Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, December 4, 1:58 AM
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Slide #53. Telephone and Data Systems, Inc. — Preferred Stock Offering
Telephone and Data Systems, Inc. (NYSE:TDS.PRU)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Telephone and Data Systems, Inc. (NYSE: "TDS") announced today that it priced an offering on February 23, 2021 of 16,000,000 depositary shares, each representing a 1/1,000th interest in its 6.625% Cumulative Redeemable Perpetual Preferred Stock, Series UU, $0.01 par value and $25,000 liquidation preference per share (equivalent to $25.00 per depositary share), for an aggregate public offering price of $400,000,000. TDS has granted the underwriters a 30-day option to purchase an additional 2,400,000 depositary shares in connection with the offering. The offering is expected to close on or about March 2, 2021, subject to satisfaction of customary closing conditions. TDS intends to list the depositary shares on the New York Stock Exchange ("NYSE") under the ticker symbol "TDSPrU."
Telephone and Data Systems provides communications services to customers with wireless connections and wireline and cable connections. Co. conducts its wireless operations through its majority-owned subsidiary, United States Cellular Corporation (UScellular). Co. provides broadband, video and voice services through its wholly-owned subsidiary, TDS Telecommunications LLC (TDS Telecom). Co. has three business segments comprised of: UScellular, which provides wireless telecommunications services to customers; and TDS Telecom's Wireline and Cable, which provides a range of communications services to both residential and commercial customers.
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