PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Wed, April 24, 5:22 PM
| This Slide: #56 of 620 |
Slide #56. Telephone and Data Systems, Inc. — Preferred Stock Offering
Company:
Telephone and Data Systems, Inc. (NYSE:TDS)
Date announced:
8/10/2021
Shares Offered:
24,000,000
Date of Pricing:
8/10/2021
Price Per Share:
$25.00
Preferred Stock Offering Details:
Telephone and Data Systems, Inc. (NYSE: "TDS") announced today that it priced an offering on August 9, 2021 of 24,000,000 depositary shares, each representing a 1/1,000th interest in its 6.000% Cumulative Redeemable Perpetual Preferred Stock, Series VV, $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 $600,000,000. TDS has granted the underwriters a 30-day option to purchase an additional 3,600,000 depositary shares in connection with the offering. The offering is expected to close on or about August 16, 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 "TDSPrV."
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 subsidiaries TDS Telecommunications LLC and TDS Broadband LLC (collectively, TDS Telecom). Co. has two business segments: UScellular and TDS Telecom. Co.'s operations also include the operations of its wholly-owned hosted and managed services subsidiary, which operates under the OneNeck IT Solutions brand, and its wholly-owned subsidiary Suttle-Straus, Inc.
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Avg. Broker Rec.
 
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Buy (3.00 out of 4) 30th percentile
(ranked lower than approx. 70% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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