XO Raises $161 Million in Initial Stage of Rights Offering

XO Communications received approximately $161 million for approximately 32.2 million shares of its new common stock in the initial stage of a rights offering at $5.00 per share. XO will offer the balance of approximately 7.8 million shares remaining from the 40 million shares offered pursuant to the rights offering at the same price through transferable rights in the second stage of the offering in early December.
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