RESTON, Va.-XO Communications Inc. will offer up to 43.3 million shares of its new common stock as part of its plan of reorganization, according to a statement in a recent filing with the Securities and Exchange Commission. The company said the rights offering will be made exclusively to its pre-bankruptcy security holders and creditors as of Nov. 15, 2002, at a price of $5 per share.
XO to offer shares to pre-bankruptcy creditors
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