Pac-West Telecomm Announces Extension of Exchange Offer and Consent Solicitation
23 Januar 2007 - 11:21PM
PR Newswire (US)
STOCKTON, Calif., Jan. 23 /PRNewswire-FirstCall/ -- Pac-West
Telecomm, Inc. (OTC:PACW.PK), a leading provider of next generation
and traditional voice communications services, today announced that
it has extended its offer to exchange any and all of its
outstanding 13 1/2% Senior Notes due 2009 for newly issued 13 1/2%
Senior Priority Notes due 2009 and its solicitation of consents to
an amendment to the indenture governing the Senior Notes. The
exchange offer and consent solicitation will now expire at 5:00
p.m., New York City time, on January 29, 2007, unless further
extended by the Company. As of 5:00 p.m., New York City time, on
January 23, 2007, approximately $24,311,000 in aggregate principal
amount, or approximately 67.34% of the outstanding Senior Notes had
been properly tendered as part of the exchange offer and consent
solicitation. All other terms and conditions of the exchange offer
and consent solicitation will remain in full force and effect. This
communication is not an offer to exchange Senior Notes for Senior
Priority Notes or a solicitation of an offer to exchange Senior
Notes for Senior Priority Notes or a solicitation of consents with
respect to the Senior Notes. The consent solicitation and offer to
exchange Senior Notes for Senior Priority Notes are being made
solely by means of an offering circular and consent solicitation
statement and other documents provided to holders of the Senior
Notes. About Pac-West Telecomm, Inc. Pac-West is a provider of
advanced communications services that enable traditional and
next-generation providers, carriers, and service providers to
efficiently design, deploy, and deliver integrated communication
solutions. Currently, Pac-West has operations in California,
Nevada, Washington, Arizona, Utah, Oregon, Idaho, Washington D.C.,
Colorado, Pennsylvania, Florida, Maryland, New Jersey, North
Carolina, South Carolina, New York and Alabama. Founded in 1980,
Pac-West Telecomm, Inc. has been offering communication services to
its customers since 1982 and has been a leading provider of
wholesale services to Internet Service Providers. For more
information, visit http://www.pacwest.com/ . Forward-Looking
Statements In this press release, our use of the words "outlook,"
"expect," "anticipate," "estimate," "forecast," "project,"
"likely," "objective," "plan," "designed," "goal," "target," and
similar expressions is intended to identify forward-looking
statements. While these statements represent our current judgment
on what the future may hold, and we believe these judgments are
reasonable, actual results may differ materially due to numerous
important risk factors, including risk factors described in our
Annual Report on Form 10-K for the period ended December 31, 2005,
as filed with the SEC on March 29, 2006, which may be revised or
supplemented in subsequent reports filed by us with the SEC. Such
risk factors include, but are not limited to risks associated with:
our level of indebtedness; our inability to comply with the
covenants contained in, or the possibility of triggering a default
under, our borrowing arrangements, our inability to execute our
business plans and objectives, regulatory and legal uncertainty
with respect to intercarrier compensation payments received by us;
the migration to broadband Internet access affecting dial-up
Internet access; the loss of key executive officers that could
negatively impact our business prospects; an increase in our
network expenses; our principal competitors for local services and
potential additional competitors, which may have advantages that
may adversely affect our ability to compete with them. DATASOURCE:
Pac-West Telecomm, Inc. CONTACT: Reid Cox of Pac-West,
+1-209-926-3417, or Web site: http://www.pacwest.com/
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