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:
May 20, 2002
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(Date of earliest event reported)
Electric Lightwave, Inc.
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(Exact name of Registrant as specified in charter)
Delaware 0-23393 93-1035711
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
3 High Ridge Park, Stamford, CT 06905
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(Address of principal executive offices) (Zip Code)
(203) 614-5600
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(Registrant's telephone number, including area code)
No change since last report
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(Former name or address, if changed since last report)
Item 5. Other Events.
Electric Lightwave, Inc. (ELI) (Nasdaq: ELIX) received a Nasdaq Staff
Determination indicating that ELI had failed to regain compliance with the
market value of publicly held shares and minimum bid price requirements for
continued listing set forth in accordance with Marketplace Rules 4450(b)(3) and
4450(b)(4) respectively, and that its securities would therefore be delisted
from the Nasdaq National Market at the opening of business on May 24, 2002.
Item 7. Financial Statements, Exhibits
(c) Exhibits
Press release dated May 20, 2002 announcing Electric Lightwave, Inc.
to be delisted by NASDAQ.
Electric Lightwave, Inc.
8100 N.E. Parkway Drive
Suite 150
Vancouver, Washington 98662
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FOR IMMEDIATE RELEASE
Contact: Brigid Smith
A.V.P., Corporate Communications
203.614.5042 bsmith@czn.com
ELECTRIC LIGHTWAVE, INC. TO BE DELISTED BY NASDAQ
STAMFORD, Conn., May 20, 2002 -- Electric Lightwave, Inc. (ELI) (Nasdaq: ELIX)
received a Nasdaq Staff Determination indicating that ELI had failed to regain
compliance with the market value of publicly held shares and minimum bid price
requirements for continued listing set forth in accordance with Marketplace
Rules 4450(b)(3) and 4450(b)(4) respectively, and that its securities would
therefore be delisted from the Nasdaq National Market at the opening of business
on May 24, 2002.
About Electric Lightwave, Inc.
Electric Lightwave, Inc. is a facilities-based competitive local exchange
carrier providing Internet, data, voice and dedicated access services to
communications-intensive businesses and the e-commerce market. The company owns
and operates high-speed fiber-optic networks that interconnect major markets in
the West and operates a leading national Internet and data network. The company
is 85 percent owned by Citizens Communications (NYSE:CZN, CZB). More information
about Electric Lightwave, Inc. may be found at www.eli.net.
This press release contains forward-looking statements that are subject to risks
and uncertainties that could cause actual results to differ materially from
those expressed or implied in the statements. All forward-looking statements are
only predictions or statements of current plans, which are constantly under
review by Electric Lightwave (the company). All forward-looking statements may
differ from actual future results due to, but not limited to, changes in the
local and overall economy, the nature and pace of technological changes, the
number and effectiveness of competitors in the company's markets, success in
overall strategy, changes in legal and regulatory policy, relations with
Incumbent Local Exchange Carriers (ILECs) and their ability to provide delivery
of services including interoffice trunking, implementation of back office
service delivery systems, the company's ability to identify future markets and
successfully expand existing ones and the mix of products and services offered
in the company's target markets. Readers should consider these important factors
in evaluating any statement contained herein and/or made by the company or on
its behalf. The company has no obligation to update or revise forward-looking
statements to reflect the occurrence of future events or circumstances.
Signature
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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 thereunto duly authorized.
ELECTRIC LIGHTWAVE, INC.
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(Registrant)
By: /s/ Robert J. Larson
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Robert J. Larson
Vice President and Chief Accounting Officer
Date: May 20, 2002