PreferredStockChannel
American Tower Corp (New) | 5.25% Mandatory Convertible Preferred Stock, Series A (AMT.PRA)

Prospectus excerpt:  We are offering 5,250,000 shares of our 5.25% Mandatory Convertible Preferred Stock, Series A, par value $0.01 per share (the ˘Mandatory Convertible Preferred Stock÷).

Dividends on the Mandatory Convertible Preferred Stock will be payable on a cumulative basis when, as and if declared by our board of directors (or an authorized committee thereof) at an annual rate of 5.25% on the liquidation preference of $100.00 per share. We may pay declared dividends in cash or, subject to certain limitations, in shares of our common stock, par value $0.01 per share (our ˘Common Stock÷) or by delivery of any combination of cash and shares of our Common Stock on February 15, May 15, August 15 and November 15 of each year, commencing on August 15, 2014 to, and including, May 15, 2017.

Each share of the Mandatory Convertible Preferred Stock will automatically convert on May 15, 2017, into between 0.9174 and 1.1468 shares of our Common Stock, subject to anti-dilution adjustments. The number of shares of our Common Stock issuable on conversion of the Mandatory Convertible Preferred Stock will be determined based on the average VWAP (as defined herein) per share of our Common Stock over the 20 consecutive trading day period beginning on, and including, the 22nd scheduled trading day immediately preceding the mandatory conversion date. At any time prior to May 15, 2017, holders may elect to convert each share of the Mandatory Convertible Preferred Stock into shares of our Common Stock at the minimum conversion rate of 0.9174 shares of our Common Stock per share of the Mandatory Convertible Preferred Stock, subject to anti-dilution adjustments; provided, however, that if holders elect to convert any shares of the Mandatory Convertible Preferred Stock during a specified period beginning on the effective date of a fundamental change (as defined herein), such shares of the Mandatory Convertible Preferred Stock will be converted into shares of our Common Stock at the fundamental change conversion rate (as defined herein), and the holders will also be entitled to receive a fundamental change dividend make-whole amount and accumulated dividend amount (each as defined herein).

Full Prospectus PDF », AMT Page »

Series:A
Alternate symbology:AMT-A, AMT-PA, AMTprA
Redeemable?:No
Maturity Date:5/15/2017
Cumulative?:Yes
Conversion Ratio:0.9174 to 1.1468
Conversion Price:$87.20 to $109
Shares Offered:5,250,000
Overallotment:750,000
Liquidation Preference:$100
Original Coupon:5.25%
Pay Period:Quarterly
Pay Dates:15-Feb, 15-May, 15-Aug, 15-Nov
CDx3 Compliance Rating: Learn AMT.PRA's Rating
American Tower is a holding company. Through its subsidiaries, Co. is a real estate investment trusts and an independent owner, operator and developer of multitenant communications real estate. Co.'s primary 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 several other industries. Co. also provides tower-related services, including 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.

Preferreds: AMT.PRA, AMT.PRB


Open the AMT Information Page »
Name: 
American Tower Corp (New)
Website: 
www.americantower.com
Sector: 
REITs
Number of ETFs Holding AMT: 
109 (see which ones)
Total Market Value Held by ETFs: 
$17,634,841,371.76
Total Market Capitalization: 
$114,136,000,000
% of Market Cap. Held by ETFs: 
15.45%

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