0001158324 false DC 0001158324 2021-04-06 2021-04-06 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of Earliest Event Reported):     April 6, 2021

 

Cogent Communications Holdings, Inc.

(Exact name of registrant as specified in its charter)

 

 

Delaware   001-51829   46-5706863
(State or other jurisdiction
of incorporation)
  (Commission
File Number)
  (IRS Employer
Identification No.)

 

 

2450 N St NW,
Washington, D.C.
  20037
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code:     202-295-4200

 

Not Applicable

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class   Trading Symbol   Name of Each Exchange on which Registered
Common Stock, par value $0.001 per share   CCOI   NASDAQ Global Select Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company   ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

Item 7.01.  Regulation FD Disclosure.

 

On April 6, 2021, Cogent Communications Group, Inc. (“Cogent”), a wholly owned subsidiary of Cogent Communications Holdings, Inc. (the “Company”), issued a notice of conditional partial redemption (the “Notice of Redemption”) with respect to its 5.375% senior secured notes due 2022 (the “Notes”). Pursuant to the Notice of Redemption, Cogent gave holders of the Notes notice that, subject to the satisfaction of specific conditions precedent stated therein, it will redeem $45,000,000 aggregate principal amount of the outstanding Notes on May 6, 2021 (the “Redemption Date”). On the Redemption Date, $45,000,000 aggregate principal amount of the Notes will be redeemed at a redemption price equal to (i) 100.0% of the principal amount of the Notes, which will be $1,000.00 per $1,000 aggregate principal amount of Notes to be redeemed, plus (ii) the Make-Whole Amount (as defined in the indenture governing the Notes), which will be $41.41533 per $1,000 aggregate principal amount of Notes to be redeemed if redeemed on the Redemption Date, plus (iii) accrued and unpaid interest thereon, if any, to (but not including) the Redemption Date, which will be $9.70486 per $1,000 aggregate principal amount of Notes to be redeemed if redeemed on the Redemption Date. Following the redemption, $284,080,000 in aggregate principal amount of the Notes will remain outstanding.

 

As permitted by the terms of the Notes, the Notice of Redemption and the redemption of the Notes are conditioned upon the satisfaction of certain conditions precedent, which are described in the Notice of Redemption. Cogent will be entitled to delay, and may delay, the redemption of the Notes until such time as such conditions precedent are satisfied. There can be no assurance that the redemption of the Notes will be consummated.

 

This Current Report on Form 8-K does not constitute a notice of redemption with respect to the Notes. The Notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any other jurisdiction, and may not be offered or sold absent registration or an applicable exemption from the registration requirements of the Securities Act or the securities laws of any other jurisdiction. Cogent called the Notes for redemption only by, and pursuant to the terms of, the Notice of Redemption.

 

The information contained in this Item 7.01 of this Current Report on Form 8-K is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing.

 

Forward-Looking Statements

 

Except for historical information and discussion contained herein, statements contained in this Current Report on Form 8-K, including those with respect to the redemption of the Notes, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to statements identified by words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” “projects” and similar expressions. The statements in this Current Report are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, among others, the impact of the COVID-19 pandemic and the related government policies; future economic instability in the global economy or a contraction of the capital markets which could affect spending on Internet services and our ability to engage in financing activities; the impact of changing foreign exchange rates (in particular the Euro to U.S. dollar and Canadian dollar to U.S. dollar exchange rates) on the translation of our non-USD denominated revenues, expenses, assets and liabilities; legal and operational difficulties in new markets; the imposition of a requirement that we contribute to the U.S. Universal Service Fund on the basis of our Internet revenue; changes in government policy and/or regulation, including net neutrality rules by the United States Federal Communications Commission and in the area of data protection; increasing competition leading to lower prices for our services; our ability to attract new customers and to increase and maintain the volume of traffic on our network; the ability to maintain our Internet peering arrangements on favorable terms; our reliance on an equipment vendor, Cisco Systems Inc., and the potential for hardware or software problems associated with such equipment; the dependence of our network on the quality and dependability of third-party fiber providers; our ability to retain certain customers that comprise a significant portion of our revenue base; the management of network failures and/or disruptions; and outcomes in litigation; as well as other risks discussed from time to time in the Company’s filings with the Securities and Exchange Commission, including, without limitation, the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020. The Company undertakes no duty to update any forward-looking statement or any information contained in this Current Report or in other public disclosures at any time.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated:  April 6, 2021

 

  Cogent Communications Holdings, Inc.
     
  By: /s/ David Schaeffer
    Name: David Schaeffer
    Title:   President and Chief Executive Officer