8-KCorporate ChangesExhibits & Filings

CROWN CASTLE INC. 8-K Report, Bylaw Amendment (Nov 6, 2020)

Filed November 6, 2020For Securities:CCI

Summary

Crown Castle Inc. (CCI) has filed a Certificate of Elimination with the Secretary of State of Delaware, formally removing the provisions related to its 6.875% Mandatory Convertible Preferred Stock, Series A, from its corporate charter. This action was taken following the complete conversion of all outstanding shares of this preferred stock into common stock. As of the filing date, no shares of the Series A Preferred Stock remain issued or outstanding. This move signifies the successful conclusion of the preferred stock offering and its conversion into common equity. For investors, this simplifies the capital structure by eliminating a class of preferred stock. The conversion into common stock also means that those former preferred shareholders are now common stockholders, potentially increasing the total number of outstanding common shares and impacting per-share metrics.

Key Highlights

  • 1Crown Castle Inc. has officially eliminated its 6.875% Mandatory Convertible Preferred Stock, Series A, from its corporate charter.
  • 2The elimination was filed with the Delaware Secretary of State on November 5, 2020.
  • 3All outstanding shares of the Series A Preferred Stock have been converted into shares of common stock.
  • 4As of the filing date, there are no remaining shares of the Series A Preferred Stock issued or outstanding.
  • 5This action simplifies the company's capital structure by removing a class of preferred stock.
  • 6The filing is considered an amendment to the company's articles of incorporation.

Frequently Asked Questions

The main purpose of this filing is to formally remove the 6.875% Mandatory Convertible Preferred Stock, Series A, from Crown Castle's corporate charter, as all shares have been converted into common stock.

It means that the legal provisions and designations for the 6.875% Mandatory Convertible Preferred Stock, Series A, are no longer part of Crown Castle's Restated Certificate of Incorporation. This reflects the completion of the stock's lifecycle as a preferred security.

This action confirms the conversion of preferred stock into common stock, meaning former preferred shareholders are now common stockholders. This could lead to a slight increase in the total number of outstanding common shares, which may affect metrics like earnings per share (EPS) if not already accounted for in prior periods.

No, with the complete conversion and subsequent elimination filing, there are no ongoing obligations or rights associated with the 6.875% Mandatory Convertible Preferred Stock, Series A, for the company.