Savvis Share Price Dips Below $1; CEO McCormick Discusses 2001 Outlook
INTERNET WATCH
HERNDON, Va.: In an exclusive interview with Inside Market Data, Rob McCormick, Savvis' chairman and CEO, discusses the year ahead for the networking company, whose share price fell to a low of $0.75 last month.
McCormick tells IMD that the company plans to finance its 2001 cash needs with an infusion of another $200 million. The funding probably will involve an equity-based private placement, with potential investors including Welsh, Carson, Anderson & Stowe (owner of 16 percent of Savvis'
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