As Filed with the Securities and Exchange Commission on April 2, 2001.
Registration No. 333-51720
================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 2
TO
FORM S-3
REGISTRATION STATEMENT
UNDER THE
SECURITIES ACT OF 1933
HIGH SPEED ACCESS CORP.
(Exact name of registrant as specified in its charter)
DELAWARE 61-1324009
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
10901 WEST TOLLER DRIVE
LITTLETON, COLORADO 80127
(720) 922-2500
(Address, including ZIP code, and telephone number, including area code,
of registrant's principal executive offices)
CHARLES E. RICHARDSON, III.
SECRETARY AND GENERAL COUNSEL
10901 W. TOLLER DRIVE
LITTLETON, COLORADO 80127
(720) 922-2500
(Name, address, including ZIP code, and telephone number,
including area code, of agent for service)
Copy to:
JEREMY DICKENS, ESQ.
WEIL, GOTSHAL & MANGES LLP
767 FIFTH AVENUE
NEW YORK, NEW YORK 10153
(212) 310-8000
APPROXIMATE DATE OF COMMENCEMENT OF PROPOSED SALE TO THE PUBLIC: From
time to time after this Registration Statement becomes effective.
If the securities being registered on this form are being offered
pursuant to dividend or interest reinvestment plans, please check the following
box. [ ]
If the securities being registered on this form are to be offered on
a delayed or continuous basis pursuant to Rule 415 under the Securities Act of
1933, please check the following box. [X]
If this form is filed to register additional securities for an
offering pursuant to Rule 462(b) under the Securities Act, please check the
following box and list the Securities Act registration number of the earlier
effective registration statement for the same offering. [ ]
If this form is a post-effective amendment filed pursuant to Rule
462(c) under the Securities Act, check the following box and list the Securities
Act registration statement number of the earlier effective registration
statement for the same offering. [ ]
If delivery of the prospectus is expected to be made pursuant to Rule
434, please check the following box. [ ]
THE REGISTRANT HEREBY AMENDS THIS REGISTRATION STATEMENT ON SUCH DATE OR DATES
AS MAY BE NECESSARY TO DELAY ITS EFFECTIVE DATE UNTIL THE REGISTRANT SHALL FILE
A FURTHER AMENDMENT WHICH SPECIFICALLY STATES THAT THIS REGISTRATION STATEMENT
SHALL THEREAFTER BECOME EFFECTIVE IN ACCORDANCE WITH SECTION 8(A) OF THE
SECURITIES ACT OF 1933 OR UNTIL THE REGISTRATION STATEMENT SHALL BECOME
EFFECTIVE ON SUCH DATE AS THE COMMISSION, ACTING PURSUANT TO SAID SECTION 8(A),
MAY DETERMINE.
52678.0004
Subject to Completion. Dated April 2, 2001.
THE INFORMATION CONTAINED IN THIS PROSPECTUS IS NOT COMPLETE AND MAY BE CHANGED.
THE SELLING STOCKHOLDERS IDENTIFIED IN THIS PROSPECTUS MAY NOT SELL THESE
SECURITIES UNTIL THE REGISTRATION STATEMENT FILED WITH THE SECURITIES AND
EXCHANGE COMMISSION IS EFFECTIVE. THIS PROSPECTUS IS NOT AN OFFER TO SELL NOR IS
IT SEEKING AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE THE OFFER OR SALE
IS NOT PERMITTED.
PROSPECTUS
HIGH SPEED ACCESS CORP.
3,239,024 Shares of Common Stock
The stockholders identified in this prospectus are offering:
o 2,961,718 shares of common stock owned by selling
stockholders; and
o 277,306 shares of common stock underlying warrants owned
by selling stockholders.
We will not receive any of the proceeds from sales of the shares.
Our common stock trades on the Nasdaq National Market under the
symbol HSAC. On March 30, 2001, the last reported sale price of the common stock
on the Nasdaq National Market was $1.50 per share.
SEE "RISK FACTORS" BEGINNING ON PAGE 4 OF THIS PROSPECTUS FOR A
DISCUSSION OF MATERIAL RISKS THAT AN INVESTOR SHOULD CONSIDER BEFORE BUYING HSA
COMMON STOCK.
Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved AND of these securities or determined if
this prospectus is truthful or complete. Any representation to the EXCHANGE
contrary is a criminal offense.
The date of this prospectus is April __, 2001.
TABLE OF CONTENTS
HIGH SPEED ACCESS CORP....................................................3
RISK FACTORS..............................................................4
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS.........................4
WHERE YOU CAN FIND MORE INFORMATION.......................................5
USE OF PROCEEDS...........................................................7
SELLING STOCKHOLDERS......................................................7
PLAN OF DISTRIBUTION.....................................................13
LEGAL MATTERS............................................................14
EXPERTS..................................................................14
2
HIGH SPEED ACCESS CORP.
Because this is a summary, it does not contain all the information
about HSA that may be important to you. You should read the more detailed
information and the financial statements and related notes which are
incorporated by reference in this Prospectus.
We provide high speed Internet access to residential and commercial
customers primarily via cable modems. We focus primarily on residential and
commercial end users in exurban areas, although we have recently begun to
provide broadband services in some urban markets. We enter into long-term
exclusive contracts with cable system operators to provide a suite of services
on a comprehensive "turnkey" basis as well as on an unbundled or "Network
Services" basis. These services enable a cable system's customers to receive
high speed Internet access.
In exchange for providing us with access to its customers in the
turnkey solution, we pay the cable operator a portion of the monthly fees
received from an end user who subscribes to the services. In an unbundled or
Network Services solution, we deliver fewer services and incur lower costs than
in a turnkey solution but also earn a smaller percentage of the subscription
revenue or a fixed fee on a per subscriber basis. In our Network Services
solution, our cable partners will typically bill the end user and remit to us
our percentage of the revenue or the fixed fee. Network Services have
increasingly become a significant part of our business mix, and we anticipate
that this trend will continue.
We have agreements to provide our services to 41 cable operators,
covering 201 systems and approximately 6,600,000 homes passed. The term "homes
passed" refers to the number of homes that potentially can be served by a cable
system. We have deployed our services in systems covering approximately
3,800,000 homes passed and have approximately 100,000 high speed residential end
users.
Through his control of Charter Communications, Inc. ("Charter") and
Vulcan Ventures, Incorporated ("Vulcan"), Microsoft co-founder Paul Allen may be
deemed to beneficially own 48.8% of our common stock at December 31, 2000,
assuming 100% conversion of the Company's convertible preferred stock and the
exercise of 2,050,710 warrants owned by Charter. As of December 31, 2000, we had
deployed our services on either a turnkey or Network Services basis in cable
systems owned by Charter with approximately 3,158,000 homes passed.
We are expanding our offering of services to include expanded web
site hosting and a range of other value-added and ongoing support services, all
primarily for small and medium enterprises ("SMEs"). We also intend to continue
expanding our suite of core connectivity and related value-added services as
broadband technology proliferates and additional services become viable. The
Company also provides, on a limited basis, standard Internet access through
traditional dial-up service to residential and SME customers.
Our principal executive offices are located at:
10901 West Toller Drive
Littleton, Colorado 80127
Tel: (720) 922-2828
3
RISK FACTORS
You should carefully consider the following risk factors as well as
the other information contained and incorporated by reference in this prospectus
before making an investment in our common stock. Any one or a combination of
these risk factors may have a material adverse effect on us.
For a discussion of risk factors relating to our company, this
offering and our industry in general, please see our Annual Report on Form 10-K
for the fiscal year ended December 31, 2000.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
In connection with the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, we are hereby providing cautionary
statements identifying important factors that could cause our actual results to
differ materially from those projected in forward-looking statements (as such
term is defined in the Reform Act) made or incorporated by reference in this
prospectus. Any statements that express, or involve discussions as to,
expectations, beliefs, plans, objectives, assumptions or future events or
performance (often, but not always, through the use of words or phrases such as
"will likely result," "are expected to," "will continue," "is anticipated,"
"believe," "expect," "plan," "seek," "estimate," "intends," "plans,"
"projection" and "outlook") are not historical facts and may be forward-looking
and, accordingly, such statements involve estimates, assumptions and
uncertainties which could cause actual results to differ materially from those
expressed in the forward-looking statements. Accordingly, these statements are
qualified in their entirety by reference to, and are accompanied by, the factors
discussed throughout this prospectus, and particularly in the risk factors set
forth herein under "Risk Factors."
Any forward-looking statement speaks only as of the date on which the
statement is made, and we undertake no obligation to update any forward-looking
statement or statements to reflect events or circumstances after the date on
which the statement is made or to reflect the occurrence of unanticipated
events. New factors emerge from time to time, and it is not possible for us to
predict all of these factors. Further, we cannot assess the impact of each
factor on our businesses or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those contained in
any forward-looking statements.
4
WHERE YOU CAN FIND MORE INFORMATION
We are subject to the informational requirements of the Securities
Exchange Act of 1934, as amended, and file reports and other information with
the Securities and Exchange Commission in accordance therewith. These reports,
proxy statements and other information can be inspected and copied at the public
reference facilities maintained by the Commission at 450 Fifth Street, N.W.,
Room 1024, Washington, D.C. 20549, and at the Commission's regional offices
located at Seven World Trade Center, Suite 1300, New York, New York 10048 and
Citicorp Center, 500 West Madison Street, Suite 1400, Chicago, Illinois 60661.
Information regarding the public reference facilities may be obtained from the
Commission by calling 1-800-SEC-0330. Our filings are also available to the
public on the Commission's Internet site at http://www.sec.gov. Copies of these
materials may also be obtained by mail from the Public Reference Section of the
Commission at 450 Fifth Street, N.W., Washington, D.C. 20549 at prescribed
rates. We maintain a website at http://www.hsacorp.net.
We have filed with the Commission a registration statement on Form
S-3 under the Securities Act of 1933, as amended, with respect to the common
stock that the selling stockholders may offer under this prospectus. This
prospectus, which is a part of that registration statement, does not include all
the information contained in the registration statement and its exhibits. For
further information with respect to us and our common stock, you should consult
the registration statement and its exhibits. Statements contained in this
prospectus concerning the provisions of any documents are summaries of those
documents, and we refer you to the document filed with the SEC for more
information. The registration statement and any of its amendments, including
exhibits filed as a part of the registration statement or an amendment to the
registration statement, are available for inspection and copying as described
above.
The Commission allows us to "incorporate by reference" the
information we file with them. This means that we can disclose important
information to you by referring you to the other information we have filed with
the Commission. The information that we incorporate by reference is considered
to be part of this prospectus. Information that we file later with the
Commission will automatically update and supersede this information.
The following documents filed by us with the Commission and any
future filings under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act made
prior to the termination of this offering are incorporated by reference:
o our Annual Report on Form 10-K for the fiscal year ended
December 31, 2000;
o the description of our common stock contained in the
registration statement on Form 8-A, filed with the Commission on
May 21, 1999.
5
You can request a free copy of the above filings or any filings
subsequently incorporated by reference into this prospectus by writing or
calling us at:
High Speed Access Corp.
10901 West Toller Drive
Littleton, CO 80127
Attention: Stephen M. Calk
Telephone: (720) 922-2828
YOU SHOULD RELY ONLY ON THE INFORMATION PROVIDED OR INCORPORATED BY
REFERENCE IN THIS PROSPECTUS OR ANY SUPPLEMENT. WE HAVE NOT AUTHORIZED ANYONE
ELSE TO PROVIDE YOU WITH ADDITIONAL OR DIFFERENT INFORMATION. THE COMMON STOCK
IS NOT BEING OFFERED IN ANY STATE WHERE THE OFFER IS NOT PERMITTED. YOU SHOULD
NOT ASSUME THAT THE INFORMATION IN THIS PROSPECTUS OR ANY SUPPLEMENT IS ACCURATE
AS OF ANY DATE OTHER THAN THE DATE ON THE FRONT OF THIS PROSPECTUS OR ANY
SUPPLEMENT.
6
USE OF PROCEEDS
The shares of our common stock being offered hereby are offered
solely for the accounts of the selling stockholders pursuant to various
agreements that we have entered into with them. We will not receive any proceeds
from the sale of common stock by selling stockholders, but to the extent
warrants to purchase common stock held by selling stockholders are exercised, we
will receive up to an aggregate of approximately $1.5 million. We intend to use
the proceeds from the exercise of the warrants for working capital and general
corporate purposes. See "Selling Stockholders."
SELLING STOCKHOLDERS
In connection with the issuance of these securities to the selling
stockholders, we have entered into various agreements that require us to file a
registration statement covering the common stock offered hereby, including the
common stock issuable upon exercise of warrants held by certain selling
stockholders. This prospectus is a part of the registration statement we filed
with the Commission covering all of those shares of common stock.
The following table sets forth information about the selling
stockholders and the number of shares of our common stock beneficially owned by
them, including upon exercise of warrants. We received this information from the
selling stockholders. Except as disclosed in this prospectus, none of the
selling stockholders has, or within the past three years has had, any position,
office or other material relationship with us or any of our predecessors or
affiliates. Because the selling stockholders may offer all or some portion of
our common stock pursuant to this prospectus, no estimate can be given as to the
number of shares of our common stock that will be held by the selling
stockholders upon termination of any sales of such common stock. In addition,
the selling stockholders identified below may have sold, transferred or
otherwise disposed of all or a portion of their securities since the date on
which they provided the information regarding their securities in transactions
exempt from the registration requirements of the Securities Act.
The shares of common stock are being registered to permit public
secondary trading of the shares and the selling stockholders may offer the
shares for sale from time to time. See "Plan of Distribution."
7
NUMBER OF SHARES
BENEFICIAL OWNERSHIP COVERED BY THIS
SELLING SHAREHOLDERS AT DECEMBER 11, 2000 PROSPECTUS
- -------------------------------------------------------------------------------------------------------------
Alan Booge 34,476 34,476
- -------------------------------------------------------------------------------------------------------------
Alkis P. Zingas Trust 2,542 2,542
- -------------------------------------------------------------------------------------------------------------
Andy Rogers and Kay Rogers 1,779 1,779
- -------------------------------------------------------------------------------------------------------------
Annette G. Bouska 1,026 1,026
- -------------------------------------------------------------------------------------------------------------
Arkansas Valley Produce of Texas, Inc 11,299 11,299
- -------------------------------------------------------------------------------------------------------------
Arthur Kimicata(1) 2,288 2,288
- -------------------------------------------------------------------------------------------------------------
Baca Ranches 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Beaird Drilling Services, Inc. 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
BH Properties 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Bill M. Lowe 28,250 28,250
- -------------------------------------------------------------------------------------------------------------
Billy R. Scivally 10,170 10,170
- -------------------------------------------------------------------------------------------------------------
Brian Burke(2) 149,784 149,784
- -------------------------------------------------------------------------------------------------------------
Brian Renegar 5,085 5,085
- -------------------------------------------------------------------------------------------------------------
Brian Yatzkan 15,255 15,255
- -------------------------------------------------------------------------------------------------------------
C. Warren Lindig 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Casey Cameron 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Catherine A. Corrigan 20,340 20,340
- -------------------------------------------------------------------------------------------------------------
Catoctin Holdings, LLC(3) 53,392 53,392
- -------------------------------------------------------------------------------------------------------------
Chad Justice 1,525 1,525
- -------------------------------------------------------------------------------------------------------------
Chalpin Family Enterprises 8,013 8,013
- -------------------------------------------------------------------------------------------------------------
Charles E. Richardson III(4) 45,765 45,765
- -------------------------------------------------------------------------------------------------------------
Charles F. Reedy, III 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Charles G. Burns & Rebecca H. Burns 1,500 1,500
- -------------------------------------------------------------------------------------------------------------
Charles R. Clatterbuck 2,003 2,003
- -------------------------------------------------------------------------------------------------------------
Charles T. Sellers & Jan Sellers JTWROS 2,542 2,542
- -------------------------------------------------------------------------------------------------------------
Charlotte Biladeau 7,322 7,322
- -------------------------------------------------------------------------------------------------------------
Christopher & Holly E. Read 23,391 23,391
- -------------------------------------------------------------------------------------------------------------
Christopher J. Ledo 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Cindy Cawley & Kevin Cawley, JTWROS 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Claudia C. Dent Trust 15,255 15,255
- -------------------------------------------------------------------------------------------------------------
Cynthia C. Lewis 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Danny Ford 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
David A. Dysard 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
David A. Neff 7,627 7,627
- -------------------------------------------------------------------------------------------------------------
Dennis Lapidus 2,804 2,804
- -------------------------------------------------------------------------------------------------------------
Dennis McDougall 6,102 6,102
- -------------------------------------------------------------------------------------------------------------
Dent Irrevocable Trust 10,170 10,170
- -------------------------------------------------------------------------------------------------------------
Donald P. Baker 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
Don Hawkins, Jr. 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
Don Opplinger 1,525 1,525
- -------------------------------------------------------------------------------------------------------------
Duane Ollinger 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Dudding Investments Ltd. 118,378 118,378
- -------------------------------------------------------------------------------------------------------------
Eddie Oran 1,525 1,525
- -------------------------------------------------------------------------------------------------------------
Edward Lewis 1,232 1,232
- -------------------------------------------------------------------------------------------------------------
Eliott D. & Joanne M. James(5) 5,085 5,085
- -------------------------------------------------------------------------------------------------------------
8
NUMBER OF SHARES
BENEFICIAL OWNERSHIP COVERED BY THIS
SELLING SHAREHOLDERS AT DECEMBER 11, 2000 PROSPECTUS
- -------------------------------------------------------------------------------------------------------------
Eliott D. James(5) 61,550 61,550
- -------------------------------------------------------------------------------------------------------------
Ernest and Judy Rylie 2,542 2,542
- -------------------------------------------------------------------------------------------------------------
Erwin J. Riven, TTEE 2,542 2,542
- -------------------------------------------------------------------------------------------------------------
Forester's 4-F Cattle Co., Inc. 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Frank R. West 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Gary Allen(6) 366,642 366,642
- -------------------------------------------------------------------------------------------------------------
Gary Flanagan 7,322 7,322
- -------------------------------------------------------------------------------------------------------------
Gary Granger 2,542 2,542
- -------------------------------------------------------------------------------------------------------------
Gary Italia 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
Gaylon Naifeh 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
Gene Bradley/Shari Bradley 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Glen Grimsley 11,299 11,299
- -------------------------------------------------------------------------------------------------------------
Gregory A. Dent 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Gregory A. Dent Trust 15,255 15,255
- ------------------------------------------------------------------------------------------------------------
Gregory Grimsley 10,170 10,170
- -------------------------------------------------------------------------------------------------------------
Gregory W. Nestor 1,881 1,881
- -------------------------------------------------------------------------------------------------------------
Gunn Allen Financial, Inc. 69,279 69,279
- -------------------------------------------------------------------------------------------------------------
Ike Kyprianou(7) 5,720 5,720
- -------------------------------------------------------------------------------------------------------------
Irmgard Drilling 1,026 1,026
- -------------------------------------------------------------------------------------------------------------
Irwin H. Miller 2,542 2,542
- -------------------------------------------------------------------------------------------------------------
J. Timothy Doerner 2,542 2,542
- -------------------------------------------------------------------------------------------------------------
Jack S. McCotter 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
Jacquelyn R. McIntosh 10,170 10,170
- -------------------------------------------------------------------------------------------------------------
James A. Brooks(8) 143,083 143,083
- -------------------------------------------------------------------------------------------------------------
James A. Dudding 2,034 2,034
- -------------------------------------------------------------------------------------------------------------
James B. Munroe 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
James D. Simpson 2,542 2,542
- -------------------------------------------------------------------------------------------------------------
James Howland 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
James I. Burke, Jr. 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
James Lidestri(9) 6,864 6,864
- -------------------------------------------------------------------------------------------------------------
Jeffrey J. Anderson 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Jerrel Bolton(10) 180,105 180,105
- -------------------------------------------------------------------------------------------------------------
Jerry and Vickie Durant 5,650 5,650
- -------------------------------------------------------------------------------------------------------------
Jim Hudson 2,003 2,003
- -------------------------------------------------------------------------------------------------------------
Joe Cooper 6,102 6,102
- -------------------------------------------------------------------------------------------------------------
John Lunter 20,340 20,340
- -------------------------------------------------------------------------------------------------------------
John M. Hamilton 1,232 1,232
- -------------------------------------------------------------------------------------------------------------
John McIntosh 10,170 10,170
- -------------------------------------------------------------------------------------------------------------
Jud & Teri Hennington(11) 45,765 45,765
- -------------------------------------------------------------------------------------------------------------
Ken R. Burger 12,326 12,326
- -------------------------------------------------------------------------------------------------------------
Ken Shively 6,752 6,752
- -------------------------------------------------------------------------------------------------------------
Kenneth Eugene Scivally 10,170 10,170
- -------------------------------------------------------------------------------------------------------------
Knut E. Ellenes and Eleanor B. Ellenes 5,085 5,085
- -------------------------------------------------------------------------------------------------------------
KSM International Inc. 10,170 10,170
- -------------------------------------------------------------------------------------------------------------
Larry A. Darnell 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
Larry L. Wolfe 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Larry Tidwell 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Latham/Watkins Trust FBO Don Baker 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
9
NUMBER OF SHARES
BENEFICIAL OWNERSHIP COVERED BY THIS
SELLING SHAREHOLDERS AT DECEMBER 11, 2000 PROSPECTUS
- -------------------------------------------------------------------------------------------------------------
Lawrence Greenberg 3,333 3,333
- -------------------------------------------------------------------------------------------------------------
Lynn Crabtree 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
Marsha Kay Foster Irrevocable Trust 2,542 2,542
- -------------------------------------------------------------------------------------------------------------
McCauley Asset Management Co. 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
McDix Properties Ltd. 5,085 5,085
- -------------------------------------------------------------------------------------------------------------
Michael C. Addison 3,334 3,334
- -------------------------------------------------------------------------------------------------------------
Michael Day 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
Michael Dooly 9,661 9,661
- -------------------------------------------------------------------------------------------------------------
Michael Dudding(12) 80,080 80,080
- -------------------------------------------------------------------------------------------------------------
Michael T. Cronin 50,249 50,249
- -------------------------------------------------------------------------------------------------------------
Mike Baca and Jan Baca 3,101 3,101
- -------------------------------------------------------------------------------------------------------------
Mike Ollinger 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
MJD Defined Benefit Plan 2,440 2,440
- -------------------------------------------------------------------------------------------------------------
Morrison Enterprises 5,085 5,085
- -------------------------------------------------------------------------------------------------------------
Nicholas Kratsios 1,026 1,026
- -------------------------------------------------------------------------------------------------------------
Pacific Cattle Corporation 8,136 8,136
- -------------------------------------------------------------------------------------------------------------
Patrick G. O'Keefe 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
Patton G. Lochridge 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Paul J. Lunter(13) 715,201 715,201
- -------------------------------------------------------------------------------------------------------------
Paul P. Lunter 20,340 20,340
- -------------------------------------------------------------------------------------------------------------
Paul Powers 6,162 6,162
- -------------------------------------------------------------------------------------------------------------
Peter Cronin 3,051 3,051
- -------------------------------------------------------------------------------------------------------------
Peter P. Lunter 2,542 2,542
- -------------------------------------------------------------------------------------------------------------
Peter P. and Ellen M. Lunter 2,034 2,034
- -------------------------------------------------------------------------------------------------------------
Peter S. Steele(14) 49,018 49,018
- -------------------------------------------------------------------------------------------------------------
Philip P. Petrakos CQE Partnership 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Phillip E. Williams, Jr.(15) 15,890 15,890
- -------------------------------------------------------------------------------------------------------------
Poky Feeders, Inc. 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Progressive Services, Inc. 7,627 7,627
- -------------------------------------------------------------------------------------------------------------
Rainbow Joint Ventures 11,441 11,441
- -------------------------------------------------------------------------------------------------------------
Ralph Frasca 82,352 82,352
- -------------------------------------------------------------------------------------------------------------
Randall A. & Sandra E. Pollard, JTWROS 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Ravi Xavier, as Custodian for Charles Sellers 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
Richard F. Knight Trust 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Robert A. Mueller(16) 53,392 53,392
- -------------------------------------------------------------------------------------------------------------
Robert Mynarcik 1,372 1,372
- -------------------------------------------------------------------------------------------------------------
Robert P. Thigpen, Jr. 11,299 11,299
- -------------------------------------------------------------------------------------------------------------
Robert R. LaMotte 4,107 4,107
- -------------------------------------------------------------------------------------------------------------
Ross M. Deutsch 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
Robert W. Wyatt, Jr. 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
Royal Gamber 5,085 5,085
- -------------------------------------------------------------------------------------------------------------
Schooner Properties Ltd. 3,051 3,051
- -------------------------------------------------------------------------------------------------------------
Scott A. Radlinger Revocable Trust 10,170 10,170
- -------------------------------------------------------------------------------------------------------------
Shari S. Green 254 254
- -------------------------------------------------------------------------------------------------------------
Sidney M. Kalina 1,271 1,271
- -------------------------------------------------------------------------------------------------------------
Simon Chalpin 201 201
- -------------------------------------------------------------------------------------------------------------
Smith Financial Trust 116,139 116,139
- -------------------------------------------------------------------------------------------------------------
Stephen E. Lail 2,542 2,542
- -------------------------------------------------------------------------------------------------------------
10
NUMBER OF SHARES
BENEFICIAL OWNERSHIP COVERED BY THIS
SELLING SHAREHOLDERS AT DECEMBER 11, 2000 PROSPECTUS
- -------------------------------------------------------------------------------------------------------------
Stephen K. Zahumensky 2,542 2,542
- -------------------------------------------------------------------------------------------------------------
Steve Braccini 2,542 2,542
- -------------------------------------------------------------------------------------------------------------
Steve Late 11,299 11,299
- -------------------------------------------------------------------------------------------------------------
Steven Reynolds 20,340 20,340
- -------------------------------------------------------------------------------------------------------------
Strategic Solutions Group Inc. 65,194 65,194
- -------------------------------------------------------------------------------------------------------------
Supermex Trading Co., Ltd. 15,255 15,255
- -------------------------------------------------------------------------------------------------------------
Terri A. Burkett 6,752 6,752
- -------------------------------------------------------------------------------------------------------------
Theodore Bruner 27,174 27,174
- -------------------------------------------------------------------------------------------------------------
Thomas Durant 5,649 5,649
- -------------------------------------------------------------------------------------------------------------
Thomas Eggers 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
Thomas M. Husbands 2,542 2,542
- -------------------------------------------------------------------------------------------------------------
Timothy Hutton & Vicki Jones 5,085 5,085
- -------------------------------------------------------------------------------------------------------------
Tom Hansen 4,107 4,107
- -------------------------------------------------------------------------------------------------------------
Tom Shuhda 2,003 2,003
- -------------------------------------------------------------------------------------------------------------
Troy Cowdrey 2,054 2,054
- -------------------------------------------------------------------------------------------------------------
Vincent Giammatteo 3,333 3,333
- -------------------------------------------------------------------------------------------------------------
Vincent Risalvato 18,965 18,965
- -------------------------------------------------------------------------------------------------------------
W. Paul Resop II 1,525 1,525
- -------------------------------------------------------------------------------------------------------------
Wilfred Goth 2,542 2,542
- -------------------------------------------------------------------------------------------------------------
William & Sheila Kellagher 2,542 2,542
- -------------------------------------------------------------------------------------------------------------
William G. Wolf 11,299 11,299
- -------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------
Unnamed Selling Shareholders or any future transferees, pledgees, 19,619 19,619
donees or successors of or from any such unnamed holder
- -------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------
Total 3,239,024 3,239,024
- -------------------------------------------------------------------------------------------------------------
- --------------------
1 Mr. Kimicata was an officer of U.S. Technologies, Inc., which was acquired
by Digital in 1998. Represents 2,288 shares of common stock issuable upon
the exercise of a warrant.
2 Mr. Burke was a founding officer and director of Digital.
3 Catoctin Holdings, LLC is controlled by Randall Coppersmith, a former
director of Digital.
4 Mr. Richardson was an officer of Digital prior to the merger of Digital
and HSA, and continues to be an officer of Digital. Mr. Richardson is
currently the General Counsel of HSA.
5 Mr. James was a director of Digital.
6 Mr. Allen was a founding officer and director of Digital and is currently
is an observer to the board of directors of Digital.
7 Represents 5,720 shares of common stock issuable upon the exercise of a
warrant.
8 Includes 80,080 shares of common stock issuable upon the exercise of a
warrant.
9 Mr. Lidestri was an officer of U.S. Technologies. Represents 6,864 shares
of common stock issuable upon the exercise of a warrant.
10 Includes 80,080 shares of common stock issuable upon the exercise of
warrants.
11
11 Mr. Hennington was an officer and director of Digital prior to the merger
of Digital and HSA, and continues to be an officer and director of
Digital.
12 Represents 80,080 shares of common stock issuable upon the exercise of a
warrant.
13 Mr. Lunter was a founding officer and director of Digital. Represents 1.2%
of our outstanding common stock as of the completion of the distribution
of common stock to the former Digital shareholders.
14 Includes 16,474 shares of common stock issuable upon the exercise of
warrants.
15 Includes 5,720 shares of common stock issuable upon the exercise of a
warrant.
16 Mr. Mueller was an officer of Digital.
12
PLAN OF DISTRIBUTION
We are registering common stock on behalf of the selling
shareholders. As used herein, "selling shareholders" includes donees and
pledgees selling our common stock received from a named selling shareholder
after the date of this prospectus. All costs, expenses and fees in connection
with the registration of our common stock offered hereby will be borne by us.
Brokerage commissions and similar selling expenses, if any, attributable to the
sale of our common stock will be borne by the selling shareholders. Sales of our
common stock may be effected by selling shareholders from time to time in one or
more types of transactions (which may include block transactions) on the Nasdaq
National Market, in the over-the-counter market, in negotiated transactions,
through put or call options transactions relating to our common stock, through
short sales of our common stock, or a combination of such methods of sale, at
market prices prevailing at the time of sale, or at negotiated prices. Such
transactions may or may not involve brokers or dealers. The selling shareholders
have advised us that they have not entered into any agreements, understandings
or arrangements with any underwriters or broker-dealers regarding the sale of
their securities, nor is there an underwriter or coordinating broker acting in
connection with the proposed sale of our common stock by the selling
shareholders.
The selling shareholders may effect such transactions by selling our
common stock directly to purchasers or to or through broker-dealers, which may
act as agents or principals. Such broker-dealers may receive compensation in the
form of discounts, concessions, or commissions from the selling shareholders
and/or the purchasers of our common stock for whom such broker-dealers may act
as agents or to whom they sell as principal, or both (which compensation as to a
particular broker-dealer might be in excess of customary commissions).
The selling shareholders and any broker-dealers that act in
connection with the sale of our common stock might be deemed to be
"underwriters" with the meaning of Section 2(11) of the Securities Act, and any
commissions received by such broker-dealers and any profit on the resale of our
common stock sold by them while acting as principals might be deemed to be
underwriting discounts or commissions under the Securities Act. We have agreed
to indemnify each selling shareholder against certain liabilities, including
liabilities arising under the Securities Act. The selling shareholders may agree
to indemnify any agent, dealer or broker-dealer that participates in
transactions involving sales of our common stock against certain liabilities,
including liabilities arising under the Securities Act.
Because selling shareholders may be deemed to be "underwriters"
within the meaning of Section 2(11) of the Securities Act, the selling
shareholders will be subject to the prospectus delivery requirements of the
Securities Act. HSA has informed the selling shareholders that the
anti-manipulative provisions of Regulation M promulgated under the Exchange Act
may apply to their sales in the market.
Selling shareholders also may resell all or a portion of their HSA
common stock in open market transactions in reliance upon Rule 144 under the
Securities Act, provided they meet the criteria and conform to the requirements
of such Rule.
13
Upon our notification by a selling shareholder that any material
arrangement has been entered into with a broker-dealer for the sale of our
common stock through a block trade, special offering, exchange distribution or
secondary distribution or a purchase by a broker or dealer, a supplement to this
prospectus will be filed, if required, pursuant to Rule 424(b) under the
Securities Act, disclosing (i) the name of each such selling shareholder and of
the participating broker-dealer(s), (ii) the number of shares of our common
stock involved, (iii) the price at which such shares were sold, (iv) the
commissions paid or discounts or concessions allowed to such broker-dealer(s),
where applicable, (v) that such broker-dealer(s) did not conduct any
investigation to verify the information set out or incorporated by reference in
this prospectus and (vi) other facts material to the transaction. In addition,
upon our notification by a selling shareholder that a donee or pledgee intends
to sell more than 500 shares of our common stock, a supplement to this
prospectus will be filed.
LEGAL MATTERS
The validity of the securities offered hereby will be passed upon for
us by Weil, Gotshal & Manges LLP, New York, New York.
EXPERTS
The financial statements incorporated in this Prospectus by reference
to the Annual Report on Form 10-K for the year ended December 31, 2000 have been
so incorporated in reliance on the report of PricewaterhouseCoopers LLP,
independent accountants, given on the authority of said firm as experts in
auditing and accounting.
14
HIGH SPEED ACCESS CORP.
3,239,024 Shares
Common Stock
PROSPECTUS
April__, 2001
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
ITEM 14. OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION
The estimated amounts of the expenses of and related to offering are
as follows:
SEC registration fee............................... $ 1,832.29
Transfer agent fees................................ $ 3,500
Accounting fees and expenses....................... $ 3,500
Legal fees and expenses............................ $ 25,000
Miscellaneous...................................... $ 5,000
---------------
Total.............................................. $ 38,832.29
===============
ITEM 15. INDEMNIFICATION OF DIRECTORS AND OFFICERS
The Registrant's Amended and Restated Certificate of Incorporation
(the "Certificate") provides that, except to the extent prohibited by the
Delaware General Corporation Law, as amended (the "DGCL"), the Registrant's
directors shall not be personally liable to the Registrant or its stockholders
for monetary damages for any breach of fiduciary duty as directors of the
Registrant. Under the DGCL, the directors have a fiduciary duty to the
Registrant which is not eliminated by this provision of the Certificate and, in
appropriate circumstances, equitable remedies such as injunctive or other forms
of non-monetary relief will remain available. In addition, each director will
continue to be subject to liability under the DGCL for breach of the director's
duty of loyalty to the Registrant and its stockholders, for acts or omissions
which are found by a court of competent jurisdiction to be not in good faith or
involving intentional misconduct, for knowing violations of law, for actions
leading to improper personal benefit to the director, and for payment of
dividends or approval of stock repurchases or redemptions that are prohibited by
the DGCL. This provision also does not affect the directors' responsibilities
under any other laws, such as the Federal securities laws or state or Federal
environmental laws. The Registrant has obtained liability insurance for its
officers and directors.
Section 145 of the DGCL empowers a corporation to indemnify its
directors and officers and to purchase insurance with respect to liability
arising out of their capacity or status as directors and officers. The
Certificate provides that the Registrant shall indemnify any person who was or
is a party or is threatened to be made a party to or becomes involved in any
action, suit or proceeding (whether civil, criminal, administrative or
investigative) by reason of the fact that such person is or was a director or
officer of the Registrant, or is or was serving at the request of the Registrant
as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust, employee benefit plan or other enterprise, against
expenses (including attorney's fees), judgments, fines and amounts paid in
settlement reasonably incurred by such person in connection with such action,
suit or proceeding. The DGCL provides further that the indemnification permitted
thereunder shall not be deemed exclusive of any other rights to which the
directors and officers may be entitled under the corporation's bylaws, any
agreement, a vote of stockholders or otherwise. The Registrant has entered into
indemnification agreements with each member of the Board of Directors and
certain executive officers of the Registrant providing for the indemnification
of the directors and such officers to the fullest extent authorized, permitted
or allowed by Delaware law.
ITEM 16. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
Exhibit No. Description
- ----------- -----------
4.1* Specimen Common Stock Certificate.
4.2* Amended and Restated Certificate of Incorporation.
4.3* Amended and Restated Bylaws.
5** Opinion of Weil, Gotshal & Manges LLP.
23.1** Consent of Weil, Gotshal & Manges LLP (included in
Exhibit 5).
23.2 Consent of PricewaterhouseCoopers LLP.
24** Power of Attorney (included on signature page to this
Registration Statement).
- -------------------------
* Incorporated by reference to the Registrant's Registration Statement on
Form S-1 (File No. 333-74667).
** Previously filed.
ITEM 17. UNDERTAKINGS
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being
made, a post-effective amendment to this registration
statement:
(i) To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933.
(ii) To reflect in the prospectus any facts or events
arising after the effective date of the registration
statement (or the most recent post-effective
amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the
information set forth in the registration statement.
Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the
total dollar value of securities offered would not
exceed that which was registered) and any deviation
from the low or high end of the estimated maximum
offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in volume
and price represent no more than 20 percent change in
the maximum aggregate offering price set forth in the
"Calculation of Registration Fee" table in the
effective registration statement.
(iii) To include any material information with respect to
the plan of distribution not previously disclosed in
the registration statement or any material change to
such information in the registration statement.
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not
apply if the registration statement is on Form S-3, Form S-8 or Form
F-3, and the information required to be included in a post-effective
amendment by those paragraphs is contained in periodic reports filed
with or furnished to the Commission by the registrant pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934 that are
incorporated by reference in the registration statement.
(2) That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment
shall be deemed to be a new registration statement relating to
the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona
fide offering thereof.
(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain
unsold at the termination of the offering.
(b) The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each
filing of the registrant's annual report pursuant to Section 13(a) or
15(d) of the Securities Exchange Act of 1934 (and, where applicable,
each filing of an employee benefit plan's annual report pursuant to
Section 15(d) of the Securities Exchange Act of 1934) that is
incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the
Securities Act of 1933, as amended, may be permitted to directors,
officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised
that in the opinion of the Commission such indemnification is against
public policy as expressed in the Securities Act of 1933, as amended,
and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by
the registrant of expenses incurred or paid by a director, officer or
controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a
court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the
Securities Act of 1933, as amended, and will be governed by the final
adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as
amended, the Registrant certifies that it has reasonable grounds to believe that
it meets all of the requirements for filing on Form S-3 and has duly caused this
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Louisville, State of Kentucky, on this 30th day
of March, 2001.
HIGH SPEED ACCESS CORP.
By: /s/ Charles E. Richardson III
----------------------------------
Name: Charles E. Richardson III
Title: General Counsel
Pursuant to the requirements of the Securities Act, this Registration
Statement has been signed below by the following persons in the capacities and
on the date indicated.
Signature Title Date
--------- ----- ----
* Chairman of the Board of Directors March 30, 2001
- ---------------------------------------------------
David A. Jones, Jr.
* Vice Chairman of the Board of Directors March 30, 2001
- ---------------------------------------------------
Robert Saunders
* Director March 30, 2001
- ---------------------------------------------------
Irving W. Bailey, II
* Director March 30, 2001
- ---------------------------------------------------
Michael Gellert
* Director March 30, 2001
- ---------------------------------------------------
Jerald L. Kent
* Director March 30, 2001
- ---------------------------------------------------
William D. Savoy
* Director March 30, 2001
- ---------------------------------------------------
Stephen E. Silva
* President, Chief Executive Officer and March 30, 2001
- --------------------------------------------------- Director (Principal Executive Officer)
Daniel J. O'Brien
/s/ George E. Willet Chief Financial Officer March 30, 2001
- --------------------------------------------------- (Principal Financial and Accounting Officer)
George E. Willett
*By: /s/ George E. Willet
--------------------------------------------
George E. Willett
Attorney-in-Fact
EXHIBIT INDEX
Exhibit No. Description
- ----------- -----------
4.1* Specimen Common Stock Certificate.
4.2* Amended and Restated Certificate of Incorporation.
4.3* Amended and Restated Bylaws.
5** Opinion of Weil, Gotshal & Manges LLP.
23.1** Consent of Weil, Gotshal & Manges LLP (included in
Exhibit 5).
23.2 Consent of PricewaterhouseCoopers LLP.
24** Power of Attorney (included on signature page to this
Registration Statement).
- --------------
* Incorporated by reference to the Registrant's Registration Statement on
Form S-1 (File No. 333-74667).
** Previously filed.