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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Sunday, January 28, 9:12 AM

Slide #247. American Tower Corporation Preferred Stock Offering

Company: American Tower Corporation (NYSE:AMT)
Date announced: 5/5/2014
Shares Offered: 4,250,000
Date of Pricing: 5/7/2014
Price Per Share: $25.00
Closed Date: 5/12/2014
Preferred Stock Offering Details: American Tower Corporation (NYSE:AMT) (the "Company") today announced that it intends to offer 4,250,000 shares of its Mandatory Convertible Preferred Stock, Series A in a registered public offering, subject to market and other conditions. The Company intends to use the net proceeds from this offering to fund recent acquisitions, including Richland Properties LLC and other related entities ("Richland"), initially funded by indebtedness incurred under its multi-currency $2.0 billion senior unsecured revolving credit facility. The remainder of the proceeds will be used for general corporate purposes. The Company intends to grant the underwriters the option to purchase an additional 637,500 shares of its Mandatory Convertible Preferred Stock.

American Tower is a holding company. Through its subsidiaries, Co. is a real estate investment trusts and independent owner, operator and developer of multitenant communications real estate. Co.'s property operations lease 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.'s services operations provides tower-related services, including site acquisition, zoning and permitting and structural analysis services, which support its site leasing business, including through the addition of new tenants and equipment on its sites.

Preferreds: AMT.PRA, AMT.PRB

Open the AMT Page at Ru Back Packer »

Name: American Tower Corp (New)
Sector: REITs
Number of ETFs Holding AMT: 97 (see which ones)
Total Market Value Held by ETFs: $5,588,990,337.5
Total Market Capitalization: $60,795,000,000
% of Market Cap. Held by ETFs: 9.19%

Open the AMT Page at Ru Back Packer (in a new window) »

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