Crown Castle Announces Pricing of Public Offering of Common Stock
November 02 2016 - 8:26AM
Crown Castle International Corp. (NYSE:CCI) ("Crown Castle")
announced today that it has priced its previously announced public
offering of 11,350,000 shares of its common stock.
The gross proceeds from the offering are
expected to be approximately $1.0 billion. Crown Castle intends to
use the net proceeds from this offering for general corporate
purposes, which may include the funding of acquisitions, including
the recently announced acquisition of FPL FiberNet Holdings, LLC
and certain other subsidiaries of NextEra Energy, Inc. (“FiberNet
Transaction”), discretionary investments and the repayment or
repurchase of outstanding indebtedness. This offering is not
contingent upon the consummation of the FiberNet Transaction.
J.P. Morgan, Citigroup and Morgan Stanley are
acting as underwriters for the offering (“Underwriters”). The
Underwriters may offer the shares of common stock from time to time
in one or more transactions on the New York Stock Exchange, in the
over-the-counter market, through negotiated transactions or
otherwise at market prices prevailing at the time of sale or at
negotiated prices. The last reported sale price of Crown
Castle’s common stock on November 1, 2016 was $89.94 per share.
The offering is being made pursuant to an
effective shelf registration statement filed with
the Securities and Exchange Commission ("SEC"). The
offering will be made only by means of a prospectus supplement and
the accompanying base prospectus, copies of which may be obtained
by contacting the Underwriters using the information provided
below. An electronic copy of the prospectus supplement,
together with the accompanying prospectus, is also available on the
SEC's website, www.sec.gov.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
in any state or other jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
CAUTIONARY LANGUAGE REGARDING
FORWARD-LOOKING STATEMENTSThis press release contains
forward-looking statements that are based on Crown Castle
management's current expectations. Such statements include
plans, projections and estimates regarding the proposed offering,
including the net proceeds therefrom and the use of such
proceeds. Such forward-looking statements are subject to
certain risks, uncertainties and assumptions, including prevailing
market conditions and other factors. Should one or more of
these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those expected. More information about potential risk
factors that could affect Crown Castle and its results is included
in Crown Castle's filings with the SEC. The term "including,"
and any variation thereof, means "including, without
limitation."
ABOUT CROWN CASTLECrown Castle
provides wireless carriers with the infrastructure they need to
keep people connected and businesses running. With
approximately 40,000 towers and 17,000 miles of fiber supporting
small cells, Crown Castle is the nation's largest provider of
shared wireless infrastructure with a significant presence in the
top 100 US markets.
UNDERWRITER CONTACT
INFORMATION
J.P. Morgan Securities
LLCc/o Broadridge Financial Solutions1155 Long Island
AvenueEdgewood, NY 11717Attention: Prospectus Department(866)
803-9204 |
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Citigroup Global Markets
Inc.c/o Broadridge Financial Solutions1155 Long Island
AvenueEdgewood, NY 11717Attention: Prospectus Department(800)
831-9146 |
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Morgan Stanley &
Co. LLC180 Varick Street, 2nd FloorNew York, NY 10014Attn:
Prospectus Department |
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Contacts: Dan Schlanger,
CFOSon Nguyen, VP & TreasurerCrown Castle International
Corp.713-570-3050 |
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