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<FILENAME>boingodfan14a-051616.htm
<DESCRIPTION>MAY 16, 2016
<TEXT>
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<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SCHEDULE 14A</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">(Rule 14a-101)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">INFORMATION REQUIRED IN PROXY STATEMENT</div>

<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SCHEDULE 14A INFORMATION</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">PROXY STATEMENT PURSUANT TO SECTION 14(a) OF</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">THE SECURITIES EXCHANGE ACT OF 1934</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">(Amendment No. )</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Filed by the Registrant [&#160; ]</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Filed by a Party Other than the Registrant [x]</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Check the Appropriate Box:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 19.2pt">[&#160; ] Preliminary Proxy Statement</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 33.6pt; TEXT-INDENT: -14.4pt">[&#160; ] Confidential, for Use of the Commission Only (as permitted by<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font> Rule 14a-6(e)(2))</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 19.2pt">[&#160; ] Definitive Proxy Statement</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 19.2pt">[x] Definitive Additional Materials</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 19.2pt">[&#160; ]&#160; Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12</div>

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<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><u>BOINGO WIRELESS, INC.</u></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">(Name of registrant as specified in its charter)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">IDES CAPITAL MANAGEMENT LP</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">IDES CAPITAL OPPORTUNITIES FUND, LP</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">IDES CAPITAL ADVISORS LLC</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">IDES CAPITAL PARTNERS LP</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">IDES CAPITAL GP LLC</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">DIANNE MCKEEVER</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">ROBERT LONGNECKER</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">KAREN FINERMAN</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><u>BRADLEY STEWART</u></div>

<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">(Name of person(s) filing proxy statement, if other than the registrant)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Payment of Filing Fee (Check the Appropriate Box):</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 12pt">[x] No fee required.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 12pt">[&#160; ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 20pt">(1) Title of each class of securities to which transaction applies:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 20pt">(2) Aggregate number of securities to which transaction applies:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 35.65pt; TEXT-INDENT: -15.6pt">(3) Per unit price or other underlying value of transaction computed pursuant to<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font>Exchange Act Rule 0-11 (set forth the amount on which the filing fee is<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font> calculated and state how it is determined):</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 20pt">(4) Proposed maximum aggregate value of transaction:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 20pt">(5) Total fee paid:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 12pt">[&#160; ] Fee paid previously with preliminary materials:</div>

<div style="TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;[&#160; ] Check box if any part of the fee is offset as provided by Exchange Act</div>

<div style="TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous</div>

<div style="TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; filing by registration statement number, or the form or schedule and the date of its filing.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 20pt">(1) Amount Previously Paid:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 20pt">(2) Form, Schedule or Registration Statement no.:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 20pt">(3) Filing Party:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 20pt">(4) Date Filed:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 20pt">Ides Capital Management LP ("Ides Capital") together with the other participants named herein has made a definitive filing with the Securities and Exchange Commission of a proxy statement and accompanying GOLD proxy card to be used to solicit votes for the election of the individuals nominated by Robert Longnecker, a Partner and Director of Ides Capital, at the upcoming 2016 annual meeting of stockholders of Boingo Wireless, Inc.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 20pt">On May 16, 2016, Ides Capital issues the following press release:</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 16pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 12pt">Ides Capital Releases Investor Presentation Detailing Opportunity to Drive<br>
 Stockholder Value at Boingo</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: center; MARGIN-TOP: 12pt">Highlights Troubling Inconsistencies in Boingo's Peer Group Selection, Misalignment between Management Incentive Structures and Stockholders' Interests and Failure to Address Corporate Governance Concerns</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: center; MARGIN-TOP: 12pt">Believes New Perspectives Needed on Boingo Board to Drive Stockholder Value by Restoring Credibility, Improving Operational Performance and Strengthening Corporate Governance</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 12pt"><font style="FONT-SIZE: 10pt; FONT-STYLE: italic">Urges Boingo Stockholders to Vote </font><font style="FONT-SIZE: 10pt; FONT-STYLE: italic">FOR </font><font style="FONT-SIZE: 10pt; FONT-STYLE: italic">Ides' Nominees on the</font><font style="FONT-SIZE: 10pt; FONT-STYLE: italic"> GOLD </font><font style="FONT-SIZE: 10pt; FONT-STYLE: italic">Proxy Card Today</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; COLOR: #8064a2; TEXT-ALIGN: left">May 16, 2016 10:38 AM Eastern Daylight Time</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 12pt">NEW YORK--(<font style="FONT-SIZE: 10pt; COLOR: #4f8abd">BUSINESS WIRE</font>)--Ides Capital Management LP ("Ides Capital") today issued a presentation highlighting the need for change at Boingo Wireless, Inc. (NASDAQ: WIFI) ("Boingo" or "the Company") as well as the significant value creation opportunity at the Company.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 12pt">Dianne McKeever, Chief Investment Officer of Ides, said: "We are extremely concerned that Boingo has failed to take any meaningful steps to address the Company's severe stock price underperformance and the operational and governance issues that are hindering the creation of long-term value for stockholders. In our view, addressing these issues could result in Boingo achieving a stock price of up to 100% greater than its current value.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 12pt">The Company's recent actions are illustrative of the fact that it is disconnected from stockholders' reality. Following Boingo's disappointing first quarter earnings report on May 5<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup> &#8211; which the Company referred to as "outstanding" &#8211; Boingo's stock declined sharply, closing down roughly six percent the following day and trading down nearly 10 percent in the ensuing days. This episode illustrates how the Boingo Board and management refuse to be held accountable for the Company's underperformance and how indifferent they apparently are to the losses suffered by stockholders. We urge fellow stockholders to vote <font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold">FOR </font>Ides' two highly qualified director nominees &#8211; Karen Finerman and Bradley Stewart &#8211; to bring the fresh perspectives and ideas that are so badly needed on Boingo's Board."</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 12pt">
<div style="MARGIN-BOTTOM: 5px; FONT-FAMILY: Arial">Key points in Ides' presentation include:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 18pt">&#9679;</div>
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<div style="MARGIN-BOTTOM: 3px; FONT-SIZE: 10pt; TEXT-ALIGN: left">Boingo's proxy peer group has proven to be a moving target, with dramatic annual changes, and was even omitted from 2012 executive compensation considerations</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 54pt">o</div>
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<div style="MARGIN-BOTTOM: 5px; FONT-SIZE: 10pt; TEXT-ALIGN: left">In fact, on May 10<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup>, less than two weeks after it filed its 2016 proxy, the Company announced a new, drastically smaller peer group of eight companies, seven of which were not contained in the 2016 proxy peer group</div>
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<div style="MARGIN-BOTTOM: 5px; FONT-SIZE: 10pt; TEXT-ALIGN: left">Boingo's assertion in its 2016 proxy statement that its executives "primarily" sell stock to "cover taxes" is, we believe, inconsistent with the reality that CEO David Hagan has sold 82% of his vested stock options and restricted stock unit (RSU) awards</div>
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<div style="MARGIN-BOTTOM: 5px; FONT-SIZE: 10pt; TEXT-ALIGN: left">The Company's Board has refused to implement any of Ides' suggestions for improving corporate governance, instead asserting that existing governance controls are "quite good" for Boingo's size, and noting that it is in "no rush" to improve governance at the Company</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 18pt">&#9679;</div>
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<div style="MARGIN-BOTTOM: 3px; FONT-SIZE: 10pt; TEXT-ALIGN: left">The Board, especially the Compensation Committee currently chaired by incumbent director Charles Boesenberg, has failed to adequately oversee executive compensation and has not aligned compensation structure with stockholders' interests</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left; MARGIN-LEFT: 54pt">o</div>
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<div style="MARGIN-BOTTOM: 5px; FONT-SIZE: 10pt; TEXT-ALIGN: left">Performance-based executive compensation is almost exclusively tied to time and revenue growth, and CEO Hagan receives the bulk of his total compensation just for showing up to work</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Furthermore, the Board's Compensation Committee has created a no-lose situation for management by shifting from a compensation plan exclusively focused on Options to one focused on RSUs, which ultimately eliminates nearly all ties to stock price appreciation</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 12pt">Vote FOR Ides' Nominees Karen Finerman and Bradley Stewart on the GOLD Proxy Card Today.</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 12pt">The full text of Ides' presentation can be found at this link: <font style="FONT-SIZE: 10pt; COLOR: #4f8abd">http://www.okapivote.com/boingo/</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 12pt">About Ides Capital Management LP</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; MARGIN-TOP: 12pt">Ides&#160;Capital&#160;Management LP is a New York-based investment advisor focused on small and mid-capitalization public companies that are deeply undervalued and provide a margin of safety. Ides&#160;seeks to constructively engage with management teams and corporate boards to implement positive changes&#160;to drive long-term value to the benefit of all stockholders and&#160;to improve corporate governance practices,&#160;including a strong focus on boardroom diversification.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 14pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; COLOR: #9bbb59; MARGIN-TOP: 12pt">Contacts</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 12pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">Investor:</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">Okapi Partners</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">Bruce H. Goldfarb / Patrick McHugh / Lydia Mulyk</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">212-297-0720</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">or</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">Media:</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">Sloane &amp; Company</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">Dan Zacchei / Joe Germani</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial">212-486-9500</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font><font style="FONT-FAMILY: Arial"><font style="FONT-SIZE: 10pt">Dzacchei@sloanepr.com</font> or <font style="FONT-SIZE: 10pt">Jgermani@sloanepr.com</font></font></div>

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