8-KOther EventsExhibits & Filings

CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Corporate Update (Mar 12, 2013)

Filed March 12, 2013For Securities:CHTR

Summary

Charter Communications, Inc. (CHTR) filed an 8-K on March 12, 2013, reporting on an event that occurred on March 7, 2013. The primary event detailed is the completion of an underwriting agreement between the company, Goldman, Sachs & Co. as the underwriter, and certain selling stockholders. This agreement facilitated the sale of an aggregate of 9,250,000 shares of Charter's Class A common stock by these selling stockholders. The offering and sale of these shares were conducted under a previously established shelf registration statement on Form S-3. Importantly for investors, Charter Communications itself did not receive any proceeds from this sale; the transaction was solely for the benefit of the selling stockholders. The sale of these shares was completed on March 12, 2013.

Key Highlights

  • 1Charter Communications, Inc. (CHTR) reported on an underwriting agreement executed on March 7, 2013.
  • 2The agreement involved the sale of 9,250,000 shares of Class A common stock.
  • 3The shares were sold by existing "Selling Stockholders," not by the company itself.
  • 4Goldman, Sachs & Co. acted as the underwriter for this transaction.
  • 5The sale was conducted under a pre-existing shelf registration statement (Form S-3).
  • 6Charter Communications, Inc. did not receive any proceeds from the sale of these shares.
  • 7The sale of the shares was completed on March 12, 2013.

Frequently Asked Questions

No, this filing indicates that existing shares were sold by 'Selling Stockholders.' Charter Communications itself did not issue new shares nor did it sell treasury stock in this transaction.

No, the filing explicitly states that Charter Communications, Inc. did not receive any proceeds from the sale of these 9,250,000 shares. The proceeds went directly to the selling stockholders.

A shelf registration statement (Form S-3) allows a company to register securities in advance that it, or its selling stockholders, may wish to sell in the future. This filing indicates that the sale on March 7, 2013, was part of an offering previously authorized under such a registration, making the process more efficient.

The filing does not provide specific names for the 'Selling Stockholders,' but they are entities or individuals who already owned shares of Charter Communications' Class A common stock and chose to sell them in this underwritten offering.