Crown Castle Announces Pricing of Public Offering of Common Stock
March 01 2018 - 9:10AM
Crown Castle International Corp. (NYSE:CCI) ("Crown
Castle") announced today that it has priced its previously
announced public offering of 7,765,000 shares of its common
stock.
The gross proceeds from the offering are
expected to be approximately $850 million. Crown Castle intends to
use the net proceeds from this offering for general corporate
purposes, which may include the repurchase or repayment of
outstanding indebtedness, including outstanding borrowings under
its existing senior unsecured revolving credit facility.
Citigroup and J.P. Morgan 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 February 28, 2018 was $110.06 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 preliminary 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 Statements
This 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 proceeds
therefrom and the use thereof. 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.”
Underwriter Contact Information
Citigroup Global Markets Inc. c/o Broadridge Financial
Solutions1155 Long Island AvenueEdgewood, NY 11717Toll-free:
1-800-831-9146 |
J.P. Morgan Securities LLCc/o Broadridge Financial
Solutions1155 Long Island AvenueEdgewood, NY 11717Attn:
Prospectus DepartmentToll-free: 1-866-803-9204 |
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CONTACTSDan Schlanger, CFO and TreasurerBen Lowe, VP Corporate
FinanceCrown Castle International Corp.713-570-3050 |
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