American Tower Corp (New) | 5.50% Mandatory Convertible Preferred Stock, Series B (AMT.PRB)
Prospectus excerpt: We are offering 12,500,000 depositary shares, each of which represents a 1/10th interest in a share of our 5.50% Mandatory Convertible Preferred Stock, Series B, par value $0.01 per share (the ÙMandatory Convertible Preferred Stockˆ). The shares of Mandatory Convertible Preferred Stock will be deposited with Computershare (as defined herein), as depositary, pursuant to a deposit agreement. Holders of the depositary shares will be entitled to a proportional fractional interest in the rights and preferences of the Mandatory Convertible Preferred Stock, including conversion, dividend, liquidation and voting rights, subject to the provisions of such deposit agreement.
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.