What is the main event reported in this 8-K filing?

The main event is the completion of American Tower Corporation's redemption of its remaining 3.00% convertible notes due August 15, 2012. This means the company has fully settled its obligations related to these notes.

How much of the convertible notes were converted into stock versus redeemed?

Approximately $162.1 million of the notes were converted into 7,908,316 shares of American Tower's Class A common stock. The remaining approximately $0.1 million in principal was redeemed by the company at a slight premium.

What is the impact of these conversions on the number of outstanding shares?

The conversion of the notes resulted in the issuance of 7,908,316 shares of Class A common stock. Investors should consider this increase in the share count when evaluating the company's per-share metrics.

Does this event have any immediate financial implications for American Tower?

The redemption effectively eliminates the company's outstanding convertible debt, removing future interest payment obligations on these notes and the potential for further dilution from their conversion. The redemption at a premium and the issuance of new shares are the primary financial actions detailed.

AMT 8-K SEC Disclosure — Aug 27, 2009

Summary

This 8-K filing from American Tower Corporation (AMT) on August 27, 2009, announces the completion of its redemption of all outstanding 3.00% convertible notes due August 15, 2012. The company successfully retired the remaining $162.2 million in principal amount of these notes. A significant portion, approximately $162.1 million, was converted by holders into 7,908,316 shares of AMT's Class A common stock before the redemption date.

Key Highlights

1Completion of redemption for the remaining $162.2 million principal amount of 3.00% convertible notes due August 15, 2012.
2Holders of approximately $162.1 million of the notes opted to convert them into AMT Class A common stock.
3Approximately 7,908,316 shares of Class A common stock were issued as a result of the note conversions.
4A small remaining principal amount of approximately $0.1 million was redeemed at a premium (101.125% of principal plus accrued interest).
5The redemption and conversion process was completed as per the terms outlined in the notes and the associated indenture.
6The filing includes a press release dated August 27, 2009, detailing these events.

AMERICAN TOWER CORP /MA/ 8-K Report, Corporate Update (Aug 27, 2009)

Summary

Key Highlights

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