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     <!-- Project:        I:\CONVER\ny13065.eep                                            -->
     <!-- Control Number: ny13065                                                          -->
     <!-- Rev Number:     8-K                                                              -->
     <!-- Client Name:    McLeodUSA                                                        -->
     <!-- Project Name:   ny13065                                                          -->
     <!-- Firm Name:      McLeodUSA Inc                                                    -->
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<B>UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION<BR>WASHINGTON, D.C. 20549</B>  </FONT></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>FORM 8-K</B>  </FONT></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>CURRENT
REPORT<BR><BR>Pursuant to Section 13 or 15(d) of the<BR> Securities Exchange Act of 1934</B>  </FONT></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date
of Report (Date of Earliest Event reported):&nbsp;&nbsp;June 21, 2004<!-- DATE --> </FONT></TD></TR>
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     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><B>McLEODUSA INCORPORATED<!-- Name of Registrant --></B></FONT></TD></TR>
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     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Exact Name of Registrant as Specified in Charter)</FONT></TD></TR>
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<TD WIDTH="33%" ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>DELAWARE <!-- State--></font></td>
<TD WIDTH="34%" ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>0-20763<!-- File No.--></font></td>
<TD WIDTH="33%" ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>42-1407240<!-- Irs No.--></font></td>
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<TD ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>(State or Other Jurisdiction <br>of Incorporation)</font></td>
<td ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>(Commission<br>File Number) </font></td>
<TD ALIGN="CENTER"><Font Face="Times New Roman, Times, Serif" Size=2>(IRS Employer<br> Identification No.) </font></td>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>McLeodUSA
Technology Park, 6400 C Street SW, P.O. Box 3177, Cedar Rapids, IA 52406-3177 </FONT></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Address
of Principal Executive Offices) (Zip Code) </FONT></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registrant's
telephone number, including area code:&nbsp;&nbsp;(319) 364-0000 </FONT></TD></TR>
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<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>ITEM 5.</B></FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>

     <B>Other Events and Required FD Disclosure.</B></FONT></TD>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2> McLeodUSA Incorporated (the "Company") received notice on June 21, 2004,
from the Nasdaq Stock Market that it is not in compliance with Nasdaq
Marketplace Rule 4310(c)(4) (the "Rule"), which requires companies listed on
the Nasdaq SmallCap Market to maintain a bid price of at least $1.00 per
share. Under the Rule, the Company has been provided 180 calendar days, or
until December 20, 2004, to regain compliance. If at any time before that date
the bid price of the Company's common stock closes at $1.00 per share or more
for a minimum of 10 consecutive business days, Nasdaq will provide written
notification that the Company has regained compliance. If the Company does not
regain compliance by December 20, 2004, it will be eligible to be granted an
additional 180 calendar day compliance period if it meets the Nasdaq SmallCap
Market initial listing criteria (other than minimum bid price) at that time.
The Company may also be afforded an additional compliance period if certain
additional conditions are met. If the Company does not regain compliance after
expiration of all applicable grace periods, its Class A common stock could be
subject to Nasdaq delisting pending an appeals process. </FONT></TD></TR></TABLE><BR>



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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURE </FONT></TD></TR>
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<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.  </FONT></TD></TR>
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    <TD WIDTH="20%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Date: June 28, 2004 <!-- TYPE "DATE:" HERE--> </FONT></TD>
    <TD WIDTH="32%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD WIDTH="48%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">McLEODUSA INCORPORATED<!-- COMPANY --> </FONT></TD>
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    <TD WIDTH="39%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; <!-- DATE--> </FONT></TD>
    <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By: </FONT></TD>
    <TD WIDTH="43%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;
      <!-- NAME -->
      /s/ G. Kenneth Burckhardt </FONT></TD>
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    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD>&nbsp; </TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
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    <TD WIDTH="44%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD WIDTH="48%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">G. Kenneth Burckhardt<BR>
Chief Financial Officer<!-- COMPANY --> </FONT></TD>
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[{"type": "8-K", "sequence": "1", "filename": "chi463431.htm", "description": "8-K", "secsgml_size_bytes": 10486}]
{"company-data": {"conformed-name": "MCLEODUSA INC", "cik": "0000919943", "assigned-sic": "4812", "irs-number": "421407240", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-20763", "film-number": "04885410"}, "business-address": {"street1": "6400 C ST SW", "street2": "PO BOX 3177", "city": "CEDAR RAPIDS", "state": "IA", "zip": "52406", "phone": "3193640000"}, "mail-address": {"street1": "6400 C ST SW", "street2": "PO BOX 3177", "city": "CEDAR RAPIDS", "state": "IA", "zip": "52406"}, "former-company": {"former-conformed-name": "MCLEOD INC", "date-changed": "19960403"}}
8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date
of Report (Date of Earliest Event reported):  June 21, 2004
McLEODUSA INCORPORATED
(Exact Name of Registrant as Specified in Charter)
DELAWARE
0-20763
42-1407240
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
McLeodUSA
Technology Park, 6400 C Street SW, P.O. Box 3177, Cedar Rapids, IA 52406-3177
(Address
of Principal Executive Offices) (Zip Code)
Registrant's
telephone number, including area code:  (319) 364-0000
ITEM 5.
Other Events and Required FD Disclosure.
McLeodUSA Incorporated (the "Company") received notice on June 21, 2004,
from the Nasdaq Stock Market that it is not in compliance with Nasdaq
Marketplace Rule 4310(c)(4) (the "Rule"), which requires companies listed on
the Nasdaq SmallCap Market to maintain a bid price of at least $1.00 per
share. Under the Rule, the Company has been provided 180 calendar days, or
until December 20, 2004, to regain compliance. If at any time before that date
the bid price of the Company's common stock closes at $1.00 per share or more
for a minimum of 10 consecutive business days, Nasdaq will provide written
notification that the Company has regained compliance. If the Company does not
regain compliance by December 20, 2004, it will be eligible to be granted an
additional 180 calendar day compliance period if it meets the Nasdaq SmallCap
Market initial listing criteria (other than minimum bid price) at that time.
The Company may also be afforded an additional compliance period if certain
additional conditions are met. If the Company does not regain compliance after
expiration of all applicable grace periods, its Class A common stock could be
subject to Nasdaq delisting pending an appeals process.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
Date: June 28, 2004
McLEODUSA INCORPORATED
By:
/s/ G. Kenneth Burckhardt
G. Kenneth Burckhardt
Chief Financial Officer