PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 3:36 PM
| This Slide: #379 of 609 |
Slide #379. American Tower Corporation — Preferred Stock Offering
Company:
American Tower Corporation (NYSE:AMT)
Date announced:
2/24/2015
Shares Offered:
12,500,000
Date of Pricing:
2/26/2015
Price Per Share:
$100
Preferred Stock Offering Details:
American Tower Corporation (NYSE:AMT) today announced that, in connection with the funding of its transaction with Verizon Communications, Inc., whereby American Tower will lease, acquire or otherwise operate and manage up to 11,489 Verizon wireless communications sites, American Tower intends to offer 23,500,000 shares of its common stock and 12,500,000 depositary shares, each representing a 1/10th interest in a share of American Tower's Mandatory Convertible Preferred Stock, Series B, in concurrent registered public offerings, subject to market and other conditions. These offerings are separate public offerings made by means of separate prospectus supplements and are not contingent on each other or upon consummation of the Verizon transaction.
American Tower is a holding company. Through its subsidiaries, Co. is a real estate investment trust and an independent owner, operator and developer of multitenant communications real estate. Co.'s business is the leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries. Co. also provides tower-related services in the U.S. These services include site application, zoning and permitting and structural analysis, which primarily support Co.'s site leasing business, including the addition of new tenants and equipment on its sites.
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Avg. Broker Rec.
 
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Strong Buy (3.60 out of 4) 66th percentile
(ranked higher than approx. 66% of all stocks covered)
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