Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, May 21, 7:44 AM
|This Slide: #329 of 581|
Slide #329. Frontier Communications Corporation — Preferred Stock Offering
Frontier Communications Corporation (FTR)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Frontier Communications Corporation (NASDAQ:FTR) announced today that it has commenced registered offerings of $750 million of common stock, par value $0.25 per share, and $1.750 billion of mandatory convertible preferred stock, par value $0.01 per share. Pursuant to the offerings, Frontier intends to grant the underwriters an option to purchase from Frontier up to an additional $75 million of common stock and up to an additional $175 million of mandatory convertible preferred stock. - updated 6/5 - Frontier Communications Corporation (NASDAQ:FTR) announced today that it has priced its previously announced registered offerings of $750 million of common stock, par value $0.25 per share, at a public offering price of $5.00 per share, and $1.750 billion of 11.125% Mandatory Convertible Preferred Stock, Series A, par value $0.01 per share (the "Mandatory Convertible Preferred Stock"), at a public offering price of $100.00 per share. Pursuant to the offerings, Frontier has granted the underwriters a 30-day option to purchase from Frontier up to an additional 15,000,000 shares of common stock and up to an additional 1,750,000 shares of Mandatory Convertible Preferred Stock, in each case at the public offering price per share. The offerings are expected to close on or about June 10, 2015, subject to customary closing conditions.
Frontier Communications is a holding company. Through its subsidiaries, Co. is a provider of communications services. Co. conducts business with both consumer and commercial customers. For consumer customers, Co. provides broadband, video, voice and other services and products. Co. delivers these services over a combination of fiber and copper-based networks. Co.'s commercial customers consist of: small, medium and larger enterprise customers, whereby Co. provides services including broadband service, Ethernet service, circuit-based services, SD-WAN, and managed Wi-Fi; and wholesale customers, which buy both voice and data services to supplement their own network infrastructure.
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Strong Sell (0.50 out of 4)
(ranked higher than approx. 91% of all stocks covered)
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