Telergy's preliminary prospectus, filed late Wednesday with the U . S . Securities and Exchange Commission, did not indicate how many shares the company will sell, or at what price.
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By joining forces with utility companies-- first Niagara Mohawk Power Corp ., then others-- Telergy obtained rights to build a fiber-optic network along the poles and underground transmission routes controlled by the utilities.
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Forever decrying the crooks of the dot-com bubble, McAuliffe has made millions ( all legally, of course ) from his serial insider's status at two telecom companies, Global Crossing and Telergy ( where he was a director ).
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As Niagara Mohawk sheds itself of its power producing plants, it has begun investing in unregulated energy service businesses and other areas through a wholly owned subsidiary, Opinac NA . Its biggest investment has been in Telergy, a rapidly rising regional telecommunications company, Davis said.
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Telergy owns a network of fiber-optic cables and telecommunications equipment that extends 1, 800 miles in New York, New Jersey, Pennsylvania, Maryland and Washington, D . C . The company uses its network to provide a wide array of services, from simple voice calls to high-tech video streaming and data storage.
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