Summary
American Tower Corporation (AMT) filed an 8-K on December 8, 2016, to report the issuance of 1,171,187 shares of its common stock directly to ALLTEL Communications, LLC. This issuance was in connection with AMT's exercise of a purchase option for 1,523 communications towers under a pre-existing lease agreement, as amended. The shares were issued under the company's existing shelf registration statement and were not underwritten, with no placement agents involved.
Key Highlights
- 1Issuance of 1,171,187 shares of common stock to ALLTEL Communications, LLC on December 8, 2016.
- 2Transaction related to the exercise of a purchase option for 1,523 communications towers.
- 3Shares issued directly to ALLTEL under an amended Lease and Sublease agreement dated April 2, 2001.
- 4Shares were issued under AMT's existing Form S-3 shelf registration statement (File No. 333-211829).
- 5No placement agents or underwriters were used in this direct issuance.
- 6The issued shares were already accounted for in the company's previously disclosed diluted share count.
- 7Legal opinion from Cleary Gottlieb Steen & Hamilton LLP regarding the legality of the shares issued is filed as an exhibit.