercial Launch of Next-Gen Telecom Expense Management Software
Apr 17, 2008 - World's Largest Telecom Expense Management Conference to Convene in San Francisco April 22-25
Apr 15, 2008 - PAETEC Promotes Sanjay Hiranandani to Senior Vice President
Apr 11, 2008 - PAETEC Commended by New York Public Service Commission
Mar 19, 2008 - New RIT/PAETEC Partnership Changes Nature of Academic-Industry Collaboration
Mar 17, 2008 - Allworx Receives 2008 VON Magazine Innovator Award
Mar 14, 2008 - PAETEC Receives Unified Communications Magazine's 2007 Product of the Year Award
Feb 28, 2008 - PAETEC Holding Corp. Announces Fourth Quarter and Full Year 2007 Results
Feb 20, 2008 - PAETEC to Release Fourth-Quarter and Year-End 2007 Results
Feb 14, 2008 - PAETEC to Present at Investor Conferences
Feb 13, 2008 - PAETEC to Launch Five-City PAETEC Music Tour
Feb 11, 2008 - PAETEC Named One of Top 125 Training Organizations
Feb 08, 2008 - PAETEC Completes Acquisition of McLeodUSA
Feb 08, 2008 - Allworx Wins Multiple 'Best of Show' Awards at INTERNET TELEPHONY Conference and EXPO
Jan 30, 2008 - PAETEC Announces Extension of Expiration Date of Exchange Offer for Senior Notes
Jan 30, 2008 - PAETEC and McLeodUSA Adjourn Special Meetings of Stockholders Until February 8, 2008
Jan 30, 2008 - PAETEC Closes Incremental Term Loan Facility
Jan 04, 2008 - PAETEC to Present at Investor Conferences
Jan 02, 2008 - PAETEC Commences Exchange Offer for its Senior Notes
May 13, 2008 - PAETEC Holding Corp. Announces First Quarter 2008 Results
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FAIRPORT, N.Y. (May 13, 2008) - PAETEC Holding Corp. (NASDAQ GS: PAET) today announced first quarter 2008 financial and operating results. As previously announced, PAETEC completed its acquisition of McLeodUSA Incorporated on February 8, 2008. "2008 is off to a strong start," said PAETEC Chairman and CEO, Arunas A. Chesonis. "We have begun the integration of McLeodUSA, and we continue to be optimistic in terms of our positioning and growth prospects going forward." Highlights of the 2008 first quarter, which included the results of McLeodUSA's operations from February 9, 2008, include the following:
- Revenue of $358.8 million, which represented an 85% increase over first quarter 2007 revenue of $194.0 million;
- Adjusted EBITDA* of $59.5 million, which represented a 74% increase over first quarter 2007 adjusted EBITDA of $34.2 million;
- Net loss of ($3.0) million compared to a net loss of ($5.8) million in first quarter 2007;
- Free cash flow* of $38.1 million, which represented the 21st consecutive quarter in which PAETEC or its predecessor generated positive free cash flow;
- Net cash provided by (used in) operating activities of $2.6 million for the 2008 quarter compared to $(25.1) million for the 2007 quarter; and
- An increase of 43% in the number of access line equivalents in service, from 2.92 million as of December 31, 2007, to 4.19 million as of March 31, 2008.
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May 12, 2008 - PAETEC to Present at Investor Conferences
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FAIRPORT, N.Y. (May 12, 2008) - PAETEC Holding Corp. (NASDAQ GS: PAET) announced today that senior executives are presenting at the following investor conferences.
Morgan Stanley Communications Conference
Washington, DC
Tuesday, May 13, 2:00 p.m. ET
Janco Partners Walkabout Conference
Denver, CO
Wednesday, May 21, 11:30 a.m. MT, 1:30 p.m. ET
Lehman Brothers Worldwide Wireless and Wireline Conference
New York City
Wednesday, May 28, 11:45 a.m. ET
FBR Capital Markets Spring Investor Conference
New York City
Thursday, May 29, 10:30 a.m. ET
Oppenheimer Communications & Technology Conference
Boston, MA
Wednesday, June 4, 10:30 a.m. ET
Deutsche Bank Media & Telecom Conference
New York City
Monday, June 9, 9:10 a.m. ET
Wachovia Nantucket Equity Conference
Nantucket, MA
Wednesday, June 25, 1:00 p.m. ET
A copy of any associated written presentations will be made available on the Investor Relations portion of www.paetec.com.
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications solutions for business customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
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May 07, 2008 - PAETEC to Release First-Quarter Results
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FAIRPORT, N.Y. (February 20, 2008) - PAETEC Holding Corp. (NASDAQ GS: PAET) plans to release its first-quarter 2008 results on Tuesday, May 13, 2008, and will host a conference call that day at 8:30 a.m. ET.
Conference Call details are as follows:
Call Date: May 13, 2008
Call Time: 8:30 a.m. ET
US/Canada Dial in: (800) 259-0251
International (617) 614-3671
Passcode: 74620533
Webcast: www.paetec.com or http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=190031&eventID=1836252
Replay details are as follows:
Replay Dates: May 13, 2008, 10:30 a.m., through May 27, 2008
US/Canada Replay Dial in: (888) 286-8010
International Replay Dial in (617) 801-6888
Replay Passcode: 16788310
Replay Webcast: www.paetec.com or http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=190031&eventID=1836252
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications solutions for business customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
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May 01, 2008 - PAETEC Celebrates a Decade of Dedication to Customers
Company's Rapid Growth Built on Personalized Business-Class Communications
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FAIRPORT, N.Y. (May 1, 2008) - PAETEC Holding Corp., (NASDAQ GS: PAET) today celebrated a decade of dedication to customers by ringing the NASDAQ Stock Exchange's opening bell.
"Ten years ago, a small group of telecom veterans came together with the mission to build the most customer- and employee-oriented communications company in the industry," said Arunas A. Chesonis, PAETEC Chairman and Chief Executive Officer. "By delivering personalized solutions to complex communications challenges, PAETEC has achieved incredible growth, with a $1.7 billion annual revenue run rate and more than 3.5 million access line equivalents in service."
PAETEC's organic growth through the years has been supplemented through strategic acquisitions, and its geographic footprint has expanded dramatically, extending to 82 of the top 100 US Metropolitan Statistical Areas (MSAs) in 2008. The company's national network infrastructure encompasses 77 traditional switching facilities, 39 Internet Protocol (IP) soft switches, and 17,000 local route miles of fiber.
"The last 10 years have been tumultuous years for the communication industry," said Michael Suby, Director of Stratecast, a division of the research firm Frost & Sullivan. "Surviving and thriving communication service providers are those that present a genuine choice in this highly competitive market and continuously listen and respond to their customers. PAETEC epitomizes these attributes."
PAETEC's growth is now fueled by a broad portfolio of data communications services, particularly multi-site MPLS VPN (Multi-Protocol Label Switching Virtual Private Network) and Voice over Internet Protocol (VoIP), as well as Network Security, Dedicated Internet Access and Managed Firewall. The company also has developed multiple value-added offerings that help customers operate more efficiently and achieve the best return on their telecommunications spending.
"We are the premiere alternative to the ILECs, based on our nationwide footprint, breadth of products, and quality of service," said EJ Butler, Jr., the company's Chief Operating Officer. "Our pledge is to continue listening to our customers, as they provide incredibly valuable feedback that we use to refine our service processes and shape our product roadmap."
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications solutions for business customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
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Apr 23, 2008 - PAETEC Presents Highest Vendor Quality Recognition to Oracle
Maestro Award Honors Oracle for Enabling Differentiation
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SAN FRANCISCO (April 23, 2008) - PAETEC Holding Corp., (NASDAQ GS: PAET) today presented a Maestro Quality Award to Oracle (NASDAQ: ORCL). The award, presented during the PAETEC World PINNACLE Users Conference at the Westin St. Francis in San Francisco, is PAETEC's highest honor for recognizing vendor excellence.
"In 2002, PAETEC selected Oracle to help us create a common platform for sales, provisioning, and support," Chesonis said. "As a result, the framework is in place to more easily integrate and make accessible the sales, product, and customer information gained through mergers and acquisitions. This in turn allows us to provide the unmatched service our customers expect."
Oracle's Gorti said, "We are truly honored to receive PAETEC's Maestro Award in recognition of the tangible business benefits our software provides. We look forward to supporting PAETEC further as they deliver the industry's most personalized solutions."
PAETEC also collaborated with Oracle to develop innovative value-added offerings, such as PINNACLE V6, which is PAETEC's next-generation TEM (Telecommunications Expense Management) software.
"Last year, PAETEC re-engineered PINNACLE's Communication Management Suite into an Oracle APEX-based architecture to simplify the entire infrastructure and user experience for our customers," said Larry Foster, Vice President-PAETEC Software.
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications solutions for business customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
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Apr 23, 2008 - PAETEC Announces Commercial Launch of Next-Gen Telecom Expense Management Software
PINNACLE V6 Creates "Services Lifecycle Management" Solution for IT Resources
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FAIRPORT, N.Y. (April 23, 2008) - PAETEC Software Corp., a division of PAETEC Holding Corp. (NASDAQ GS: PAET), today announced the commercial launch of its next-generation PINNACLE Communications Management Suite, a scalable and flexible solution that delivers total Service Lifecycle Management (SLM) for IT resources.
PINNACLE is a fully integrated software application designed for large enterprise customers to enable effective communications lifecycle management and consolidate the management and delivery of all technology-related services.
"One of the major benefits of PINNACLE V6 is real-time business intelligence to proactively manage service support and service-delivery processes," Baron said.
The PINNACLE V6 SLM framework is derived from a suite of certified best-practice processes recognized by the International Standards Organization (ISO). The entire application, from backend data storage to business logic and user interface, is embedded into a single Oracle container so users can easily migrate between hosted, licensed and even outsourced solutions.
PINNACLE V6 already has been successfully deployed by numerous early adopters, enabling them to:
- Efficiently manage the lifecycle of who, what, where, why and how information technology (IT) services are deployed and configured throughout their enterprise
- Gather real-time Business Intelligence to improve operational performance
- Streamline workflow by managing data integrity and security while enabling self-service order fulfillment and electronic billing payment and presentation
- Enforce effective financial management for all service support and delivery activities from procurement to payment and chargeback
- Alleviate cost pressures by integrating PINNACLE with other business systems through an open SOA-based technology framework
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications solutions for business customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
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Apr 17, 2008 - World's Largest Telecom Expense Management Conference to Convene in San Francisco April 22-25
PINNACLE Users Conference Will Showcase Latest Developments in Total Service Lifecycle Management
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FAIRPORT, N.Y. (April 17, 2008) - PAETEC Software Corp., a wholly owned subsidiary of PAETEC Holding Corp. (NASDAQ GS: PAET), today announced that the 14th Annual PINNACLE Users Conference, the world's largest exposition dedicated to Telecom Expense Management (TEM) best practices, will convene next week in San Francisco at the Westin St. Francis hotel.
PINNACLE Communications Management Suite is a fully integrated software application that allows large enterprise customers to achieve effective communications lifecycle management and to consolidate the management and delivery of all technology-related services onto a single platform. PINNACLE Users Conference will give attendees the chance to learn about the latest innovations in next-generation TEM and Service Lifecycle Management.
The conference will demonstrate recent PINNACLE enhancements and will explore best practices for managing the deployment and configuration of IT services, gathering real-time business intelligence to improve operational performance, streamlining workflow, and enforcing effective financial management for all service support and delivery activities.
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications solutions for business customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com. The event kicks off with a Customer Appreciation Event the evening of April 22. PAETEC has rented the entire Union Square for a "Streets of San Francisco" gala that will let attendees sample the delicacies of San Francisco's Chinatown, Fisherman's Wharf and Ghirardelli Square.
For more information, visit http://www.paetec.com/2008_puc/index.html.
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications solutions for business customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
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Apr 15, 2008 - PAETEC Promotes Sanjay Hiranandani to Senior Vice President
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FAIRPORT, N.Y. (April 15, 2008) - PAETEC Holding Corp. (NASDAQ GS: PAET) announced the promotion of Sanjay Hiranandani to Senior Vice President of Engineering, joining PAETEC's leadership team. Previously Mr. Hiranandani was vice president, engineering, and joined the company in 1999.
In this role, Mr. Hiranandani is responsible for the engineering organizations that support PAETEC's new technology infrastructure deployment and world class IP network. His management team leads efforts to engineer the company's core IP network infrastructure and next-generation product sets, and is responsible for all new technology network-based initiatives and technical product development initiatives.
"We are very pleased with the growth of our data products and services such as PAETEC's MPLS VPN (Multi Protocol Label Switching Virtual Private Network) for enterprise customers, which is one of our fastest-growing solutions," said Chris MacFarland, Chief Technology Officer at PAETEC. "Sanjay's contributions to the company have been significant in this area, and his leadership role is critical in evolving PAETEC's network for the future as our IP services continue to grow at a very rapid pace."
Before joining PAETEC, Mr. Hiranandani was employed as Vice President for Advanced Technologies at TeleBeam, Inc. Prior to that, he served as a lead network architect at Cornell University, where he also previously received his Bachelor of Arts degree. He currently resides in the Town of Perinton.
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Apr 11, 2008 - PAETEC Commended by New York Public Service Commission
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FAIRPORT, N.Y. (April 11, 2008) - PAETEC Holding Corp. (NASDAQ GS: PAET) announced that its PAETEC Communications and US LEC Communications operating subsidiaries have received a Commendation from the State of New York Department of Public Service for providing excellent telephone service during 2007. Commendations are based on two metrics, Customer Trouble Report Rate and PSC Complaint Rate.
"Receiving this Commendation is very gratifying for our company, as this is where we are headquartered and have our largest customer and employee base," said Arunas A. Chesonis, chairman and CEO of PAETEC. "This Commendation is due to the hard work and dedicated service provided by the more than 940 PAETEC employees who live and work within New York."
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications solutions for business customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
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Mar 19, 2008 - New RIT/PAETEC Partnership Changes Nature of Academic-Industry Collaboration
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ROCHESTER, N.Y. (March 19, 2008) - Rochester Institute of Technology and PAETEC, the Rochester-based telecommunications company, have entered into a new research agreement that will greatly enhance the transfer of technological innovations to industry and promote regional economic development. The partnership includes $1 million worth of research and development projects over three years and involves faculty and graduate students from numerous RIT colleges. The first project will be initiated out of the College of Applied Science and Technology.
The collaboration is the first project created under RIT's new Corporate R&D program, which seeks to enhance cooperation and technology transfer between academia and industry by allowing businesses to retain rights to intellectual property generated during the research projects. The program has been created from concepts presented in a series of speeches, white papers and op-eds by RIT President Bill Destler, which focus on the need for new paradigms in university-industry collaboration.
"This program will work to change the way universities and companies do business and assist in creating enhanced opportunities for technology transfer, basic research and economic development," Destler says. "I would like to thank PAETEC for being the inaugural member of Corporate R&D at RIT program and look forward to opportunities for additional collaboration in the future."
RIT and PAETEC will focus their collective efforts on the company's Advanced Solution Group, specifically the PINNACLE Communication Management Suite and Allworx VoIP product lines. RIT researchers and the PINNACLE team will tackle a significant challenge that many businesses face, which is how to manage the proliferation of mobile devices, the mobile workforce and lifecycle management. The end goal of the initiative with RIT will be a decrease in costs for business customers associated with managing wireless services and mobile devices.
"Innovation and telecommunications are synonymous with each other, more so today than ever before with the advancement of Internet Protocol and data management technologies," said Jack Baron, president of PAETEC's Advanced Solutions Group. "More than 100 RIT graduates are currently members of the PAETEC family, and many are responsible for developing the solutions we offer for enterprise telephony that no other provider can emulate. The pipeline to local talent has always been strong. We see this as an opportunity to strengthen these ties while benefiting our business in the near-term."
RIT's Corporate R&D program seeks to develop targeted applied research projects between RIT faculty and graduate students with companies in a wide variety of fields. For research projects that fit this model, the company will retain intellectual property developed during the project in exchange for a fee, which is part of the fixed pricing structure for these projects. Under this agreement, RIT will retain the right to publish and conduct further research that builds off of the work. The program seeks to streamline negotiations that often slow collaboration between universities and industry and provide added value to all partners.
Note: Founded in 1829, RIT is an internationally recognized leader in professional and career-oriented education enrolling more than 15,000 students. The university offers 350 programs of study in eight colleges, and has one of the oldest and largest cooperative education programs in the world. RIT's modern, 1,300-acre campus is located in Rochester, the third largest city in New York state.
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications solutions for business customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
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Mar 17, 2008 - Allworx Receives 2008 VON Magazine Innovator Award
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EAST ROCHESTER, N.Y. (March 17, 2008) - Allworx, the small and medium business phone and network solutions company, today announced it has received the 2008 VON Magazine Innovator Award; the foremost listing of innovative companies that represent the future of Internet Communications. Culminating a three-month evaluation process, the VON Innovator Awards identify the most innovative organizations - from start-ups to publicly traded companies - that will shape the future of the communications industry. Today's announcement follows on the heels of a series of impressive industry awards and accolades for Allworx, including TMC's Internet Telephony Magazine Product of the Year and Deloitte's New York Technology Fast 50.
Allworx was recognized by VON Magazine for its multi-faceted VoIP (Voice over Internet Protocol) business communications systems designed to support small and medium businesses with a single or multiple locations and with up to 100 users per location. Allworx' highly acclaimed and award-winning portfolio of SMB products includes the 24x, 10x, and 6x VoIP communications systems, as well as the Allworx 9112 and 9102 phones, and the latest 9212 and 9202 premier IP phones.
"The VON Magazine Innovator Awards recognize the Internet Communications industry's best and brightest companies, and we're excited to include Allworx as an inaugural winner," said Bill Sell, Publisher for VON Media Group. "The selection committee unanimously felt that Allworx stood apart from the large field of companies that participated in the nomination process."
Allworx' flagship 24x offering combines a full-featured phone system with simultaneous support for T-1/PRI, FXO and VoIP trunking options, along with comprehensive networking functionality - delivering a complete solution for even the most demanding SMB organizations. Additionally, available in the 24x, 10x, and 6x systems, Allworx provides a suite of optional software modules including: Call Assistant; Call Queuing; Conference Center; VPN; and Dual language packs with English and Spanish voice prompts.
"All of us at Allworx are honored to be recognized by a high-profile industry publication like VON Magazine for creating and delivering award-winning communications solutions that help small and medium businesses achieve their productivity goals and be everywhere with Allworx," said Sandra Gault, VP Marketing for Allworx. "This award further validates our value to the SMB market and our Channel, and recognizes the inspired work of our dedicated team members."
About the VON Magazine Innovator Awards
Building on the legacy of the Pulver 100, the VON Innovator Awards have evolved to recognize all companies - start-ups to publicly-traded companies - which represent the future of Internet Communications. Each participating company completed a lengthy and comprehensive nomination process, and the recipients have been selected from a committee made up of VON Magazine editors, columnists, and contributors, as well as the leading content producer for the VON.x conferences. The Inaugural VON Magazine Innovator Award winners will be honored at Spring VON.x at 6:00 PM Pacific time on March 18th in the VON Theatre in San Jose. For additional information, please visit: http://vonmag.com/innovators/.
About Allworx
Allworx, a wholly owned subsidiary of PAETEC Holding Corp., develops award-winning, phone and network systems for small and medium-sized businesses through a network of Authorized Resellers. The product line includes the Allworx 24x, 10x, and 6x systems, and Allworx 9200 series and 9100 series phones along with a series of software options. By combining the advanced features of today's VoIP systems with the key system features SMBs have grown to rely on, Allworx systems are ideal replacements for the millions of aging (TDM) PBX and key phone systems in use today. The Allworx Consulting Division delivers elite software and digital hardware engineering services to both large and small companies seeking to enhance and compliment their research and product development capabilities. For more information please visit http://www.allworxcorp.com/.
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Mar 14, 2008 - PAETEC Receives Unified Communications Magazine's 2007 Product of the Year Award
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FAIRPORT, N.Y. (March 14, 2008) - PAETEC Holding Corp. (NASDAQ GS: PAET) announced today that Technology Marketing Corporation's (TMC®) Unified Communications magazine (www.uc-mag.com) has named PAETEC's PINNACLE Communications Management Suite of software as a recipient of its 2007 Product of the Year Award.
"Our customers have very definite needs regarding Telecom Expense Management (TEM), Service Desk automation, Asset Management, and Business to Business (B2B) system integration requirements," said Jack Baron, President of PAETEC's Advanced Solutions Group. "PINNACLE V6 is a revolutionary ERP-type solution that answers those needs in an innovative way and provides all the tools to automate the lifecycle of service management in one integrated platform."
"PAETEC has proven they are committed to quality and excellence while addressing real needs in the marketplace. Unified Communications is pleased to grant a 2007 Product of the Year Award to its PINNACLE solution," said Rich Tehrani, TMC President and Editor-in-Chief of Unified Communications magazine. We're proud to honor their hard work and accomplishments and look forward to more innovative solutions from PAETEC in the future."
A full list of Product of the Year winners will be published in the March 2008 issue of Unified Communications magazine, www.uc-mag.com.
For more information about TMC, please visit www.tmcnet.com.
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications solutions for business customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
About Unified Communications magazine
New in July 2007, Unified Communications magazine is devoted to educating enterprise decision makers on why and how they need to deploy unified communications (UC) solutions. Every issue of Unified Communications magazine features a comprehensive news section; case studies of successful deployments and lessons learned; interviews with leading hardware and software companies; and an 'industry' section, featuring analysis of important mergers and acquisition, partnerships and a Wall Street perspective on the unified communications market. Unified Communications has a subscriber base of 41,509.
About TMC
Technology Marketing Corporation (TMC) is an integrated global media company helping our clients build communities in print, online and in-person. TMC publishes Customer Interaction Solutions, INTERNET TELEPHONY, Unified Communications, and IMS Magazine. TMCnet, TMC's Web site, is the leading source of news and articles for the communications and technology industries. According to Quantcast, TMCnet reaches nearly one million U.S. unique visitors each month. TMCnet serves as many as three million unique visitors globally each month according to Webtrends. TMC is also the first publisher to test new products in its own on-site laboratories, TMC Labs. In addition, TMC produces INTERNET TELEPHONY Conference & EXPO, and Call Center 2.0 Conference. (*alexa.com is an amazon.com company that ranks Web sites by their traffic levels. Neither alexa.com nor amazon.com is affiliated with TMCnet.)
For more information about TMC, visit www.tmcnet.com.
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Feb 28, 2008 - PAETEC Holding Corp. Announces Fourth Quarter and Full Year 2007 Results
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FAIRPORT, N.Y. (February 28, 2008) - PAETEC Holding Corp. (NASDAQ GS: PAET) today announced fourth quarter and full year 2007 financial and operating results. "2007 was an exciting year for PAETEC, finishing on a very positive note with strong fourth quarter results," said PAETEC Chairman and CEO, Arunas A. Chesonis. "2008 marks PAETEC's 10th anniversary, and we plan to see more of the same consistent, high quality growth that our employees, customers, and investors have come to expect from us." Highlights of the 2007 quarter and full year include the following:
- Fourth quarter revenue of $288.6 million, which represented a 91% increase over fourth quarter 2006 revenue of $151.5 million;
- Fourth quarter adjusted EBITDA* of $55.7 million, which represented a 118% increase over fourth quarter 2006 adjusted EBITDA of $25.6 million;
- Fourth quarter free cash flow* of $26.5 million, which represented the 20th consecutive quarter in which PAETEC or its predecessor generated positive free cash flow;
- Fourth quarter net income of $15.5 million compared to fourth quarter 2006 net income of $2.6 million;
- For the year, revenue of $1.04 billion and adjusted EBITDA of $196.2 million, up 78% and 114%, respectively, from 2006;
- For the year, net income of $10.5 million compared to 2006 net income of $7.8 million;
- A year-end cash balance of $112.6 million;
- An increase of 129% in the number of access line equivalents in service, from 1.26 million as of December 31, 2006, to 2.88 million as of December 31, 2007.
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Feb 20, 2008 - PAETEC to Release Fourth-Quarter and Year-End 2007 Results
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FAIRPORT, N.Y. (February 20, 2008) - PAETEC Holding Corp. (NASDAQ GS: PAET) plans to release its fourth-quarter and year-end 2007 results on Thursday, February 28, 2008, and will host a conference call that day at 9:00 a.m. ET.
Conference Call details are as follows:
Call Date: February 28, 2008
Call Time: 9:00 a.m. ET
US/Canada Dial in: (800) 659-2032
International (617) 614-2712
Passcode: 38593358
Webcast: www.paetec.com or http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=190031&eventID=1770697
Replay details are as follows:
Replay Dates: February 28, 2008, 11:00 a.m., through March 13, 2008
US/Canada Replay Dial in: (888) 286-8010
International Replay Dial in (617) 801-6888
Replay Passcode: 16788086
Replay Webcast: www.paetec.com or http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=190031&eventID=1770697
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications solutions for business customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
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Feb 14, 2008 - PAETEC to Present at Investor Conferences
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FAIRPORT, N.Y. (February 14, 2008) - PAETEC Holding Corp. (NASDAQ GS: PAET) announced today that senior executives are presenting at the following investor conferences.
Merrill Lynch Communications Services Forum
New York City
Tuesday, February 26, 1:45 p.m. ET
Raymond James Institutional Conference
Orlando
Tuesday, March 4, 2:15 p.m. ET
Lehman Brothers High Yield Bond and Syndicated Loan Conference
Orlando
Wednesday, March 12, 12:00 p.m. ET
Citi Small & Mid-Cap Conference
Las Vegas
Monday, March 17, 3:00 p.m. MT, 5:00 p.m. ET
Credit Suisse Global Leveraged Finance Conference
Phoenix
Tuesday, March 25, 10:40 a.m. MT, 12:40 p.m. ET
A copy of any associated written presentations will be made available on the Investor Relations portion of www.paetec.com.
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications solutions for business customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
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Feb 13, 2008 - PAETEC to Launch Five-City PAETEC Music Tour
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ROCHESTER, N.Y. (February 13, 2008) - PAETEC, one of the nation's leading business communications companies, is launching a new music tour in five of the country's leading cities - Tampa, Chicago, Charlotte, Baltimore and Dallas.
The PAETEC Music Tour (www.paetecmusictour.com) opens in Tampa, Florida, on Friday, April 4, at the Ford Amphitheatre with the exciting package of Dr. John (5 p.m.), Dickey Betts & Great Southern (6:30 p.m.), and Boz Scaggs (8:30 p.m.), and continues Saturday April 5 with the phenomenal lineup up of Soulive (5 p.m.), George Benson (7 p.m.) and Al Green (8:45 p.m.). Doors open at 4 p.m. Tickets are $10-$75 and go on sale Friday, February 15, at 10 a.m. at the box office of The Ford Amphitheatre at Florida State Fairgrounds, www.patecmusictour.com, www.ticketmaster.com, and all Ticketmaster outlets.
Each Tour city will feature a unique artist lineup. Artists and ticket information for other cities will be announced approximately six to eight weeks prior to each Tour stop. Sign up for enews alerts at www.paetecmusictour.com to receive updates.
The PAETEC Music Tour is an outgrowth of the highly successful PAETEC Jazz Festival, which PAETEC sponsored in Baltimore last August 9-11. The event drew more than 25,000 people and sold out headliner events, prompting the company to expand its reach, and sponsor a tour encompassing additional cities.
"Last year's festival in Baltimore exceeded all of our expectations in respect to the quality of the event, the upbeat response by the city and attendees, and the positive exposure for our company," said PAETEC Chairman and CEO Arunas A. Chesonis. "Our goal this year is to create similar cultural events in more locations. I personally can't wait to enjoy what these cities have to offer and, in turn, share how important these markets are to PAETEC's success."
Tour Schedule
April 4th and 5th, Tampa, Florida, Ford Amphitheatre
July 11th and 12th, Chicago, Illinois, Charter One Pavilion
August 1st and 2nd, Charlotte, North Carolina, Bobcats Arena
August 15th and 16th, Baltimore, Maryland, Pier Six Concert Pavilion
September 12th and 13th, Dallas, Texas, Superpages.com Center
PAETEC offers its personal approach and comprehensive suite of data, voice, and IP-based solutions to more than 80 percent of the top Metropolitan Service Areas in the U.S. PAETEC selected the Tour cities based on its growing and dynamic business presence in those areas.
The new PAETEC Music Tour will feature an inclusive scope of genres including rhythm and blues, jazz, soul and more. Two to three acts will be presented nightly in a double or triple bill for one entry price.
The Tour is produced by John Nugent and Marc Iacona, producers of the fast-growing and critically-acclaimed Rochester International Jazz Festival, which drew more than 121,000 people last year.
Tickets
Tickets will go on sale approximately six to eight weeks prior to each tour stop. For information on concert schedules and artist information when announced in each city visit www.paetecmusictour.com and sign up for news alerts.
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications solutions for business customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
About PAETEC Music Tour
PAETEC Music Tour is produced by RIJF LLC for PAETEC. RIJF LLC is based in Rochester New York. Its principals, John Nugent, Producer and Artistic Director and Marc Iacona, Producer and Executive Director, produce the Rochester International Jazz Festival, now in its seventh year and scheduled for June 13-21, 2008. Nugent also produces the Stockholm Jazz Festival, now in its 25th year. The team also produced the PAETEC Jazz Festival in Baltimore.
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Feb 11, 2008 - PAETEC Named One of Top 125 Training Organizations
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FAIRPORT, N.Y. (February 11, 2008) - PAETEC Holding Corp. (NASDAQ: PAET) announced that for the second consecutive year, Training magazine has named it to the Training Top 125, an exclusive list of the leading internal training organizations in the world. The company ranked #66, an improvement of 31 spots from the 2007 list.
"We're proud to receive this honor two years in a row. It shows a consistency in our ability to train even as our company grows from a regional player to one with a national presence," said Dan Reinbold, vice president of training for PAETEC. "We brought on more than 200 sales representatives and management in 2007 through our merger with US LEC and we were able to train them on PAETEC's products, systems, and technology in such a way as to allow them to be successful."
To be eligible for the list, companies were required to complete an in-depth nomination form, including such fundamental questions as leadership development, employee turnover and retention rates, and how training is tied to business objectives for all departments. Training magazine then used an outside research and statistical data company to score companies based on the information provided. Magazine editors then reviewed each application to determine final rankings.
"PAETEC is particularly proud of this accomplishment as the leaders in this field are acknowledged world-class companies," Reinbold said. For example, the top five companies on the list were, in order, Pricewaterhouse-Coopers LLP, EMC Corp., Wyeth Pharmaceuticals, Verizon Wireless, and KPMG LLP.
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications solutions for business customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
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Feb 08, 2008 - PAETEC Completes Acquisition of McLeodUSA
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FAIRPORT, N.Y., and CEDAR RAPIDS, IOWA (February 8, 2008) - PAETEC Holding Corp. (NASDAQ GS: PAET) today announced that it has completed its acquisition of privately owned McLeodUSA Incorporated. The closing occurred today following approval of the transaction by the stockholders of both companies at special meetings held earlier in the day.
"Businesses across America now have another choice when selecting an end-to-end solution, including network access, transport, and equipment," said Arunas A. Chesonis, chairman and chief executive officer of PAETEC. "PAETEC's coast-to-coast geographic footprint offers a truly nationwide alternative to the legacy carriers."
PAETEC now has nearly 4,000 employees and will have a presence in 82 of the top 100 Metropolitan Statistical Areas by the end of 2008. The company offers an extensive suite of data, IP, and voice services, as well as enterprise communications management software, network security solutions, customer premises equipment, and managed services.
"The employees of McLeodUSA have worked with tremendous dedication to revitalize the company by focusing on IP-based services for businesses, and in doing so have created a valuable strategic partner for PAETEC," said Royce Holland, who had served as McLeodUSA's chief executive officer. "The combined company will be a strong national competitor in the market for business communications."
Based on the results of each company for the last twelve months ended September 30, 2007, the combined company should be generating annual revenue of at least $1.6 billion and have more than 3.5 million access line equivalents. The acquisition should benefit PAETEC's network with increased optimization through approximately 17,000 route miles of fiber, as well as the ability to provide more on-net interfaces and additional Internet peering points.
"Not only should our network run more efficiently, but we are also organizing our delivery of services to maintain a personal touch as we continue to grow nationally," said E.J. Butler, Jr., chief operating officer for PAETEC. "As part of these efforts, we have reorganized into a regional sales structure to ensure continued focus on our customers."
Additional information about the transaction will be contained in PAETEC's current report on Form 8-K to be filed with the Securities and Exchange Commission.
Forward-Looking Statements
Except for statements that present historical facts, this release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. In some cases, you can identify these statements by such forward-looking words as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "should," "will" and "would," or similar expressions. These statements, which include statements regarding expected revenue, access line equivalents, network efficiencies and number of markets of the combined company, and the anticipated competitive position of the combined company, involve known and unknown risks, uncertainties and other factors that may cause PAETEC's actual operating results, financial position, levels of activity or performance to be materially different from those expressed or implied by such forward-looking statements. Some of these risks, uncertainties and factors are discussed under the caption "Risk Factors" in PAETEC's 2006 Annual Report on Form 10-K and in PAETEC's subsequently filed SEC reports. They include, but are not limited to, the following risks, uncertainties and other factors: changes in regulation and the regulatory environment and adverse rulings in pending regulatory proceedings; competition in the markets in which PAETEC operates; the continued availability of necessary network elements and special access services at acceptable cost from competitors; PAETEC's ability to manage and expand its business, to execute its acquisition strategy, to integrate the operations of acquired companies, and to realize cost savings, operating efficiencies and new revenue opportunities expected from business acquisitions; PAETEC's ability to adapt its product and service offerings to changes in customer preferences and to convert its existing network to a network with more advanced technology; legal proceedings regarding intellectual property rights and other matters that may affect PAETEC's operations; effects of network failures, systems breaches, natural catastrophes and other service interruptions; and PAETEC's ability to service its indebtedness and to raise capital in the future. PAETEC disclaims any obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications solutions for business customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
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Feb 08, 2008 - Allworx Wins Multiple 'Best of Show' Awards at INTERNET TELEPHONY Conference and EXPO
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EAST ROCHESTER, N.Y. (February 8, 2008) - Allworx, the small business phone and network solutions company, today announced that Technology Marketing Corporation (TMC) has honored Allworx with multiple Best-of-Show awards for the INTERNET TELEPHONY Conference & EXPO, which was held January 23-25 at the Miami Beach Convention Center in Miami, FL. Allworx received awards for the "Best SMB Solution," as well as the "Best Booth" award. In addition to these show-specific awards, Allworx also recently received TMC's "2007 Product of the Year Award" for its Allworx 24x VoIP Communications System.
TMC's awards recognize innovative technology, creative product feature sets, and impressive presentation to attendees at the conference. Each winner displayed and demonstrated their products on the INTERNET TELEPHONY Conference & EXPO exhibit floor. Awards were determined by a panel of judges who visited with exhibitors, viewed product demos, and interviewed company staff.
"We launched our new and innovative 9200 phone series at ITEXPO, and the event provided a great venue for showcasing all of our offerings to customers, partners, and prospects," said George Daddis, President of Allworx. "We're off to a great start for the new year - having received five industry awards in January. We feel that Allworx provides the SMB industry with the best overall communications solutions, and we're pleased to see multiple industry sources - including TMC - validate our efforts through their awards programs."
Allworx' award winning portfolio of SMB products include the 6x and 24x VoIP communications systems, as well as the Allworx 9112, 9102, IP phones and new premier 9200 IP phone series, which was unveiled at ITEXPO. Additional award-winning Allworx offerings include a series of software options including: Call Assistant; Call Queuing; Conference Center; and Dual language packs with English and Castilian Spanish voice prompts.
"Allworx did a fantastic job in marketing itself at ITEXPO, with a top notch product launch, participation in our conference program, and a creative use of booth space, including the first-ever use of a high-end luxury bus driven onto the show floor to highlight their key message of 'Be Everywhere with Allworx' and allow them to conduct private meetings and product demonstrations," said Rich Tehrani, TMC President and Editor-in-Chief of INTERNET TELEPHONY magazine. "Allworx certainly added to the success and fun of ITEXPO, and we're looking forward to another great showing with them at ITEXPO West this Fall in Los Angeles."
A complete list of Best of Show Award winners is available at http://www.tmcnet.com/news/2008/02/01/3244325.htm.
About TMC®:
Technology Marketing Corporation (TMC) publishes: Customer Inter@ction Solutions, INTERNET TELEPHONY, Unified Communications, and IMS Magazine. TMCnet, TMC's Web site, is the leading source of news and articles for the communications and technology industries. Ranked in the top 7,000 sites in the world by alexa.com*, TMCnet serves 2-3 million unique visitors each month. TMC is also the first publisher to test new products in its own on-site laboratories, TMC Labs. In addition, TMC produces INTERNET TELEPHONY Conference & EXPO, and Call Center 2.0 Conference. For more information about TMC, visit www.tmcnet.com (*alexa.com is an amazon.com company that ranks Web sites by their traffic levels. Neither alexa.com nor amazon.com is affiliated with TMCnet.)
INTERNET TELEPHONY Conference & EXPO, held twice a year, is the leading event focused on IP Communications and IP telephony-based solutions. The conference attracts service providers, small and large enterprises, and government agencies seeking equipment and services; as well as developers and resellers. The East 2008 event was the 17th conducted by TMC®. For more information about the show or any of the winners, visit www.itexpo.com.
About Allworx:
Allworx, a wholly owned subsidiary of PAETEC Holding Corp., develops award winning, phone and network systems for small-to-medium sized businesses through a network of Authorized Resellers. The product line includes the Allworx 6x, 10x and 24x systems, and Allworx' premier 9200 and 9100 phone series along with a series of software options. By combining the advanced features of today's VoIP systems with the key system features SMBs have grown to rely on, Allworx systems are ideal replacements for the millions of aging (TDM) PBX and key phone systems in use today. The Allworx Consulting Division delivers elite software and digital hardware engineering services to both large and small companies who want to enhance and compliment their research and product development capabilities. For more information please visit www.allworx.com.
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Jan 30, 2008 - PAETEC Announces Extension of Expiration Date of Exchange Offer for Senior Notes
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FAIRPORT, N.Y. (January 30, 2008) - PAETEC Holding Corp. (NASDAQ GS: PAET) today announced that it has extended the expiration date of its offer to exchange its 9.5% Senior Notes due 2015, which were sold in July 2007 pursuant to Rule 144A and Regulation S of the Securities Act of 1933, as amended (the "Securities Act"), for an equal amount of newly issued 9.5% Senior Notes due 2015. The new notes have substantially identical terms as the original notes, except the new notes have been registered under the Securities Act. PAETEC has extended the offer in order to provide the holders of notes with sufficient time to review a supplement to the prospectus dated December 31, 2007 concerning the exchange offer. The supplement to the prospectus, which is being mailed beginning today to holders of the notes, will include information about PAETEC's recent incremental term loan financing and a recent legal proceeding filed against PAETEC.
The exchange offer was originally scheduled to expire at 5:00 p.m. New York City time, on February 1, 2008. The exchange offer is now scheduled to expire at 5:00 p.m., New York City time, on February 6, 2008. Except for the extension of the exchange offer as described herein, the terms of the exchange offer remain as described in the prospectus dated December 31, 2007. You will continue to have the right to withdraw tenders of notes at any time prior to the expiration of the exchange offer.
The terms of the exchange offer and other information relating PAETEC are set forth in the prospectus dated December 31, 2007, as supplemented by the prospectus supplement dated January 30, 2008. Copies of the prospectus, the prospectus supplement and the related letter of transmittal may be obtained from The Bank of New York, which is serving as the exchange agent in connection with this exchange offer. The Bank of New York's address, telephone number and facsimile number are as follows:
The Bank of New York
101 Barclay Street
Reorganization Unit 7E
New York, New York 10286
Phone: (212) 815-5098
Facsimile: (212) 298-1915
An effective registration statement (including the prospectus and the prospectus supplement) is on file with the SEC and a copy of the registration statement (including the prospectus and the prospectus supplement) is also available on the SEC's website, www.sec.gov.
This press release shall not constitute an offer to exchange nor a solicitation of an offer to exchange the original notes. The exchange offer is made only by the prospectus dated December 31, 2007, as supplemented by the prospectus supplement dated January 30, 2008.
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing business communications for medium-sized and large businesses, enterprise organizations and institutions across the United States. We offer a comprehensive suite of voice, data, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
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Jan 30, 2008 - PAETEC and McLeodUSA Adjourn Special Meetings of Stockholders Until February 8, 2008
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FAIRPORT, N.Y. (January 30, 2008) - PAETEC Holding Corp. (NASDAQ GS: PAET) and privately owned McLeodUSA Incorporated today announced that each company has adjourned its special meeting of stockholders held today to vote on their proposed merger transaction until February 8, 2008 to provide the stockholders of each company with sufficient time to review a supplement to the joint proxy statement/prospectus concerning the transaction. The supplement, which is being mailed beginning today to holders of record of the common stock of each company as of December 18, 2007, will include information about PAETEC's recent incremental term loan financing and a recent legal proceeding filed against PAETEC.
PAETEC will reconvene its special meeting on February 8, 2008, at 9:00 a.m., Eastern Time, at The Lodge at Woodcliff located at 199 Woodcliff Drive, Fairport, New York. At the reconvened PAETEC special meeting, holders of PAETEC common stock will be asked to consider and vote upon the proposals set forth in the notice of special meeting of stockholders of PAETEC set forth in the joint proxy statement/prospectus, including the proposal to approve the issuance of PAETEC common stock to the stockholders of McLeodUSA in connection with the merger pursuant to the merger agreement.
McLeodUSA will reconvene its special meeting on February 8, 2008, at 8:00 a.m., Central Time, at the offices of McLeodUSA located at 16479 Dallas Parkway, Suite 700, Bent Tree Towers II, Dallas, Texas. At the reconvened McLeodUSA special meeting, holders of McLeodUSA common stock will be asked to consider and vote upon the matters set forth in the notice of special meeting of stockholders of McLeodUSA set forth in the joint proxy statement/prospectus, including the proposal to approve the transactions contemplated by the merger agreement.
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing business communications for medium-sized and large businesses, enterprise organizations and institutions across the United States. We offer a comprehensive suite of voice, data, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
About McLeodUSA
McLeodUSA provides managed IP-based communications services to small and medium-sized enterprises, and traditional circuit-switched telephony services to commercial customers in the Midwest, Rocky Mountain, Southwest and Northwest regions of the nation. McLeodUSA delivers a wide variety of broadband IP-based voice and data solutions, targeting primarily small and medium-sized enterprises and multilocation commercial customers. For more information, visit www.McLeodUSA.com.
Additional Information and Where to Find it
PAETEC Holding Corp. has filed with the SEC a registration statement on Form S-4 (File No. 333-148172), which contains a joint proxy statement/prospectus regarding the proposed merger transaction, as well as other relevant documents concerning the transaction. WE URGE INVESTORS AND SECURITY HOLDERS TO READ THE REGISTRATION STATEMENT AND JOINT PROXY STATEMENT/PROSPECTUS AND THESE OTHER DOCUMENTS, INCLUDING THE SUPPLEMENT TO THE JOINT PROXY STATEMENT/PROSPECTUS, AS THEY BECOME AVAILABLE, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT PAETEC, MCLEODUSA INCORPORATED AND THE PROPOSED TRANSACTION. A definitive joint proxy statement/prospectus has been sent to PAETEC's stockholders seeking their approval of PAETEC's issuance of shares in the transaction and to McLeodUSA Incorporated stockholders seeking their approval of the merger agreement and the merger transaction. Investors and security holders may obtain a free copy of the registration statement and joint proxy statement/prospectus and other documents filed by PAETEC with the SEC at the SEC's web site at www.sec.gov. Free copies of PAETEC's SEC filings are available on PAETEC's web site at www.paetec.com and also may be obtained without charge by directing a request to PAETEC Holding Corp., One PAETEC Plaza, Fairport, New York 14450, Attn: Investor Relations.
PAETEC and its directors and executive officers may be deemed, under SEC rules, to be participants in the solicitation of proxies from PAETEC's stockholders with respect to the proposed transaction. Information regarding PAETEC's directors and executive officers is included in its annual report on Form 10-K filed with the SEC on April 2, 2007. More detailed information regarding the identity of potential participants and their direct or indirect interests in the transaction, by securities holdings or otherwise, is set forth in the registration statement and joint proxy statement/prospectus and other documents filed with the SEC in connection with the proposed transaction.
This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
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Jan 30, 2008 - PAETEC Closes Incremental Term Loan Facility
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FAIRPORT, N.Y. (January 30, 2008) - PAETEC Holding Corp. (NASDAQ GS: PAET) announced today that it has raised $100 million due 2013 through an incremental term loan facility under its existing term and revolving loan credit agreement. After giving effect to the incremental term loan funding, PAETEC had outstanding under the credit agreement term loans in a total principal amount of $595.5 million. The incremental term loan facility was funded on January 29, 2008.
Borrowings under the incremental term loan facility may be used for working capital, capital expenditures, and other general corporate purposes of PAETEC Holding and its subsidiaries. PAETEC may apply a portion of the proceeds from the facility toward the satisfaction, as of the closing of PAETEC's proposed merger transaction with McLeodUSA Incorporated, of McLeodUSA's outstanding 10 1/2% Senior Second Secured Notes due 2011.
Additional information about the new facility will be contained in PAETEC's filing on Form 8-K with the Securities and Exchange Commission.
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing business communications for medium-sized and large businesses, enterprise organizations and institutions across the United States. We offer a comprehensive suite of voice, data, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
Additional Information and Where to Find it
PAETEC Holding Corp. has filed with the SEC a registration statement on Form S-4 (File No. 333-148172), which contains a joint proxy statement/prospectus regarding the proposed merger transaction, as well as other relevant documents concerning the transaction. WE URGE INVESTORS AND SECURITY HOLDERS TO READ THE REGISTRATION STATEMENT AND JOINT PROXY STATEMENT/PROSPECTUS AND THESE OTHER DOCUMENTS, INCLUDING THE SUPPLEMENT TO THE JOINT PROXY STATEMENT/PROSPECTUS, AS THEY BECOME AVAILABLE, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT PAETEC, MCLEODUSA INCORPORATED AND THE PROPOSED TRANSACTION. A definitive joint proxy statement/prospectus has been sent to PAETEC's stockholders seeking their approval of PAETEC's issuance of shares in the transaction and to McLeodUSA Incorporated stockholders seeking their approval of the merger agreement and the merger transaction. Investors and security holders may obtain a free copy of the registration statement and joint proxy statement/prospectus and other documents filed by PAETEC with the SEC at the SEC's web site at www.sec.gov. Free copies of PAETEC's SEC filings are available on PAETEC's web site at www.paetec.com and also may be obtained without charge by directing a request to PAETEC Holding Corp., One PAETEC Plaza, Fairport, New York 14450, Attn: Investor Relations.
PAETEC and its directors and executive officers may be deemed, under SEC rules, to be participants in the solicitation of proxies from PAETEC's stockholders with respect to the proposed transaction. Information regarding PAETEC's directors and executive officers is included in its annual report on Form 10-K filed with the SEC on April 2, 2007. More detailed information regarding the identity of potential participants and their direct or indirect interests in the transaction, by securities holdings or otherwise, is set forth in the registration statement and joint proxy statement/prospectus and other documents filed with the SEC in connection with the proposed transaction.
This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
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Jan 04, 2008 - PAETEC to Present at Investor Conferences
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FAIRPORT, N.Y. (January 4, 2008) - PAETEC Holding Corp. (NASDAQ GS: PAET) announced today that Chief Financial Officer Keith Wilson is presenting at the following investor conferences.
Citi Global Entertainment, Media, and Telecommunications Conference
Phoenix
Tuesday, January 8, 3:10 p.m. MT, 5:10 p.m. ET
Needham Tenth Annual Growth Stock Conference
New York City
Thursday, January 10, 1:30 p.m. ET
JPMorgan Global High Yield and Leveraged Finance Conference
Miami
Thursday, January 24, 11:00 a.m. ET
Thomas Weisel Partners Technology, Telecom & Internet Conference
San Francisco
Thursday, February 7, 8:35 a.m. PT, 11:35 a.m. ET
A copy of the presentations will be made available on the Investor Relations portion of www.paetec.com.
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing business communications for medium-sized and large businesses, enterprise organizations and institutions across the United States. We offer a comprehensive suite of voice, data, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
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Jan 02, 2008 - PAETEC Commences Exchange Offer for its Senior Notes
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FAIRPORT, N.Y. (January 2, 2008) - PAETEC Holding Corp. (NASDAQ GS: PAET) announced today that it has commenced an offer to exchange its 9.5% Senior Notes due 2015, which were sold in July 2007 pursuant to Rule 144A and Regulation S of the Securities Act of 1933, as amended (the "Securities Act"), for an equal amount of newly issued 9.5% Senior Notes due 2015. The new notes have substantially identical terms as the original notes, except that the new notes have been registered under the Securities Act.
PAETEC will accept for exchange any and all original notes validly tendered and not withdrawn prior to 5:00 p.m. New York City time on February 1, 2008 (the "expiration time"), unless extended. Tenders of original notes may be withdrawn at any time prior to the expiration time.
The terms of the exchange offer and other information relating to PAETEC are set forth in the prospectus dated December 31, 2007. Copies of the prospectus and the related letter of transmittal may be obtained from The Bank of New York, which is serving as the exchange agent in connection with this exchange offer. The Bank of New York's address, telephone number and facsimile number are as follows:
The Bank of New York
101 Barclay Street
Reorganization Unit 7E
New York, New York 10286
Phone: (212) 815-5098
Facsimile: (212) 298-1915
An effective registration statement (including the prospectus) is on file with the SEC and a copy of the registration statement (including the prospectus) is also available on the SEC's website, www.sec.gov.
This press release shall not constitute an offer to exchange nor a solicitation of an offer to exchange the original notes. The exchange offer is made only by the prospectus dated December 31, 2007.
About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing business communications for medium-sized and large businesses, enterprise organizations and institutions across the United States. We offer a comprehensive suite of voice, data, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
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