8-KMaterial AgreementsOther EventsExhibits & Filings

CROWN CASTLE INC. 8-K Report, Material Agreement (Jun 29, 2007)

Filed June 29, 2007For Securities:CCI

Summary

This Form 8-K filing by Crown Castle International Corp. (CCI) on June 29, 2007, primarily announces the entry into a material definitive agreement related to a significant secondary public offering. Specifically, the company facilitated an offering where certain selling stockholders agreed to sell an aggregate of 36,389,617 shares of CCI's common stock to underwriters. This transaction was conducted under the company's existing shelf registration statement, indicating a structured and pre-approved method for the sale of shares. The filing also includes a press release detailing the pricing of this offering. For investors, this event signifies a substantial change in the company's equity structure and potentially increases the public float of CCI's common stock. The involvement of major underwriters like Morgan Stanley, Allen & Company, and Banc of America Securities suggests a well-managed offering. The key takeaway is the large-scale divestiture of shares by existing stockholders, which could have implications for market perception and trading liquidity.

Key Highlights

  • 1Crown Castle International Corp. (CCI) filed a Form 8-K on June 29, 2007.
  • 2The primary event reported is the entry into an underwriting agreement for a registered public secondary offering.
  • 3Selling stockholders agreed to sell approximately 36.4 million shares of the company's common stock.
  • 4The offering was conducted pursuant to the company's Form S-3 shelf registration statement filed earlier in 2007.
  • 5Major underwriters involved include Morgan Stanley & Co. Incorporated, Allen & Company LLC, and Banc of America Securities LLC.
  • 6A press release announcing the pricing of the offering is attached as an exhibit.
  • 7The filing signifies a material definitive agreement related to a large-scale secondary stock offering.

Frequently Asked Questions

The main purpose of this 8-K filing is to report the entry into a material definitive agreement concerning a registered public secondary offering, where certain selling stockholders are selling a significant number of Crown Castle International Corp. common shares.

The selling stockholders named in the underwriting agreement include entities such as Fortress Registered Investment Trust, FRIT Holdings LLC, FRIT PINN LLC, FIT GSL LLC, Fortress Pinnacle Investment Fund, GCP SPV 1, LLC, GCP SPV 2, LLC, Greenhill Capital Partners, LLC, Abrams Capital Partners I, L.P., Abrams Capital Partners II, L.P., and Whitecrest Partners, L.P.

An aggregate of 36,389,617 shares of Crown Castle International Corp.'s common stock are being sold by the selling stockholders in this offering.

This filing describes a secondary offering, meaning the shares are being sold by existing stockholders, not by the company. Therefore, the proceeds from the sale of these shares go to the selling stockholders, not directly to Crown Castle International Corp.