Cogent Communications to List on American Stock Exchange as COI
WASHINGTON, D.C., January 30, 2002 - Cogent Communications Group, Inc., a Tier One, next-generation optical ISP announced today that it has been approved for listing on the American Stock Exchange. The Exchange's Committee on Securities determined, due to a number of factors, including Cogent's compliance with all other applicable guidelines, that Cogent substantially complies with the applicable listing eligibility guidelines and should be approved for listing even though it does not fully meet the $15 million guideline for market value of public float based on the current market value of Allied Riser's public float.
The Exchange's approval remains subject to certain conditions, including the successful completion of Cogent's acquisition of Allied Riser Communications Corporation. Pending approval of the transaction by Allied Riser's stockholders at their special meeting on January 31, Cogent expects to complete its acquisition of Allied Riser later that day, at which time it expects it will meet the Exchange's conditions for listing. Once listed on the American Stock Exchange, Cogent will trade under the symbol COI.
About Cogent Communications
Cogent Communications is a next generation optical ISP focused on delivering ultra-high speed Internet access and transport services to businesses in the multi-tenant marketplace and to service providers located in major metropolitan areas throughout the United States. Cogent's signature service offered to commercial end-users of 100 Mbps for $1,000, offers 100 times the observed bandwidth of a T-1 connection at two-thirds of the cost. The Cogent Solution makes ultra-high speed Internet access an affordable reality for small and medium-sized businesses, as well as large enterprises and service providers. Cogent's facilities-based, all-optical end-to-end IP network enables non-oversubscribed 100 Mbps and 1000 Mbps connectivity for radically low, unmetered pricing levels.
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