VoIP phone company Vonage has laid out plans to offer the option for
select existing Vonage customers to purchase stock in Vonage at the companies
IPO price. Vonage has reserved a number of common stock options to allow its
customers to purchase stock at its IPO value.
To participate in the Vonage Customer Directed Stock program you
must be a US
citizen with a Vonage account that was in good standing on or before Dec. 15th
2005 and maintained through at least Jan. 1st 2006 and
registered directly through Vonage America and not through a 3rd
party whole-seller.
Customers wanting to take advantage of the program are required to
buy at least 100 shares and can’t buy more then 5,000 shares. PC Magazine reports:
The big question is whether customers will want to participate. Vonage,
which had 1.6 million subscriber lines as of April 1, had a net loss of
$85 million on revenue of $119 million for the quarter ending March 31.
For 2005, Vonage lost $261 million on revenue of $269 million. Vonage
competes with everyone from Verizon and AT&T to Skype.
