As filed with the Securities and Exchange Commission on August 9, 2022.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form S-3
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
ATN International, Inc.
(Exact name of registrant as specified in its
charter)
Delaware |
47-0728886 |
(State
or other jurisdiction of |
(I.R.S.
Employer Identification No.) |
incorporation
or organization) |
|
500 Cummings Center
Beverly, Massachusetts 01915
(978) 619-1300
(Address, including zip code, and telephone number,
including area code, of registrant’s principal executive offices)
Michael T. Prior
President and Chief Executive Officer
ATN International, Inc.
500 Cummings Center
Beverly, Massachusetts 01915
(978) 619-1300
(Name, address, including zip code, and telephone
number, including area code, of agent for service)
With a copy to:
Laurie A. Cerveny, Esq.
Bryan S. Keighery, Esq.
Morgan, Lewis & Bockius LLP
One Federal Street
Boston, Massachusetts 02110
(617) 341-7700
Approximate date of commencement of proposed sale to the public:
From time to time after the effective date of this registration statement.
If the only securities being registered on this form are being offered
pursuant to dividend or interest reinvestment plans, please check the following box. ¨
If any of
the securities being registered on this form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities
Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box.
x
If this form is filed to register additional securities for an offering
pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number
of the earlier effective registration statement for the same offering. ¨
If this form is a post-effective amendment filed pursuant to Rule
462(c) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier
effective registration statement for the same offering. ¨
If this form is a registration statement pursuant to General Instruction
I.D. or a post-effective amendment thereto that should become effective upon filing with the Commission pursuant to Rule 462(e) under
the Securities Act, check the following box. ¨
If this form is a post-effective amendment to a registration statement
filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule
413(b) under the Securities Act, check the following box. ¨
Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions
of “large accelerated filer,” “accelerated filer” “smaller reporting company” and “emerging
growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated
filer ¨ |
Accelerated
filer |
x |
Non-accelerated filer
¨ |
Smaller
reporting company |
¨ |
|
Emerging
growth company |
¨ |
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 7(a)(2)(B) of the Securities Act . ¨
The registrant hereby
amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file
a further amendment that specifically states that this registration statement shall thereafter become effective in accordance with Section
8(a) of the Securities Act or until the registration statement shall become effective on such date as the Securities and Exchange Commission,
acting pursuant to said Section 8(a), may determine.
The information in this
prospectus is not complete and may be changed. We may not sell these securities or accept an offer to buy these securities until the
registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these
securities, and it is not soliciting offers to buy these securities in any state where such offer or sale is not permitted.
SUBJECT
TO COMPLETION, DATED AUGUST 9, 2022
PROSPECTUS
$300,000,000
ATN
International, Inc.
Common
Stock
Preferred Stock
Depositary Shares
Debt Securities
Warrants
Rights
Units
We
may from time to time sell up to $300,000,000 of any combination of shares of our common stock, preferred stock, depositary shares, debt
securities, warrants or rights to purchase any of such securities, and/or units consisting of two or more of such securities.
This prospectus
describes the general terms of these securities and the general manner in which these securities will be offered. We will provide specific
terms of these offerings and securities in supplements to this prospectus. You should read this prospectus, each applicable prospectus
supplement and the information incorporated by reference in this prospectus and each applicable prospectus supplement carefully before
you invest.
This
prospectus may not be used to consummate a sale of any securities unless accompanied by a prospectus supplement.
Our common
stock is traded on the Nasdaq Global Select Market under the symbol ‘‘ATNI.’’ On August 8, 2022, the last reported
sale price for our common stock, as reported on the Nasdaq Global Select Market, was $46.54 per share.
Investing
in our securities involves risks. See the section entitled ‘‘Risk Factors’’ on page 5, and in any applicable
prospectus supplement, for a discussion of the factors you should consider carefully before deciding to purchase these securities.
The securities
may be sold directly by us to investors, through agents designated from time to time or to or through underwriters or dealers. Additional
methods of sale are set forth under ‘‘Plan of Distribution.’’ If any underwriters are involved in the sale of
any securities with respect to which this prospectus is being delivered, the names of such underwriters and any applicable commissions
or discounts will be set forth in a prospectus supplement. The price to the public of such securities and the net proceeds we expect
to receive from such sale will also be set forth in a prospectus supplement. This prospectus may not be used to sell any securities unless
accompanied by a prospectus supplement.
Neither
the Securities and Exchange Commission nor any state securities commission has approved or disapproved these securities or passed on
the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.
The date of this prospectus is
TABLE OF CONTENTS
ABOUT
THIS PROSPECTUS
This
prospectus is part of a “shelf’’ registration statement that we filed with the Securities and Exchange Commission,
or SEC, using a ‘‘shelf’’ registration process. Under this shelf registration process, we may sell any combination
of the securities described in this prospectus in one or more offerings up to a total aggregate price of $300,000,000. This prospectus
provides you with a general description of the securities we may offer. Each time we use this prospectus to offer securities, we will
provide a prospectus supplement that will contain specific information about the terms of those securities. We may also add, update or
change information contained in this prospectus or in documents we have incorporated by reference into this prospectus. Please carefully
read both this prospectus and any prospectus supplement together with the additional information described below under ‘‘Where
You Can Find More Information.’’
You should
rely only on the information we have provided or incorporated by reference in this prospectus, any applicable prospectus supplement and
any related free writing prospectus filed by us with the SEC. We have not authorized anyone to provide you with different information
or to make additional representations. No dealer, salesperson or other person is authorized to give any information or to represent anything
not contained in this prospectus. You must not rely on any unauthorized information or representation. This prospectus is an offer to
sell only the securities offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. You should assume
that the information in this prospectus, any prospectus supplement, the documents incorporated by reference and any related free writing
prospectus is accurate only as of their respective dates. Our business, financial condition, results of operations and prospects may
have changed materially since those dates. We further note that the representations, warranties and covenants made by us in any agreement
that is filed as an exhibit to any document that is incorporated by reference in the accompanying prospectus were made solely for the
benefit of the parties to such agreement, including, in some cases, for the purpose of allocating risk among the parties to such agreements,
and should not be deemed to be a representation, warranty or covenant to you. Moreover, such representations, warranties or covenants
were accurate only as of the date when made. Accordingly, such representations, warranties and covenants should not be relied on as accurately
representing the current state of our affairs.
This prospectus
includes summaries of certain provisions contained in some of the documents described herein, but reference is made to the actual documents
for complete information. All of the summaries are qualified in their entirety by the actual documents. Copies of some of the documents
referred to herein have been filed, will be filed or will be incorporated by reference as exhibits to the registration statement of which
this prospectus is a part, and you may obtain copies of those documents as described under the heading ‘‘Where You Can Find
More Information.’’
References
in the prospectus to ‘‘we,’’ ‘‘our,’’ ‘‘us,’’ and the ‘‘Company’’
refer to ATN International, Inc. and its subsidiaries.
References
to dollars ($) refer to U.S. dollars unless otherwise specifically indicated.
SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This prospectus and the filings
incorporated into this prospectus by reference contain forward- looking statements relating to, among other matters, our
future financial performance and results of operations, including our expectations regarding the benefits of our acquisition of
Alaska Communications; the impact of federal support program revenues; expectations regarding future revenue, operating income,
EBITDA and capital expenditures; the competitive environment in our key markets, demand for our services and industry trends; our
expectations regarding construction progress under our agreement as part of the FirstNet Transaction and the effect such progress
will have on our financial results; expectations regarding litigation; our liquidity; and management’s plans and strategy for
the future. These forward-looking statements are based on estimates, projections, beliefs, and assumptions and are not
guarantees of future events or results. Actual future events and results could differ materially from the events and results
indicated in these statements as a result of many factors, including, among others, (1) our
ability to successfully transition our U.S. Telecom business away from wholesale wireless to other carrier and consumer-based
services; (2) our ability to replace and remove all ZTE equipment in our U.S. network, as required by the FCC, in a timely and
cost-effective manner; (3) the general performance of our operations, including operating margins, revenues, capital expenditures,
and the retention of and future growth of our subscriber base and average revenue per user; (4) our ability to realize cost
synergies and expansion plans for our newly acquired Alaska Communications business; (5) our ability to satisfy the needs and
demands of our major carrier customers; (6) our ability to efficiently and cost-effectively upgrade our networks and IT platforms to
address rapid and significant technological changes in the telecommunications industry; (7) government funding and subsidy
program availability and regulation of our businesses, which may impact our revenue, expansion plans and operating costs; (8) our
reliance on a limited number of key suppliers and vendors for timely supply of equipment and services relating to our network
infrastructure; (9) economic, political and other risks and opportunities facing our operations, including those resulting from the
pandemic, geopolitical tensions, including the invasion of Ukraine, and from inflation, including increased costs and supply chain
disruptions; (10) the loss of or an inability to recruit skilled personnel in our various jurisdictions, including key members of
management; (11) our ability to find investment or acquisition or disposition opportunities that fit our strategic goals; (12) the
occurrence of weather events and natural catastrophes and our ability to secure the appropriate level of insurance coverage for
these assets; (13) increased competition; (14) the adequacy and expansion capabilities of our network capacity and customer
service system to support our customer growth; (15) our continued access to capital and credit markets; and (16) our ability to
successfully complete our pending acquisition of Sacred Wind Enterprises and recognize the expected benefits of such acquisition.
These and other additional factors that may cause actual future events and results to differ materially from the events
and results indicated in the forward-looking statements above are set forth more fully under Item 1A ‘‘Risk
Factors’’ of our Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 16, 2022,
and as may be updated by our Quarterly Reports on Form 10-Q and the other reports we file from time to time with the SEC. Except as
required by law, we undertake no obligation and have no intention to update these forward-looking statements to reflect actual
results, changes in assumptions or changes in other factors that may affect such forward-looking statements.
ATN
INTERNATIONAL, INC.
The following summary highlights
selected information contained or incorporated by reference elsewhere in this prospectus and does not contain all of the information
that you should consider in making your investment decision. Before investing in our securities, you should carefully read this entire
prospectus, the applicable prospectus supplement and any related free writing prospectus, including the information under the caption
‘‘Risk Factors’’ herein and the applicable prospectus supplement and under similar headings in the other documents
that are incorporated by reference into this prospectus. You should also carefully read the other information incorporated by reference
into this prospectus, including our financial statements and the related notes, and the exhibits to the registration statement of which
this prospectus is a part.
Overview
We are a provider of digital
infrastructure and communications services in the United States and internationally, including the Caribbean region, with a focus on
rural and remote markets with a growing demand for infrastructure investments. Our operating subsidiaries today primarily provide: (i)
advanced wireless and wireline connectivity to residential, business and government customers, including a range of high-speed Internet
and data services, fixed and mobile wireless solutions, and video and voice services; and (ii) carrier and enterprise communications
services, such as terrestrial and submarine fiber optic transport, and communications tower facilities.
At the holding company level,
we oversee the allocation of capital within and among our subsidiaries, affiliates, new investments, and stockholders. We also have developed
significant operational expertise and resources that we use to augment the capabilities of our individual operating subsidiaries in our
local markets. Over the past 10 years, we have built a platform of resources and expertise to support our operating subsidiaries and
to improve their quality of service with greater economies of scale and expertise than would typically be available at the operating
subsidiary level. We also provide management, technical, financial, regulatory, and marketing services to our operating subsidiaries
and typically receive a management fee calculated as a percentage of their revenues, which is eliminated in consolidation. We also actively
evaluate potential acquisitions, investment opportunities and other strategic transactions, both domestic and international, and generally
look for those that we believe fit our profile of telecommunications businesses and have the potential to complement our “fiber
first” approach in markets while generating steady excess cash flows over extended periods of time. We use the cash generated from
our operations to re-invest in organic growth in our existing businesses, to make strategic investments in additional businesses, and
to return cash to our investors through dividends or stock repurchases.
As of June 30, 2022, we
offered the following types of services to our customers:
|
● |
Mobility Telecommunications Services.
We offer mobile communications services and equipment over our wireless networks to both our business and consumer subscribers. |
|
● |
Fixed Telecommunications Services.
We provide fixed data and voice telecommunications services to both our business and consumer subscribers in all of our markets.
These services include consumer broadband and high speed data solutions for businesses. For some markets, fixed services also
include video services and revenue derived from support under certain government programs. |
|
● |
Carrier Telecommunication Services.
We deliver services to other telecommunications providers such as wholesale roaming, the leasing of critical network infrastructure
such as tower and transport facilities, site maintenance and international long-distance services. |
|
● |
Managed Services. We provide information technology
services such as network, application, infrastructure and hosting services to both our business and consumer customers to complement
our fixed services in our existing markets. |
Through June 30, 2022, we had identified three operating segments to manage and review our operations and to facilitate investor presentations of
our results. These operating segments are as follows:
|
● |
International Telecom. In our international markets,
we offer fixed services, mobility services, carrier services and managed services to customers in Bermuda, the Cayman
Islands, Guyana and the US Virgin Islands. |
|
● |
US Telecom. In the United States, we offer
fixed services, carrier services, and managed services to business and consumer customers in Alaska and the western United States.
In the western United States, we also provide mobility services and private network services to enterprise and consumer customers. |
|
● |
Renewable Energy. In India, we provided distributed
generation solar power to commercial and industrial customers through January 27, 2021. |
The following chart
summarizes the operating activities of our principal subsidiaries, the segments in which we reported our revenue and the markets we served
as of June 30, 2022:
Segment |
|
Services |
|
Markets |
|
Tradenames |
International Telecom |
|
Mobility Services |
|
Bermuda, Guyana, US
Virgin Islands |
|
One, GTT+, Viya |
|
|
Fixed Services |
|
Bermuda, Cayman
Islands, Guyana, US
Virgin Islands |
|
One, Logic, GTT, Viya |
|
|
Carrier Services |
|
Bermuda, Guyana, US
Virgin Islands |
|
One, GTT+, Viya |
|
|
Managed Services |
|
Bermuda, Cayman Islands,
US Virgin Islands, Guyana |
|
Fireminds, One, Logic,
GTT, Viya |
US Telecom |
|
Mobility Services |
|
United States (rural markets) |
|
Choice, Choice NTUA Wireless, Geoverse |
|
|
Fixed Services |
|
United States |
|
Alaska Communications, Commnet, Choice, Choice NTUA
Wireless |
|
|
Carrier Services |
|
United States |
|
Alaska Communications, Commnet, Essextel |
|
|
Managed Services |
|
United States |
|
Alaska Communications,
Choice |
Renewable
Energy (1) |
|
Solar |
|
India |
|
Vibrant Energy |
|
(1) |
In January 2021, we completed the sale of 67% of the outstanding
equity in our business that owns and operates distributed generation solar power projects operated under the Vibrant name in India. |
Our principal
corporate offices are located at 500 Cummings Center, Beverly, Massachusetts, 01915. The telephone number at our principal corporate
offices is (978) 619-1300. Information contained on our website does not constitute part of this prospectus.
RISK
FACTORS
Investing
in our securities involves risk. Please see the risk factors under the heading ‘‘Risk Factors’’ in our most recent
Annual Report on Form 10-K, as revised or supplemented by the amendment filed to our Form 10-K and our Quarterly Reports on Form 10-Q,
each as filed with the SEC since the filing of our most recent Annual Report on Form 10-K, all of which are on file with the SEC and
are incorporated by reference in this prospectus. Before making an investment decision, you should carefully consider these risks as
well as other information we include or incorporate by reference in this prospectus and any prospectus supplement. Our business, financial
condition or results of operations could be materially adversely affected by any of these risks. The trading price of our securities
could decline due to the occurrence of any of these risks, and you may lose all or part of your investment. The risks and uncertainties
we have described are not the only ones facing our company. Additional risks and uncertainties not presently known to us or that we currently
deem immaterial may also affect our business operations.
USE
OF PROCEEDS
Unless
otherwise provided in a prospectus supplement, we currently intend to use all or a portion of the net proceeds from the sale of our securities
under this prospectus and an accompanying prospectus supplement for general corporate and working capital purposes. General corporate
and working capital purposes may include the repayment or refinancing of existing indebtedness, potential acquisitions of businesses
that we believe are complementary to our own (although we have no current plans, commitments or agreements with respect to any acquisitions
as of the date of this prospectus), capital expenditures and any other purpose that may be stated in any prospectus supplement. We may
temporarily invest the net proceeds in a variety of capital preservation instruments, including investment-grade, interest-bearing instruments
and U.S. government securities, until they are used for their stated purpose.
DESCRIPTION
OF CAPITAL STOCK
Our
authorized capital stock consists of 50,000,000 shares of common stock, par value $0.01 per share, and 10,000,000 shares of
preferred stock, par value $0.01 per share. As of August 8, 2022, 15,763,341 shares of common stock and no shares of preferred stock
were outstanding.
Common Stock
Subject
to any preferential rights, holders of our common stock are entitled to one vote per share for the election of directors and on all other
matters that require stockholder approval. Subject to preferences that may be applicable to any outstanding shares of preferred stock,
the holders of common stock are entitled to receive ratably such dividends as may be declared by the Board of Directors out of funds
legally available therefor. In the event of a liquidation, dissolution or winding up of our Company, holders of our common stock are
entitled to share ratably in all assets remaining after payment of liabilities and the liquidation preferences of any outstanding shares
of preferred stock. Holders of common stock have no preemptive rights and no right to convert their common stock into any other securities.
There are no redemption or sinking fund provisions applicable to our common stock
The
outstanding shares of our common stock are legally issued, fully paid and non-assessable. The common stock does not have any preemptive,
subscription or conversion rights. Additional shares of authorized common stock may be issued, as authorized by our Board of Directors
from time to time, without stockholder approval, except as may be required by applicable stock exchange requirements.
Preferred Stock
Under
our certificate of incorporation, our Board of Directors has the authority, without further action by stockholders, to designate up to
10,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges, qualifications and restrictions
granted to or imposed upon the preferred stock, including dividend rights, conversion rights, voting rights, rights and terms of redemption,
liquidation preference and sinking fund terms, any or all of which may be greater than the rights of the common stock. As of the date
of this prospectus, there are no shares of preferred stock outstanding.
Our
Board of Directors will fix the rights, preferences, privileges, qualifications and restrictions of the preferred stock of each series
that we sell under this prospectus and applicable prospectus supplements in the certificate of designation relating to that series. We
will incorporate by reference into the registration statement, of which this prospectus is a part, the form of any certificate of designation
that describes the terms of the series of preferred stock we are offering before the issuance of the related series of preferred stock.
This description will include:
| · | the
title and stated value; |
| · | the
number of shares we are offering; |
| · | the
liquidation preference per share; |
| · | the
purchase price per share; |
| · | the
dividend rate per share, dividend period and payment dates and method of calculation for
dividends; including our right, if any, to defer payment of dividends and the maximum length
of any such deferral period; |
| | |
| · | whether
dividends will be cumulative or non-cumulative and, if cumulative, the date from which dividends
will accumulate; |
| | |
| · | the
provisions for redemption or repurchase, if applicable, and any restrictions on our ability
to exercise those redemption and repurchase rights; |
| · | any
listing of the preferred stock on any securities exchange or market; |
| · | whether
the preferred stock will be convertible into or exchangeable for any other securities and
the terms of such conversion or exchange; |
| · | voting
rights, if any, of the preferred stock; |
| · | restrictions
on transfer, sale or other assignment, if any; and |
| · | any
other specific terms, rights, preferences, privileges, qualifications or restrictions of
the preferred stock. |
When
we issue shares of preferred stock under this prospectus, the shares will be fully paid and non-assessable. The issuance of preferred
stock could:
| · | adversely
affect the voting power of holders of our common stock and reduce the likelihood that common
stockholders will receive dividend payments and payments upon liquidation; |
| · | have
the effect of decreasing the market price of our common stock; and |
| · | have
the effect of delaying, deterring or preventing a change in control of our company. |
Delaware
law provides that the holders of preferred stock will have the right to vote separately as a class on any proposal involving fundamental
changes in the rights of holders of that preferred stock. This right is in addition to any voting rights that may be provided for in
the applicable certificate of designation.
Anti-Takeover Provisions
of Delaware Law and our Corporate Documents
Delaware
Law. We are governed by the provisions of Section 203 of the Delaware General Corporation Law. In general, Section 203 prohibits
a Delaware corporation from engaging in a ‘‘business combination’’ with an ‘‘interested stockholder’’
for a period of three years after the date of the transaction in which the person became an interested stockholder, unless:
| · | before
the date that the person became an ‘‘interested stockholder,’’ the
Board of Directors approved either the ‘‘business combination’’ or
the transaction which makes the person an ‘‘interested stockholder’’; |
| · | upon
completion of the transaction that results in the ‘‘interested stockholder’’
becoming an ‘‘interested stockholder,’’ the ‘‘interested
stockholder’’ owned at least 85% of the voting stock of the corporation outstanding
at the time the transaction commenced; or |
| · | on
or subsequent to the date that the person became an ‘‘interested stockholder,’’
the business combination is approved by the Board of Directors and the vote of at least 662⁄3%
of the outstanding voting stock that is not owned by the ‘‘interested stockholder.’’ |
Generally,
a ‘‘business combination’’ includes a merger, asset sale or other transaction resulting in a financial benefit
to the stockholder. An ‘‘interested stockholder’’ is a person who either owns 15% or more of our outstanding
voting stock or, together with affiliates and associates, owns or, within three prior years, did own, 15% or more of our outstanding
voting stock. The statute could have the effect of delaying, deferring or preventing a change in our control with respect to transactions
our Board of Directors does not approve in advance.
By-Laws
and Certificate of Incorporation Provisions. Our by-laws provide that special meetings of our stockholders may be called by the Chairman
of the Board of Directors or President and shall be called by the Secretary upon the request in writing of a stockholder or stockholders
holding of record at least 50% of the voting power of the issued and outstanding shares of our stock entitled to vote at such a meeting.
Our certificate of incorporation also specifies that the Board of Directors may amend or repeal our by-laws, and it gives the Board of
Directors the power to use preferred stock with any characteristics it deems fit. Further, our certificate of incorporation does not
include a provision for cumulative voting for directors. Under cumulative voting, a minority stockholder holding a sufficient percentage
of a class of shares may be able to ensure the election of one or more directors.
These
provisions contained in our certificate of incorporation and by-laws could delay or discourage transactions involving an actual or potential
change in control of us or our management, including transactions in which stockholders might otherwise receive a premium for their shares
over then current prices. Such provisions could also limit the ability of stockholders to remove current management or approve transactions
that stockholders may deem to be in their best interests and could adversely affect the price of our common stock.
Transfer Agent and
Registrar
The
transfer agent and registrar for our common stock is Computershare Trust Company, N.A.
Listing on the Nasdaq
Stock Market
Our
common stock is listed on the Nasdaq Global Select Market under the symbol ‘‘ATNI.’’
DESCRIPTION
OF DEPOSITARY SHARES
We
may issue receipts for depositary shares representing fractional shares of preferred stock. The fractional share of the applicable series
of preferred stock represented by each depositary share will be set forth in the applicable prospectus supplement.
The
shares of any series of preferred stock underlying any depositary shares that we may sell under this prospectus will be deposited under
a deposit agreement between us and a depositary selected by us. Subject to the terms of the deposit agreement, each holder of a depositary
share will be entitled, in proportion to the applicable fraction of a share of the preferred stock underlying the depositary share, to
all of the rights, preferences and privileges, and be subject to the qualifications and restrictions, of the preferred stock underlying
that depositary share.
The
depositary shares will be evidenced by depositary receipts issued under a deposit agreement. Depositary receipts will be distributed
to the holders of the depositary shares that are sold in the applicable offering. We will incorporate by reference into the registration
statement, of which this prospectus is a part, the form of any deposit agreement, including a form of depositary receipt, that describes
the terms of any depositary shares we are offering before the issuance of the related depositary shares. The following summaries of material
provisions of the deposit agreement, the depositary shares and the depositary receipts are subject to, and qualified in their entirety
by reference to, all of the provisions of the deposit agreement applicable to a particular offering of depositary shares. We urge you
to read the prospectus supplements relating to any depositary shares that are sold under this prospectus, as well as the complete deposit
agreement and depositary receipt.
Form
Pending
the preparation of definitive depositary receipts, the depositary may, upon our written order, issue temporary depositary receipts substantially
identical to the definitive depositary receipts but not in definitive form.
These
temporary depositary receipts entitle their holders to all of the rights of definitive depositary receipts.
Temporary
depositary receipts will then be exchangeable for definitive depositary receipts at our expense.
Dividends and Other
Distributions
The
depositary will distribute all cash dividends or other cash distributions received with respect to the underlying preferred stock to
the record holders of depositary shares in proportion to the number of depositary shares owned by those holders.
If
there is a distribution other than in cash, the depositary will distribute property received by it to the record holders of depositary
shares in proportion to the number of depositary shares owned by those holders, unless the depositary determines that it is not feasible
to do so. If this occurs, the depositary may, with our approval, sell the property and distribute the net proceeds from the sale to those
holders in proportion to the number of depositary shares owned by them.
Withdrawal of Underlying
Preferred Stock
Except
as otherwise provided in a prospectus supplement, holders may surrender depositary receipts at the principal office of the depositary
and, upon payment of any unpaid amount due to the depositary, be entitled to receive the number of whole shares of underlying preferred
stock and all money and other property represented by the related depositary shares. We will not issue any partial shares of preferred
stock. If the holder delivers depositary receipts evidencing a number of depositary shares that represent more than a whole number of
shares of preferred stock, the depositary will issue a new depositary receipt evidencing the excess number of depositary shares to the
holder.
Redemption of Depositary
Shares
If
the preferred stock underlying any depositary shares we may sell under this prospectus is subject to redemption, the depositary shares
will be redeemed from the proceeds received by the depositary resulting from any such redemption, in whole or in part, of that underlying
preferred stock. The redemption price per depositary share will be equal to the applicable fraction of the redemption price per share
payable with respect to the underlying preferred stock. Whenever we redeem shares of underlying preferred stock that are held by the
depositary, the depositary will redeem, as of the same redemption date, the number of depositary shares representing the shares of underlying
preferred stock so redeemed. If fewer than all of the depositary shares are to be redeemed, the depositary shares to be redeemed will
be selected by lot or proportionately, as may be determined by the depositary.
Voting
Upon
receipt of notice of any meeting at which holders of the preferred stock underlying any depositary shares that we may sell under this
prospectus are entitled to vote, the depositary will mail the information contained in the notice to the record holders of the depositary
shares. Each record holder of the depositary shares on the record date, which will be the same date as the record date for the underlying
preferred stock, will be entitled to instruct the depositary as to the exercise of the voting rights pertaining to the amount of the
underlying preferred stock represented by the holder’s depositary shares. The depositary will then try, as far as practicable,
to vote the number of shares of preferred stock underlying those depositary shares in accordance with those instructions, and we will
agree to take all reasonable actions which may be deemed necessary by the depositary to enable the depositary to do so. The depositary
will not vote the underlying preferred stock to the extent it does not receive specific instructions with respect to the depositary shares
representing such preferred stock.
Conversion of Preferred
Stock
If
the prospectus supplement relating to any depositary shares that we may sell under this prospectus states that the underlying preferred
stock is convertible into our common stock or other securities, the following will apply. The depositary shares, as such, will not be
convertible into any of our securities. Rather, any holder of the depositary shares may surrender the related depositary receipts to
the depositary with written instructions that direct us to cause conversion of the preferred stock represented by the depositary shares
into or for whole shares of our common stock or other securities, as applicable. Upon receipt of those instructions and any amounts payable
by the holder in connection with the conversion, we will cause the conversion using the same procedures as those provided for conversion
of the underlying preferred stock. If only some of a holder’s depositary shares are converted, a new depositary receipt or receipts
will be issued to the holder for any depositary shares not converted.
Amendment and Termination
of the Deposit Agreement
The
form of depositary receipt evidencing the depositary shares and any provision of the deposit agreement may at any time be amended by
agreement between us and the depositary. However, any amendment which materially and adversely alters the rights of the holders of depositary
shares will not be effective until 90 days after notice of that amendment has been given to the holders. Each holder of depositary shares
at the time any amendment becomes effective shall be deemed to consent and agree to that amendment and to be bound by the deposit agreement
as so amended. The deposit agreement may be terminated by us or by the depositary only if all outstanding depositary shares have been
redeemed or converted into any other securities into which the underlying preferred stock is convertible or there has been a final distribution,
including to holders of depositary receipts, of the underlying preferred stock in connection with our liquidation, dissolution or winding
up.
Charges of Depositary
We
will pay all charges of the depositary, except for taxes and governmental charges and other charges as are expressly provided for in
the deposit agreement to be for the account of the holders of depositary shares or persons other than ourselves who may deposit any underlying
preferred stock with the depositary.
Reports
The
depositary will forward to holders of depositary receipts all notices and reports from us that we deliver to the depositary and that
we are required to furnish to the holders of the underlying preferred stock.
Limitation on Liability
Neither
we nor the depositary will be liable if either of us is prevented or delayed by law or any circumstance beyond our control in performing
our respective obligations under the deposit agreement. Our obligations and those of the depositary will be limited to performance of
our respective duties under the deposit agreement without, in our case, negligence or bad faith or, in the case of the depositary, negligence
or willful misconduct. We and the depositary may rely upon advice of counselor accountants, or upon information provided by persons presenting
the underlying preferred stock for deposit, holders of depositary receipts or other persons believed by us in good faith to be competent
and on documents believed to be genuine.
Resignation and Removal
of Depositary
The
depositary may resign at any time by delivering notice to us of its election to resign. We may remove the depositary at any time. Any
resignation or removal will take effect upon the appointment of a successor depositary and its acceptance of the appointment. The successor
depositary must be appointed within 60 days after delivery of the notice of resignation or removal and must be a bank or trust company
having its principal office in the United States and having a combined capital and surplus of at least $50,000,000.
DESCRIPTION
OF DEBT SECURITIES
The
following description, together with the additional information we include in any applicable prospectus supplements, summarizes the material
terms and provisions of the debt securities that we may offer under this prospectus.
While
the terms we have summarized below will generally apply to any future debt securities we may offer under this prospectus, we will describe
the particular terms of any debt securities that we may offer in more detail in the applicable prospectus supplement. The terms of any
debt securities we offer under a prospectus supplement may differ from the terms we describe below.
We
will issue the senior notes under the senior indenture, which we will enter into with the trustee named in the senior indenture. We will
issue the subordinated notes under the subordinated indenture, which we will enter into with the trustee named in the subordinated indenture.
We have filed forms of these documents as exhibits to the registration statement of which this prospectus is a part. We use the term
‘‘indentures’’ to refer to both the senior indenture and the subordinated indenture.
The
indentures will be qualified under the Trust Indenture Act of 1939. We use the term ‘‘debenture trustee’’ to
refer to either the senior trustee or the subordinated trustee, as applicable.
The
following summaries of material provisions of the senior notes, the subordinated notes and the indentures are subject to, and qualified
in their entirety by reference to, all of the provisions of the indenture applicable to a particular series of debt securities. We urge
you to read the applicable prospectus supplements related to the debt securities that we sell under this prospectus, as well as the complete
indentures that contain the terms of the debt securities. Except as we may otherwise indicate, the terms of the senior and the subordinated
indentures are identical.
General
We
will describe the terms of any series of debt securities in the applicable prospectus supplement. These terms will include, to the extent
applicable:
| · | the
principal amount being offered, and, if a series, the total amount authorized and the total
amount outstanding; |
| · | any
limit on the amount that may be issued; |
| · | whether
or not we will issue the series of debt securities in global form and, if so, the terms and
who the depositary will be; |
| · | the
principal amount due at maturity, and whether the debt securities will be issued with any
original issue discount; |
| | |
| · | whether
and under what circumstances, if any, we will pay additional amounts on any debt securities
held by a person who is not a United States person for tax purposes, and whether we can redeem
the debt securities if we have to pay such additional amounts; |
| · | the
annual interest rate, which may be fixed or variable, or the method for determining the rate,
the date interest will begin to accrue, the dates interest will be payable and the regular
record dates for interest payment dates or the method for determining such dates; |
| · | whether
or not the debt securities will be secured or unsecured, and the terms of any secured debt; |
| · | the
terms of the subordination of any series of subordinated debt; |
| · | the
place where payments will be payable; |
| · | restrictions
on transfer, sale or other assignment, if any; |
| · | our
right, if any, to defer payment of interest and the maximum length of any such deferral period; |
| · | the
date, if any, after which, the conditions upon which, and the price at which we may, at our
option, redeem the series of debt securities pursuant to any optional or provisional redemption
provisions, and any other applicable terms of those redemption provisions; |
| · | provisions
for a sinking fund purchase or other analogous fund, if any; |
| · | the
date, if any, on which, and the price at which we are obligated, pursuant to any mandatory
sinking fund or analogous fund provisions or otherwise, to redeem, or at the holder’s
option to purchase, the series of debt securities; |
| · | whether
the indenture will restrict our ability and/or the ability of our subsidiaries to: (i) incur
additional indebtedness; (ii) issue additional securities; (iii) create liens; (iv) pay dividends
and make distributions in respect of our capital stock and the capital stock of our subsidiaries; |
(v) redeem capital
stock; (vi) place restrictions on our subsidiaries’ ability to pay dividends, make distributions or transfer assets; (vii) make
investments or other restricted payments; (viii) sell or otherwise dispose of assets; (ix) enter into sale-leaseback transactions; (x)
engage in transactions with stockholders and affiliates; (xi) issue or sell stock of our subsidiaries; or (xii) effect a consolidation
or merger;
| · | whether
the indenture will require us to maintain any interest coverage, fixed charge, cash flow-based,
asset-based or other financial ratios; |
| · | a
discussion of any material or special United States federal income tax considerations applicable
to the debt securities; |
| · | information
describing any book-entry features; |
| · | the
procedures for any auction and remarketing, if any; |
| · | the
denominations in which we will issue the series of debt securities, if other than denominations
of $1,000 and any integral multiple thereof; |
| · | if
other than dollars, the currency in which the series of debt securities will be denominated;
and |
| · | any
other specific terms, preferences, rights or limitations of, or restrictions on, the debt
securities, including any events of default that are in addition to those described in this
prospectus or any covenants provided with respect to the debt securities that are in addition
to those described above, and any terms which may be required by us or advisable under applicable
laws or regulations or advisable in connection with the marketing of the debt securities. |
Conversion or Exchange
Rights
We
will set forth in the prospectus supplement the terms on which a series of debt securities may be convertible into or exchangeable for
common stock or other securities of ours or a third party, including the conversion or exchange rate, as applicable, or how it will be
calculated, and the applicable conversion or exchange period. We will include provisions as to whether conversion or exchange is mandatory,
at the option of the holder or at our option. We may include provisions pursuant to which the number of our securities or the securities
of a third party that the holders of the series of debt securities receive upon conversion or exchange would, under the circumstances
described in those provisions, be subject to adjustment, or pursuant to which those holders would, under those circumstances, receive
other property upon conversion or exchange, for example in the event of our merger or consolidation with another entity.
Consolidation, Merger
or Sale
The
indentures in the forms initially filed as exhibits to the registration statement of which this prospectus is a part do not contain any
covenant which restricts our ability to merge or consolidate, or sell, convey, transfer or otherwise dispose of all or substantially
all of our assets. However, any successor of ours or acquirer of such assets must assume all of our obligations under the indentures
and the debt securities.
If
the debt securities are convertible for our other securities, the person with whom we consolidate or merge or to whom we sell all of
our property must make provisions for the conversion of the debt securities into securities which the holders of the debt securities
would have received if they had converted the debt securities before the consolidation, merger or sale.
Events of Default Under
the Indenture
The
following are events of default under the indentures with respect to any series of debt securities that we may issue:
| · | if
we fail to pay interest when due and payable and our failure continues for 90 days and the
time for payment has not been extended or deferred; |
| · | if
we fail to pay the principal, or premium, if any, when due and payable and the time for payment
has not been extended or delayed; |
| · | if
we fail to observe or perform any other covenant contained in the debt securities or the
indentures, other than a covenant specifically relating to another series of debt securities,
and such failure continues for 90 days after we receive notice from the debenture trustee
or holders of at least 25% in aggregate principal amount of the outstanding debt securities
of the applicable series; and |
| · | if
specified events of bankruptcy, insolvency or reorganization occur. |
If
an event of default with respect to debt securities of any series occurs and is continuing, other than an event of default specified
in the last bullet point above, the debenture trustee or the holders of at least 25% in aggregate principal amount of the outstanding
debt securities of that series, by notice to us in writing, and to the debenture trustee if notice is given by such holders, may declare
the unpaid principal of, premium, if any, and accrued interest, if any, due and payable immediately. If an event of default specified
in the last bullet point above occurs with respect to us, the principal amount of and accrued interest, if any, of each issue of debt
securities then outstanding shall be due and payable without any notice or other action on the part of the debenture trustee or any holder.
The
holders of a majority in principal amount of the outstanding debt securities of an affected series may waive any default or event of
default with respect to the series and its consequences, except defaults or events of default regarding payment of principal, premium,
if any, or interest, unless we have cured the default or event of default in accordance with the indenture.
Subject
to the terms of the indentures, if an event of default under an indenture shall occur and be continuing, the debenture trustee will be
under no obligation to exercise any of its rights or powers under such indenture at the request or direction of any of the holders of
the applicable series of debt securities, unless such holders have offered the debenture trustee reasonable indemnity. The holders of
a majority in principal amount of the outstanding debt securities of any series will have the right to direct the time, method and place
of conducting any proceeding for any remedy available to the debenture trustee, or exercising any trust or power conferred on the debenture
trustee, with respect to the debt securities of that series, provided that:
| · | the
direction so given by the holder is not in conflict with any law or the applicable indenture;
and |
| · | subject
to its duties under the Trust Indenture Act of 1939, the debenture trustee need not take
any action that might involve it in personal liability or might be unduly prejudicial to
the holders not involved in the proceeding. |
A holder
of the debt securities of any series will only have the right to institute a proceeding under the indentures or to appoint a receiver
or trustee, or to seek other remedies if:
| · | the
holder has given written notice to the debenture trustee of a continuing event of default
with respect to that series; |
| · | the
holders of at least 25% in aggregate principal amount of the outstanding debt securities
of that series have made written request, and such holders have offered reasonable indemnity
to the debenture trustee to institute the proceeding as trustee; and |
| · | the
debenture trustee does not institute the proceeding, and does not receive from the holders
of a majority in aggregate principal amount of the outstanding debt securities of that series
other conflicting directions within 90 days after the notice, request and offer. |
These
limitations do not apply to a suit instituted by a holder of debt securities if we default in the payment of the principal, premium,
if any, or interest on, the debt securities.
We
will periodically file statements with the debenture trustee regarding our compliance with specified covenants in the indentures.
Modification of Indenture;
Waiver
We
and the debenture trustee may change an indenture without the consent of any holders with respect to specific matters, including:
| · | to
fix any ambiguity, defect or inconsistency in the indenture; |
| · | to
comply with the provisions described above under ‘‘—Consolidation, Merger
or Sale’’; |
| · | to
comply with any requirements of the SEC in connection with the qualification of any indenture
under the Trust Indenture Act of 1939; |
| · | to
evidence and provide for the acceptance of appointment hereunder by a successor trustee; |
| · | to
provide for uncertificated debt securities and to make all appropriate changes for such purpose; |
| · | to
add to, delete from, or revise the conditions, limitations and restrictions on the authorized
amount, terms or purposes of issuance, authorization and delivery of debt securities or any
series; |
| · | to
add to our covenants such new covenants, restrictions, conditions or provisions for the protection
of the holders, to make the occurrence, or the occurrence and the continuance, of a default
in any such additional covenants, restrictions, conditions or provisions an event of default,
or to surrender any of our rights or powers under the indenture; or |
| · | to
change anything that does not materially adversely affect the interests of any holder of
debt securities of any series. |
In
addition, under the indentures, the rights of holders of a series of debt securities may be changed by us and the debenture trustee with
the written consent of the holders of at least a majority in aggregate principal amount of the outstanding debt securities of each series
that is affected.
However, we and the debenture
trustee may only make the following changes with the consent of each holder of any outstanding debt securities affected:
| · | extending
the fixed maturity of the series of debt securities; |
| · | reducing
the principal amount, reducing the rate of or extending the time of payment of interest,
or reducing any premium payable upon the redemption of any debt securities; or |
| · | reducing
the percentage of debt securities, the holders of which are required to consent to any supplemental
indenture. |
Discharge
Each
indenture provides that we can elect to be discharged from our obligations with respect to one or more series of debt securities, except
for obligations to:
| · | register
the transfer or exchange of debt securities of the series; |
| · | replace
stolen, lost or mutilated debt securities of the series; |
| · | maintain
paying agencies; |
| · | hold
monies for payment in trust; |
| · | recover
excess money held by the debenture trustee; |
| · | compensate
and indemnify the debenture trustee; and |
| · | appoint
any successor trustee. |
In
order to exercise our rights to be discharged, we must deposit with the debenture trustee money or government obligations sufficient
to pay all of the principal of, any premium, if any, and interest on, the debt securities of the series on the dates payments are due.
Form, Exchange and Transfer
We
will issue the debt securities of each series only in fully registered form without coupons and, unless we otherwise specify in the applicable
prospectus supplement, in denominations of $1,000 and any integral multiple thereof. The indentures provide that we may issue debt securities
of a series in temporary or permanent global form and as book-entry securities that will be deposited with, or on behalf of, The Depository
Trust Company, New York, New York, known as DTC, or another depositary named by us and identified in a prospectus supplement with respect
to that series. See ‘‘Legal Ownership of Securities’’ for a further description of the terms relating to any
book-entry securities.
At
the option of the holder, subject to the terms of the indentures and the limitations applicable to global securities described in the
applicable prospectus supplement, the holder of the debt securities of any series can exchange the debt securities for other debt securities
of the same series, in any authorized denomination of like tenor and aggregate principal amount.
Subject
to the terms of the indentures and the limitations applicable to global securities set forth in the applicable prospectus supplement,
holders of the debt securities may present the debt securities for exchange or for registration of transfer, duly endorsed or with the
form of transfer endorsed thereon duly executed if so required by us or the security registrar, at the office of the security registrar
or at the office of any transfer agent designated by us for this purpose. Unless otherwise provided in the debt securities that the holder
presents for transfer or exchange, we will make no service charge for any registration of transfer or exchange, but we may require payment
of any taxes or other governmental charges.
We
will name in the applicable prospectus supplement the security registrar, and any transfer agent in addition to the security registrar,
that we initially designate for any debt securities. We may at any time designate additional transfer agents or rescind the designation
of any transfer agent or approve a change in the office through which any transfer agent acts, except that we will be required to maintain
a transfer agent in each place of payment for the debt securities of each series.
If
we elect to redeem the debt securities of any series, we will not be required to:
| · | issue,
register the transfer of, or exchange any debt securities of any series being redeemed in
part during a period beginning at the opening of business 15 days before the day of mailing
of a notice of redemption of any debt securities that may be selected for redemption and
ending at the close of business on the day of the mailing; or |
| · | register
the transfer of or exchange any debt securities so selected for redemption, in whole or in
part, except the unredeemed portion of any debt securities we are redeeming in part. |
Information Concerning
the Debenture Trustee
The
debenture trustee, other than during the occurrence and continuance of an event of default under an indenture, undertakes to perform
only those duties as are specifically set forth in the applicable indenture. Upon an event of default under an indenture, the debenture
trustee must use the same degree of care as a prudent person would exercise or use in the conduct of his or her own affairs. Subject
to this provision, the debenture trustee is under no obligation to exercise any of the powers given it by the indentures at the request
of any holder of debt securities unless it is offered reasonable security and indemnity against the costs, expenses and liabilities that
it might incur.
Payment and Paying Agents
Unless
we otherwise indicate in the applicable prospectus supplement, we will make payment of the interest on any debt securities on any interest
payment date to the person in whose name the debt securities, or one or more predecessor securities, are registered at the close of business
on the regular record date for the interest.
We
will pay principal of and any premium and interest on the debt securities of a particular series at the office of the paying agents designated
by us, except that, unless we otherwise indicate in the applicable prospectus supplement, we may make interest payments by check, which
we will mail to the holder or by wire transfer to certain holders. Unless we otherwise indicate in a prospectus supplement, we will designate
the corporate trust office of the debenture trustee in the City of New York as our sole paying agent for payments with respect to debt
securities of each series. We will name in the applicable prospectus supplement any other paying agents that we initially designate for
the debt securities of a particular series. We will maintain a paying agent in each place of payment for the debt securities of a particular
series.
All
money we pay to a paying agent or the debenture trustee for the payment of the principal of or any premium or interest on any debt securities
which remains unclaimed at the end of two years after such principal, premium or interest has become due and payable will be repaid to
us, and the holder of the debt security thereafter may look only to us for payment thereof.
Governing Law
The
indentures and the debt securities will be governed by and construed in accordance with the laws of the State of New York, except to
the extent that the Trust Indenture Act of 1939 is applicable.
Subordination of Subordinated
Debt Securities
The
subordinated debt securities will be subordinate and junior in priority of payment to certain of our other indebtedness to the extent
described in a prospectus supplement. The indentures in the forms initially filed as exhibits to the registration statement of which
this prospectus is a part do not limit the amount of indebtedness which we may incur, including senior indebtedness or subordinated indebtedness,
and do not limit us from issuing any other debt, including secured debt or unsecured debt.
DESCRIPTION
OF WARRANTS
General
We
may issue warrants to purchase common stock (which we refer to as common stock warrants), preferred stock (which we refer to as preferred
stock warrants), depositary shares (which we refer to as depositary share warrants) or debt securities (which we refer to as debt warrants).
Any of these warrants may be issued independently or together with any other securities offered by this prospectus and may be attached
to or separate from those securities.
While
the terms we have summarized below will generally apply to any future warrants we may offer under this prospectus, we will describe the
particular terms of any warrants that we may offer in more detail in the applicable prospectus supplement. The terms of any warrants
we offer under a prospectus supplement may differ from the terms we describe below.
We
will issue the warrants under a warrant agreement, which we will enter into with a warrant agent to be selected by us. We use the term
‘‘warrant agreement’’ to refer to any of these warrant agreements. We use the term ‘‘warrant agent’’
to refer to the warrant agent under any of these warrant agreements. The warrant agent will act solely as an agent of ours in connection
with the warrants and will not act as an agent for the holders or beneficial owners of the warrants.
We
will incorporate by reference into the registration statement, of which this prospectus is a part, the form of warrant agreement, including
a form of warrant certificate, that describes the terms of the series of warrants we are offering before the issuance of the related
series of warrants. The following summaries of material provisions of the warrants and the warrant agreements are subject to, and qualified
in their entirety by reference to, all of the provisions of the warrant agreement applicable to a particular series of warrants. We urge
you to read the applicable prospectus supplements related to the warrants that we sell under this prospectus, as well as the complete
warrant agreements that contain the terms of the warrants.
Debt Warrants
We
will describe the terms of any debt warrants in the applicable prospectus supplement. Those terms will include, to the extent applicable:
| · | the
offering price and the aggregate number of warrants offered; |
| · | their
issue price or prices; |
| · | the
designation, aggregate principal amount and terms of the debt securities purchasable upon
exercise, and the procedures and conditions relating to exercise; |
| · | the
designation and terms of any related debt securities and the number of debt warrants issued
with each security; |
| · | the
date on and after which the debt warrants and the related debt securities will be separately
transferable; |
| · | the
principal amount of debt securities purchasable upon exercise, and the price at which that
principal amount of debt securities may be purchased upon exercise; |
| · | the
commencement and expiration dates of the right to exercise; |
| · | a
discussion of the material United States federal income tax considerations applicable to
holding and exercising the warrants; and |
| · | any
other terms, preferences, rights or limitations of, or restrictions on, the warrants. |
Debt
warrant certificates will be exchangeable for new debt warrant certificates of different denominations, and debt warrants may be exercised
at the corporate trust office of the warrant agent or any other office indicated in the applicable prospectus supplement. Before exercising
their debt warrants, holders will not have any of the rights of holders of the securities purchasable upon exercise and will not be entitled
to payments of principal of, or premium, if any, or interest, if any, on the securities purchasable upon exercise or to enforce covenants
in the applicable indenture.
Other Warrants
We
will describe the terms of any preferred stock warrants, common stock warrants or depositary share warrants in the applicable prospectus
supplement. Those terms will include, to the extent applicable:
| · | the
offering price and the aggregate number of warrants offered; |
| · | the
total number of shares that can be purchased if a holder of the warrants exercises them and,
in the case of warrants for preferred stock or depositary shares, the designation, total
number and terms of the series of preferred stock that can be purchased upon exercise or
that are underlying the depositary shares that can be purchased upon exercise; |
| · | the
designation and terms of any series of preferred stock or depositary shares with which the
warrants are being offered and the number of warrants being offered with each share of common
stock, preferred stock or depositary share; |
| · | the
date on and after which the holder of the warrants can transfer them separately from the
related common stock or series of preferred stock or depositary shares; |
| · | the
number of shares of common stock or preferred stock or depositary shares that can be purchased
if a holder exercises the warrant and the price at which such common stock, preferred stock
or depositary shares may be purchased upon exercise, including, if applicable, any provisions
for changes to or adjustments in the exercise price and in the securities or other property
receivable upon exercise; |
| · | the
terms of any rights to redeem or call, or accelerate the expiration of, the warrants; |
| · | the
date on which the right to exercise the warrants begins and the date on which that right
expires; |
| · | United
States federal income tax consequences of holding or exercising the warrants; and |
| · | any
other specific terms, preferences, rights or limitations of, or restrictions on, the warrants. |
Warrants
for the purchase of common stock, preferred stock or depositary shares will be in registered form only.
A holder
of warrant certificates may exchange them for new certificates of different denominations, present them for registration of transfer
and exercise them at the corporate trust office of the warrant agent or any other office indicated in the applicable prospectus supplement.
Until any warrants to purchase debt securities are exercised, the holder of the warrants will not have any of the rights of holders of
the debt securities that can be purchased upon exercise, including any rights to receive payments of principal, premium or interest on
the underlying debt securities or to enforce covenants in the applicable indenture. Until any warrants to purchase common stock, preferred
stock or depositary shares are exercised, holders of the warrants will not have any rights of holders of the underlying common stock,
preferred stock or depositary shares, including any rights to receive dividends or to exercise any voting rights, except to the extent
set forth under ‘‘—Warrant Adjustments’’ below.
Exercise of Warrants
Each
warrant will entitle the holder to purchase for cash the principal amount of debt securities, shares of preferred stock, common stock
or depositary shares at the applicable exercise price set forth in, or determined as described in, the applicable prospectus supplement.
Warrants may be exercised at any time up to the close of business on the expiration date set forth in the applicable prospectus supplement.
After the close of business on the expiration date, unexercised warrants will become void.
Warrants
may be exercised by delivering to the corporation trust office of the warrant agent or any other officer indicated in the applicable
prospectus supplement (a) the warrant certificate properly completed and duly executed and (b) payment of the amount due upon exercise.
As soon as practicable following exercise, we will forward the debt securities, shares of preferred stock, common stock purchasable or
depositary shares upon exercise. If less than all of the warrants represented by a warrant certificate are exercised, a new warrant certificate
will be issued for the remaining warrants.
Amendments and Supplements
to the Warrant Agreements
We
may amend or supplement a warrant agreement without the consent of the holders of the applicable warrants to cure ambiguities in the
warrant agreement, to cure or correct a defective provision in the warrant agreement, or to provide for other matters under the warrant
agreement that we and the warrant agent deem necessary or desirable, so long as, in each case, such amendments or supplements do not
materially adversely affect the interests of the holders of the warrants.
Warrant Adjustments
Unless
the applicable prospectus supplement states otherwise, the exercise price of, and the number of securities covered by, a common stock
warrant, preferred stock warrant or depositary share warrant will be adjusted proportionately if we subdivide or combine our common stock,
preferred stock or depositary shares, as applicable. In addition, unless the prospectus supplement states otherwise, if we, without payment:
| · | issue
capital stock or other securities convertible into or exchangeable for common stock or preferred
stock, or any rights to subscribe for, purchase or otherwise acquire any of the foregoing,
as a dividend or distribution to holders of our common stock or preferred stock; |
| · | pay
any cash to holders of our common stock or preferred stock other than a cash dividend paid
out of our current or retained earnings or other than in accordance with the terms of the
preferred stock; |
| · | issue
any evidence of our indebtedness or rights to subscribe for or purchase our indebtedness
to holders of our common stock or preferred stock; or |
| · | issue
common stock or preferred stock or additional stock or other securities or property to holders
of our common stock or preferred stock by way of spinoff, split-up, reclassification, combination
of shares or similar corporate rearrangement, |
then the holders of common
stock warrants, preferred stock warrants and depositary share warrants, as applicable, will be entitled to receive upon exercise of the
warrants, in addition to the securities otherwise receivable upon exercise of the warrants and without paying any additional consideration,
the amount of stock and other securities and property such holders would have been entitled to receive had they held the common stock,
preferred stock or depositary shares, as applicable, issuable under the warrants on the dates on which holders of those securities received
or became entitled to receive such additional stock and other securities and property.
Except
as stated above, the exercise price and number of securities covered by a common stock warrant, preferred stock warrant and depositary
share warrant, and the amounts of other securities or property to be received, if any, upon exercise of those warrants, will not be adjusted
or provided for if we issue those securities or any securities convertible into or exchangeable for those securities, or securities carrying
the right to purchase those securities or securities convertible into or exchangeable for those securities.
Holders
of common stock warrants, preferred stock warrants and depositary share warrants may have additional rights under the following circumstances:
| · | certain
reclassifications, capital reorganizations or changes of the common stock, preferred stock
or depositary shares, as applicable; |
| · | certain
share exchanges, mergers, or similar transactions involving us and which result in changes
of the common stock, preferred stock or depositary shares, as applicable; or |
| · | certain
sales or dispositions to another entity of all or substantially all of our property and assets. |
If
one of the above transactions occurs and holders of our common stock, preferred stock or depositary shares are entitled to receive stock,
securities or other property with respect to or in exchange for their securities, the holders of the common stock warrants, preferred
stock warrants and depositary share warrants then outstanding, as applicable, will be entitled to receive upon exercise of their warrants
the kind and amount of shares of stock and other securities or property that they would have received upon the applicable transaction
if they had exercised their warrants immediately before the transaction.
DESCRIPTION
OF RIGHTS
General
We
may issue rights to purchase common stock, preferred stock or debt securities. Any of these rights may be issued independently or together
with any other securities offered by this prospectus and may be attached to or separate from those securities. Rights may be issued independently
or together with other securities and may or may not be transferable by the person purchasing or receiving the rights. In connection
with any rights offering to our stockholders, we may enter into a standby underwriting, backstop or other arrangement with one or more
underwriters or other persons pursuant to which such underwriters or other persons would purchase any offered securities remaining unsubscribed
for after such rights offering. In connection with a rights offering to our stockholders, we would distribute certificates evidencing
the rights and a prospectus supplement to our stockholders on or about the record date that we set for receiving rights in such rights
offering.
While
the terms we have summarized below will generally apply to any future rights we may offer under this prospectus, we will describe the
particular terms of any rights that we may offer in more detail in the applicable prospectus supplement. The terms of any rights we offer
under a prospectus supplement may differ from the terms we describe below.
We
will issue the rights under a rights agreement, which we will enter into with a bank or trust company, as rights agent. We use the term
‘‘rights agreement’’ to refer to any of these rights agreements.
We
will incorporate by reference into the registration statement of which this prospectus is a part the form of rights agreement, including
a form of rights certificate, if any, that describes the terms of the rights we are offering before the issuance of the related rights.
The following summaries of material provisions of the rights and the rights agreements are subject to, and qualified in their entirety
by reference to, all of the provisions of the rights agreement applicable to the rights. We urge you to read the applicable prospectus
supplements related to the rights that we sell under this prospectus, as well as the complete rights agreements that contain the terms
of such rights.
We
will describe the terms of any rights in the applicable prospectus supplement. Those terms will include, to the extent applicable:
| · | the
title and aggregate number of the rights; |
| · | the
subscription price or a formula for the determination of the subscription price for the rights
and the currency or currencies in which the subscription price may be payable; |
| · | if
applicable, the designation and terms of the securities with which the rights are issued
and the number of rights issued with each such security or each principal amount of such
security; |
| · | the
number or a formula for the determination of the number of the rights issued to each stockholder; |
| · | the
extent to which the rights are transferable; |
| · | in
the case of rights to purchase debt securities, the principal amount of debt securities purchasable
upon exercise of one right; |
| · | in
the case of rights to purchase common or preferred stock or depositary shares, the number
of shares of common or preferred stock or depositary shares, as the case may be, purchasable
upon exercise of one right; |
| · | the
date on which the right to exercise the rights will commence, and the date on which the rights
will expire (subject to any extension); |
| · | if
applicable, the minimum or maximum amount of the rights that may be exercised at any one
time; |
| · | the
extent to which such rights include an over-subscription privilege with respect to unsubscribed
securities; |
| · | if
applicable, the procedures for adjusting the subscription price and number of shares of common
stock or preferred stock purchasable upon the exercise of each right upon the occurrence
of certain events, including stock splits, reverse stock splits, combinations, subdivisions
or reclassifications of common stock or preferred stock; |
| · | the
effect of any merger, consolidation, sale or other disposition of our business on the rights; |
| · | the
terms of any rights to redeem or call the rights; |
| · | information
with respect to book-entry procedures, if any; |
| · | the
terms of the securities issuable upon exercise of the rights; |
| · | a
discussion of the material United States federal income tax considerations applicable to
holding and exercising the rights; and |
| · | any
other terms of the rights, including terms, procedures and limitations relating to the exchange
and exercise of the rights. |
Exercise of Rights
Each
right will entitle the holder to purchase for cash or other consideration such shares of stock or principal amount of securities at the
subscription price as shall in each case be set forth in, or be determinable as set forth in, the prospectus supplement relating to the
rights offered thereby. Rights may be exercised as set forth in the prospectus supplement beginning on the date specified therein and
continuing until the close of business on the expiration date set forth in the prospectus supplement relating to the rights offered thereby
(subject to any extension). After the close of business on the expiration date, unexercised rights will become void.
Upon
receipt of payment and a rights certificate properly completed and duly executed at the corporate trust office of the rights agent or
any other office indicated in the prospectus supplement, we will, as soon as practicable, forward the securities purchasable upon such
exercise. If less than all of the rights represented by such rights certificate are exercised, a new rights certificate will be issued
for the remaining rights. If we so indicate in the applicable prospectus supplement, holders of the rights may surrender securities as
all or part of the exercise price for rights.
We
may determine to offer any unsubscribed offered securities directly to stockholders, persons other than stockholders, to or through agents,
underwriters or dealers or through a combination of such methods, including pursuant to standby underwriting, backstop or other arrangements,
as set forth in the applicable prospectus supplement.
Prior
to exercising their rights, holders of rights will not have any of the rights of holders of the securities purchasable upon subscription,
including, in the case of rights to purchase common stock or preferred stock, the right to receive dividends, if any, or payments upon
our liquidation, dissolution or winding up or to exercise any voting rights or, in the case of rights to purchase debt securities, the
right to receive principal, premium, if any, or interest payments, on the debt securities purchasable upon exercise or to enforce covenants
in the applicable indenture.
Governing Law
The
rights and rights certificates will be governed by, and construed in accordance with, the laws of the State of Delaware.
DESCRIPTION
OF UNITS
The
following description, together with the additional information we include in any applicable prospectus supplements, summarizes the material
terms and provisions of the units that we may offer under this prospectus. Units may be offered independently or together with common
stock, preferred stock, depositary shares, debt securities, warrants and/or rights offered by any prospectus supplement, and may be attached
to or separate from those securities. While the terms we have summarized below will generally apply to any future units that we may offer
under this prospectus, we will describe the particular terms of any series of units that we may offer in more detail in the applicable
prospectus supplement. The terms of any units offered under a prospectus supplement may differ from the terms described below.
We
will issue the units under a unit agreement. We use the term ‘‘unit agreement’’ to refer to any of these unit
agreements.
We
will incorporate by reference into the registration statement of which this prospectus is a part the form of unit agreement, including
a form of unit certificate, if any, that describes the terms of the series of units we are offering before the issuance of the related
series of units. The following summaries of material provisions of the units and the unit agreements are subject to, and qualified in
their entirety by reference to, all of the provisions of the unit agreement applicable to a particular series of units. We urge you to
read the applicable prospectus supplements related to the units that we sell under this prospectus, as well as the complete unit agreements
that contain the terms of the units.
General
We
may issue units comprised of one or more debt securities, shares of common stock, shares of preferred stock, depositary shares, warrants
and rights in any combination. Each unit will be issued so that the holder of the unit is also the holder of each security included in
the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each included security. The unit agreement under
which a unit is issued may provide that the securities included in the unit may not be held or transferred separately, at any time or
at any time before a specified date.
We
will describe in the applicable prospectus supplement the terms of the series of units, including:
| · | the
designation and terms of the units and of the securities comprising the units, including
whether and under what circumstances those securities may be held or transferred separately; |
| · | any
provisions of the governing unit agreement that differ from those described below; and |
| · | any
provisions for the issuance, payment, settlement, transfer or exchange of the units or of
the securities comprising the units. |
The
provisions described in this section, as well as those described under ‘‘Description of Capital Stock,’’ ‘‘Description
of Depositary Shares,’’ ‘‘Description of Debt Securities,’’ ‘‘Description of Warrants’’
and ‘‘Description of Rights’’ will apply to each unit and to any common stock, preferred stock, depositary share,
debt security, warrant or right included in each unit, respectively.
Issuance in Series
We
may issue units in such amounts and in numerous distinct series as we determine.
Enforceability of Rights
by Holders of Units
Each
unit agent will act solely as our agent under the applicable unit agreement and will not assume any obligation or relationship of agency
or trust with any holder of any unit. A single bank or trust company may act as unit agent for more than one series of units. A unit
agent will have no duty or responsibility in case of any default by us under the applicable unit agreement or unit, including any duty
or responsibility to initiate any proceedings at law or otherwise, or to make any demand upon us. Any holder of a unit may, without the
consent of the related unit agent or the holder of any other unit, enforce by appropriate legal action its rights as holder under any
security included in the unit.
Title
We,
the unit agent and any of our agents may treat the registered holder of any unit certificate as an absolute owner of the units evidenced
by that certificate for any purposes and as the person entitled to exercise the rights attaching to the units so requested, despite any
notice to the contrary.
LEGAL
OWNERSHIP OF SECURITIES
We
can issue securities in registered form or in the form of one or more global securities. We describe global securities in greater detail
below. We refer to those persons who have securities registered in their own names on the books that we or any applicable trustee or
depositary or warrant agent maintain for this purpose as the ‘‘holders’’ of those securities. These persons are
the legal holders of the securities. We refer to those persons who, indirectly through others, own beneficial interests in securities
that are not registered in their own names, as ‘‘indirect holders’’ of those securities. As we discuss below,
indirect holders are not legal holders, and investors in securities issued in book-entry form or in street name will be indirect holders.
Book-Entry Holders
We
may issue securities in book-entry form only, as we will specify in the applicable prospectus supplement. This means securities may be
represented by one or more global securities registered in the name of a financial institution that holds them as depositary on behalf
of other financial institutions that participate in the depositary’s book-entry system. These participating institutions, which
are referred to as participants, in turn, hold beneficial interests in the securities on behalf of themselves or their customers.
Only
the person in whose name a security is registered is recognized as the holder of that security. Global securities will be registered
in the name of the depositary. Consequently, for global securities, we will recognize only the depositary as the holder of the securities,
and we will make all payments on the securities to the depositary. The depositary passes along the payments it receives to its participants,
which in turn pass the payments along to their customers who are the beneficial owners. The depositary and its participants do so under
agreements they have made with one another or with their customers; they are not obligated to do so under the terms of the securities.
As
a result, investors in a global security will not own securities directly. Instead, they will own beneficial interests in a global security,
through a bank, broker or other financial institution that participates in the depositary’s book-entry system or holds an interest
through a participant. As long as the securities are issued in global form, investors will be indirect holders, and not holders, of the
securities.
Street Name Holders
We
may terminate global securities or issue securities that are not issued in global form. In these cases, investors may choose to hold
their securities in their own names or in ‘‘street name.’’ Securities held by an investor in street name would
be registered in the name of a bank, broker or other financial institution that the investor chooses, and the investor would hold only
a beneficial interest in those securities through an account he or she maintains at that institution.
For
securities held in street name, we or any applicable trustee or depositary will recognize only the intermediary banks, brokers and other
financial institutions in whose names the securities are registered as the holders of those securities, and we or any such trustee or
depositary will make all payments on those securities to them. These institutions pass along the payments they receive to their customers
who are the beneficial owners, but only because they agree to do so in their customer agreements or because they are legally required
to do so. Investors who hold securities in street name will be indirect holders, not holders, of those securities.
Legal Holders
Our
obligations, as well as the obligations of any applicable trustee or third party employed by us or a trustee, run only to the legal holders
of the securities. We do not have obligations to investors who hold beneficial interests in global securities, in street name or by any
other indirect means. This will be the case whether an investor chooses to be an indirect holder of a security or has no choice because
we are issuing the securities only in global form.
For
example, once we make a payment or give a notice to the holder, we have no further responsibility for the payment or notice, even if
that holder is required, under agreements with its participants or customers or by law, to pass it along to the indirect holders, but
does not do so. Similarly, we may want to obtain the approval of the holders to amend an indenture, to relieve us of the consequences
of default or of our obligation to comply with a particular provision of an indenture, or for other purposes. In such an event, we would
seek approval only from the holders, and not the indirect holders, of the securities.
Whether
and how the holders contact the indirect holders is up to the holders.
Special Considerations
for Indirect Holders
If
you hold securities through a bank, broker or other financial institution, either in book-entry form because the securities are represented
by one or more global securities or in street name, you should check with your own institution to find out:
| · | how
it handles securities payments and notices; |
| · | whether
it imposes fees or charges; |
| · | how
it would handle a request for the holders’ consent, if ever required; |
| · | whether
and how you can instruct it to send you securities registered in your own name so you can
be a holder, if that is permitted in the future; |
| · | how
it would exercise rights under the securities if there were a default or other event triggering
the need for holders to act to protect their interests; and |
| · | if
the securities are global securities, how the depositary’s rules and procedures will
affect these matters. |
Global Securities
A
global security is a security held by a depositary that represents one or any other number of individual securities.
Generally,
all securities represented by the same global securities will have the same terms.
Each
security issued in book-entry form will be represented by a global security that we issue to, deposit with and register in the name of
a financial institution or its nominee that we select. The financial institution that we select for this purpose is called the depositary.
Unless we specify otherwise in the applicable prospectus supplement, DTC will be the depositary for all global securities issued under
this prospectus.
A global
security may not be transferred to or registered in the name of anyone other than the depositary, its nominee or a successor depositary,
unless special termination situations arise. We describe those situations below under ‘‘—Special Situations when a
Global Security will be Terminated.’’ As a result of these arrangements, the depositary, or its nominee, will be the sole
registered owner and holder of all securities represented by a global security, and investors will be permitted to own only beneficial
interests in a global security. Beneficial interests must be held by means of an account with a broker, bank or other financial institution
that in turn has an account with the depositary or with another institution that does. Thus, an investor whose security is represented
by a global security will not be a holder of the security, but only an indirect holder of a beneficial interest in the global security.
If
the prospectus supplement for a particular security indicates that the security will be issued as a global security, then the security
will be represented by a global security at all times unless and until the global security is terminated. If termination occurs, we may
issue the securities through another book-entry clearing system or decide that the securities may no longer be held through any book-entry
clearing system.
Special Considerations
for Global Securities
As
an indirect holder, an investor’s rights relating to a global security will be governed by the account rules of the investor’s
financial institution and of the depositary, as well as general laws relating to securities transfers. We do not recognize an indirect
holder as a holder of securities and instead deal only with the depositary that holds the global security.
If securities are issued
only as global securities, an investor should be aware of the following:
| · | An
investor cannot cause the securities to be registered in his or her name, and cannot obtain
non-global certificates for his or her interest in the securities, except in the special
situations we describe below; |
| · | An
investor will be an indirect holder and must look to his or her own bank or broker for payments
on the securities and protection of his or her legal rights relating to the securities, as
we describe above under ‘‘—Legal Holders’’; |
| · | An
investor may not be able to sell interests in the securities to some insurance companies
and to other institutions that are required by law to own their securities in non-book-entry
form; |
| · | An
investor may not be able to pledge his or her interest in the global security in circumstances
where certificates representing the securities must be delivered to the lender or other beneficiary
of the pledge in order for the pledge to be effective; |
| · | The
depositary’s policies, which may change from time to time, will govern payments, transfers,
exchanges and other matters relating to an investor’s interest in the global security.
We and any applicable trustee have no responsibility for any aspect of the depositary’s
actions or for its records of ownership interests in the global security. We and the trustee
also do not supervise the depositary in any way; |
| · | The
depositary may, and we understand that DTC will, require that those who purchase and sell
interests in the global security within its book-entry system use immediately available funds,
and your broker or bank may require you to do so as well; and |
| · | Financial
institutions that participate in the depositary’s book-entry system, and through which
an investor holds its interest in the global security, may also have their own policies affecting
payments, notices and other matters relating to the securities. There may be more than one
financial intermediary in the chain of ownership for an investor. We do not monitor and are
not responsible for the actions of any of those intermediaries. |
Special Situations When
a Global Security will be Terminated
In
a few special situations described below, a global security will terminate and interests in it will be exchanged for physical certificates
representing those interests. After that exchange, the choice of whether to hold securities directly or in street name will be up to
the investor. Investors must consult their own banks or brokers to find out how to have their interests in securities transferred to
their own names, so that they will be direct holders. We have described the rights of holders and street name investors above.
A global
security will terminate when the following special situations occur:
| · | if
the depositary notifies us that it is unwilling, unable or no longer qualified to continue
as depositary for that global security and we do not appoint another institution to act as
depositary within 90 days; |
| · | if
we notify any applicable trustee that we wish to terminate that global security; or |
| · | if
an event of default has occurred with regard to securities represented by that global security
and has not been cured or waived. |
The
prospectus supplement may also list additional situations for terminating a global security that would apply only to the particular series
of securities covered by the prospectus supplement. When a global security terminates, the depositary, and not we or any applicable trustee,
is responsible for deciding the names of the institutions that will be the initial direct holders.
PLAN
OF DISTRIBUTION
We
may sell the securities being offered hereby in one or more of the following methods from time to time:
| · | to
one or more underwriters, on a firm commitment or best-efforts basis, for resale to the public
or to investors; |
| · | a
block trade, which may involve crosses, in which the broker or dealer will attempt to sell
the securities as agent but may position and resell a portion of the block as principal to
facilitate the transaction; |
| · | purchases
by a broker or dealer, including purchases by a broker or dealer as principal and resale
by such broker or dealer for its own account pursuant to this prospectus; |
| · | through
ordinary brokerage transactions and transactions in which the broker solicits purchasers; |
| · | ‘‘at
the market offerings,’’ within the meaning of Rule 415(a)(4) of the Securities
Act of 1933, as amended (the “Securities Act”); |
| · | through
agents to the public or to investors; |
| · | through
remarketing firms; |
| · | directly
to investors in privately negotiated transactions; or |
| · | through
a combination of any of these methods of sale. |
The
securities may be sold from time to time in one or more transactions at fixed prices, which may be changed; the prevailing market price
at the time of sale; varying prices determined at the time of sale; or at negotiated prices. Sales may be effected in transactions:
| · | on
any national securities exchange or quotation service on which the securities may be listed
or quoted at the time of sale; |
| · | in
the over-the-counter market; |
| · | in
transactions otherwise than on such exchanges or services or in the over-the-counter market; |
| · | through
the issuance of derivative securities, including without limitation, warrants, subscriptions,
exchangeable securities, and the writing of options; or |
| · | through
the settlement of short sales. |
The
securities may be sold through a rights offering, forward contracts or similar arrangements. In any distribution of subscription rights
to our stockholders, if all of the underlying securities are not subscribed for, we may then sell the unsubscribed securities directly
to third parties or may engage the services of one or more underwriters, dealers or agents, including standby underwriters, to sell the
unsubscribed securities to third parties.
We
may enter into derivative or other hedging transactions with third parties, or sell securities not covered by this prospectus and the
applicable prospectus supplement to third parties in privately negotiated transactions. These third parties may in turn engage in sales
of securities to hedge their position, deliver this prospectus and the applicable prospectus supplement in connection with some or all
of those sales and use the securities covered by this prospectus and the applicable prospectus supplement to close out any short position
created in connection with those sales. We may also sell securities short using this prospectus and the applicable prospectus supplement
and deliver securities covered by this prospectus and the applicable prospectus supplement to close out such short positions, or loan
or pledge securities to financial institutions that in turn may sell the securities using this prospectus and the applicable prospectus
supplement. We may loan, pledge or grant a security interest in some or all of the securities covered by this prospectus and the applicable
prospectus supplement to support a derivative or hedging position or other obligation and, if we default in the performance of our obligations,
the pledgees or secured parties may offer and sell the securities from time to time pursuant to this prospectus and the applicable prospectus
supplement.
We
will describe in a prospectus supplement the terms of the offering of securities, including:
| · | the
name or names of any underwriters, dealers or agents and the amounts of securities underwritten
or purchased by each of them, if any; |
| · | any
delayed delivery arrangements; |
| · | the
number of securities and purchase price of the securities being offered and the proceeds
we will receive from the sale; |
| · | any
over-allotment options under which underwriters may purchase additional securities from us; |
| · | any
underwriting discounts or agency fees and other items constituting underwriters’ or
agents’ compensation; |
| · | any
discounts or concessions allowed or reallowed or paid to dealers; and |
| · | any
securities exchange on which the securities may be listed. |
If
we use underwriters for a sale of securities, the underwriters will acquire the securities for their own account. The underwriters may
resell the securities in one or more transactions, including negotiated transactions, at a fixed public offering price or at varying
prices determined at the time of sale. The obligations of the underwriters to purchase the securities will be subject to the conditions
set forth in the applicable underwriting agreement. We may change from time to time any initial public offering price and any discounts
or concessions the underwriters allow, reallow or pay to dealers. We may use underwriters with whom we have a material relationship.
We may offer the securities to the public through an underwriting syndicate or through a single underwriter. We will describe in the
prospectus supplement naming the underwriter the nature of any such relationship.
We
may designate agents to sell the offered securities. Unless otherwise specified in connection with any particular offering of securities,
the agents will agree to use their best efforts to solicit purchases for the period of their appointment. We may also sell the offered
securities to one or more remarketing firms, acting as principals for their own accounts or as agents for us. These firms will remarket
the offered securities upon purchasing them in accordance with a redemption or repayment pursuant to the terms of the offered securities.
A prospectus supplement or pricing supplement, as the case may be will identify any remarketing firm and will describe the terms of its
agreement, if any, with us and its compensation.
In
connection with offerings made through underwriters or agents, we may enter into agreements with such underwriters or agents pursuant
to which we receive our outstanding securities in consideration for the securities being offered to the public for cash. In connection
with these arrangements, the underwriters or agents may also sell securities covered by this prospectus to hedge their positions in these
outstanding securities, including in short sale transactions. If so, the underwriters or agents may use the securities received from
us under these arrangements to close out any related open borrowings of securities.
Underwriters,
dealers and agents that participate in the distribution of the securities may be underwriters as defined in the Securities Act and any
discounts or commissions they receive from us and any profit on their resale of the securities may be treated as underwriting discounts
and commissions under the Securities Act. In no event shall any broker-dealer receive fees, commissions or mark-ups that, in the aggregate,
would exceed 8% of the gross proceeds from any offering pursuant to this prospectus. We will identify in the applicable prospectus supplement
any underwriters, dealers or agents and will describe their compensation. We may have agreements with the underwriters, dealers and agents
to indemnify them against specified civil liabilities, including liabilities under the Securities Act. Underwriters, dealers and agents
may engage in transactions with or perform services for us or our subsidiaries in the ordinary course of their businesses, including
commercial banking and investment banking transactions.
We
or an underwriter may sell the offered securities to dealers as principals. We may negotiate and pay dealers’ commissions, discounts
or concessions for their services. The dealer may then resell such securities to the public either at varying prices to be determined
by the dealer or at a fixed offering price agreed to with us at the time of resale. Dealers engaged by us may allow other dealers to
participate in resales.
We
may authorize agents, dealers or underwriters to solicit certain institutional investors to purchase offered securities on a delayed
delivery basis pursuant to delayed delivery contracts providing for payment and delivery on a specified future date. The applicable prospectus
supplement or pricing supplement, as the case may be, will provide the details of any such arrangement, including any conditions to each
party’s performance set forth in the contracts and the offering price and commissions payable on the solicitations.
We
will enter into such delayed contracts only with institutional purchasers that we approve. These institutions may include commercial
and savings banks, insurance companies, pension funds, investment companies and educational and charitable institutions.
There
is currently no market for any of the offered securities, other than the common stock, which is listed on the Nasdaq Global Select Market.
If the offered securities are traded after their initial issuance, they may trade at a discount from their initial offering price, depending
upon prevailing interest rates, the market for similar securities and other factors. While it is possible that an underwriter could inform
us that it intends to make a market in the offered securities, such underwriter would not be obligated to do so, and any such market-making
could be discontinued at any time without notice. Therefore, no assurance can be given as to whether an active trading market will develop
for the offered securities.
Any
underwriter may engage in overallotment, stabilizing transactions, short covering transactions and penalty bids in accordance with Regulation
M under the Exchange Act. Overallotment involves sales in excess of the offering size, which create a short position. Stabilizing transactions
permit bids to purchase the underlying security so long as the stabilizing bids do not exceed a specified maximum. Short covering transactions
involve purchases of the securities in the open market after the distribution is completed to cover short positions. Penalty bids permit
the underwriters to reclaim a selling concession from a dealer when the securities originally sold by the dealer are purchased in a covering
transaction to cover short positions. Those activities may cause the price of the securities to be higher than it would otherwise be.
If commenced, the underwriters may discontinue any of the activities at any time. These transactions may be effected on the Nasdaq Global
Select Market or otherwise.
Any
underwriters who are qualified market makers on the Nasdaq Global Select Market may engage in passive market making transactions in the
common stock on the Nasdaq Global Select Market in accordance with Rule 103 of Regulation M, during the business day before the pricing
of the offering, before the commencement of offers or sales of the common stock. Passive market makers must comply with applicable volume
and price limitations and must be identified as passive market makers. In general, a passive market maker must display its bid at a price
not in excess of the highest independent bid for such security; if all independent bids are lowered below the passive market maker’s
bid, however, the passive market maker’s bid must then be lowered when certain purchase limits are exceeded.
To
the extent required, this prospectus may be amended and/or supplemented from time to time to describe a specific plan of distribution.
We
will bear all costs, expenses and fees in connection with the registration of the securities, as well as the expense of all commissions
and discounts, if any, attributable to sales of the securities by us.
LEGAL
MATTERS
The
validity of the issuance of the securities offered hereby will be passed upon by Morgan, Lewis & Bockius LLP.
Any underwriters of the securities offered hereby will be advised as to legal matters by their own counsel, who will be named in a prospectus
supplement.
EXPERTS
The financial
statements and management’s assessment of the effectiveness of internal control over financial reporting (which is included in
Management’s Report on Internal Control over Financial Reporting) incorporated in this prospectus by reference to the Annual
Report on Form 10-K of ATN International, Inc. for the year ended December 31, 2021 have been so incorporated in reliance on the
report (which contains a paragraph relating to the effectiveness of internal control over financial reporting due to the exclusion
of Alaska Communications Systems Group, Inc. because it was acquired by the Company in a purchase business combination during 2021)
of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in
auditing and accounting.
The consolidated
financial statements of Alaska Communications Systems Group, Inc. incorporated in this Registration Statement on Form S-3 by
reference from Exhibit 99.1 of the ATN International Inc.’s Current Report on Form 8-K/A filed on October 1, 2021 and the
effectiveness of internal control over financial reporting, have been audited by Moss Adams LLP, an independent registered public
accounting firm, as stated in their reports, which are incorporated herein by reference. Such consolidated financial statements have
been so incorporated in reliance upon the reports of such firm given upon their authority as experts in auditing and
accounting.
WHERE
YOU CAN FIND MORE INFORMATION
We
file annual, quarterly and current reports, proxy statements and other information with the SEC. Our SEC filings are available to the
public over the Internet at the SEC’s website at www.sec.gov. Copies of certain information filed by us with the SEC are also available
on our website at www.atni.com. Our website is not a part of this prospectus and is not incorporated by reference in this prospectus.
INCORPORATION
OF CERTAIN DOCUMENTS BY REFERENCE
The
SEC allows us to incorporate into this prospectus information that we file with the SEC in other documents, which means that we can disclose
important information to you by referring you to those documents. The information incorporated by reference is an important part of this
prospectus. Any statement contained in a document which is incorporated by reference is automatically updated and superseded if such
information is contained in this prospectus, or information that we later file with the SEC modifies and replaces such information. We
incorporate by reference into this prospectus the documents listed below and any future filings we will make with the SEC under Sections
13(a), 13(c), 14 or 15(d) of the Exchange Act (other than information furnished under Item 2.02 or Item 7.01 of Form 8-K and all exhibits
related to such items) on or after the date of this prospectus and before the completion or termination of the offering of the securities
covered by this prospectus.
We
are incorporating by reference the following reports that we have filed with the SEC:
| · | our Current Reports on Form 8-K or 8-K/A filed on July 22, 2021, October 1, 2021, January
4, 2022, March
15, 2022, June
13, 2022 and August 8, 2022 (except that any portions thereof which are furnished and not filed shall not be deemed
incorporated); and |
| · | the
description of our common stock contained in our Registration Statement on Form S-1, filed
on September 27, 1991 under the Securities Act, as updated by Exhibit
4.1 to our Annual
Report on Form 10-K for the year ended December 31, 2019, filed on March 2, 2020, as
amended
by Amendment No. 1 to our Annual Report on Form 10-K for the year ended December 31, 2019,
filed on April 29, 2020. |
We
will furnish without charge to you, on written or oral request, a copy of all of the documents incorporated by reference, including exhibits
to these documents. You should direct any request for documents to:
ATN
International, Inc.
Attention:
Corporate Secretary 500 Cummings Center
Beverly,
Massachusetts 01915
(978)
619-1300
ATN
International, Inc.
$300,000,000
Common
Stock
Preferred
Stock
Depositary
Shares
Debt
Securities
Warrants
Rights
Units
PROSPECTUS
PART
II
INFORMATION
NOT REQUIRED IN PROSPECTUS
ITEM
14. OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION
The
following table sets forth the estimated costs and expenses, other than the underwriting discounts and commissions, payable by the registrant
in connection with the offering by us of the securities being registered. All the amounts shown are estimates, except for the registration
fee.
SEC
registration fee | |
$ | 27,810 | |
Accounting
fees and expenses | |
| * | |
Legal
fees and expenses | |
| * | |
Printing
and miscellaneous expenses | |
| * | |
Total | |
$ | * | |
| * | These
fees and expenses will be calculated based upon (i) the securities offered and (ii) the number
of issuances, and accordingly are not estimated at this time. Such fees will be reflected
in the applicable prospectus supplement. |
ITEM 15. INDEMNIFICATION
OF DIRECTORS AND OFFICERS
Section
145 of the General Corporation Law of the State of Delaware (the ‘‘DGCL’’) provides that we have the power to
indemnify directors, officers, employees or agents and certain other persons serving at our request in related capacities against amounts
paid and expenses incurred in connection with an action or proceeding to which he is or is threatened to be made a party by reason of
such position. Under the DGCL we may pay all these expenses, provided that: (1) the person in question acted in good faith and in a manner
reasonably believed to be not opposed to our best interests; and (2) in the case of a criminal proceeding, the person had no reasonable
cause to believe the conduct in question was unlawful. We shall make no indemnification in connection with any proceeding brought on
our behalf where the person involved is adjudged to be liable to us, except as may be ordered by a court.
Article
FIVE of our Restated Certificate of Incorporation, as amended (the ‘‘Restated Certificate of Incorporation’’),
provides that none of our directors shall be personally liable for any monetary damages for any breach of fiduciary duty as a director,
except to the extent that the DGCL prohibits the elimination or limitation of liability of directors for breach of fiduciary duty.
Section
102 of the DGCL allows a corporation to eliminate the personal liability of directors of a corporation to the corporation or its stockholders
for monetary damages for a breach of fiduciary duty as a director, except where the director breached his or her duty of loyalty, failed
to act in good faith, engaged in intentional misconduct or knowingly violated a law, authorized the payment of a dividend or approved
a stock repurchase in violation of Delaware corporate law or obtained an improper personal benefit.
Article
SIX of our By-Laws, as amended and restated (‘‘By-Laws’’), provides that each of our directors and officers (a)
shall be indemnified by us against all expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement incurred
in connection with any litigation or other legal proceeding (other than an action by or in our right) brought against him by virtue of
his position as a director or officer of ours if he or she acted in good faith and in a manner he or she reasonably believed to be in,
or not opposed to, our best interests, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his
or her conduct was unlawful and (b) shall be indemnified by us against all expenses (including attorneys’ fees) and amounts paid
in settlement incurred in connection with any action by or in our right brought against him or her by virtue of his or her position as
a director or officer of ours if he or she acted in good faith and in a manner he or she reasonably believed to be in, or not opposed
to, our best interests, except that no indemnification shall be made with respect to any matter as to which such person shall have been
adjudged to be liable to us, unless a court determines that, despite such adjudication but in view of all of the circumstances, he or
she is entitled to indemnification of such expenses. Notwithstanding the foregoing, to the extent that a director or officer has been
successful, on the merits or otherwise, including, without limitation, the dismissal of an action without prejudice, he or she is required
to be indemnified by us against all expenses (including attorneys’ fees) incurred in connection therewith. Expenses may be advanced
to a director or officer, provided that he or she undertakes to repay the amount advanced if it is ultimately determined that he or she
is not entitled to indemnification for such expenses.
Article
SIX of our By-Laws further provides that the indemnification provided therein is not exclusive, and provides that in the event that the
DGCL is amended to expand the indemnification permitted to directors or officers we must indemnify those persons to the fullest extent
permitted by such law as so amended.
We
have purchased and maintain insurance to protect our directors and officers entitled to indemnification in accordance with our By-Laws
against liabilities asserted against or incurred by them in their capacity as such.
We
are party to indemnification agreements with our directors and executive officers that are intended to complement the indemnity and protection
available under our Restated Certificate of Incorporation and By-Laws, and the directors’ and officers’ liability insurance
policy we maintain. The indemnification agreements provide, in effect, that we shall indemnify the directors to the maximum extent permitted
by Delaware law, and include procedures for our reimbursement of expenses which may be incurred in connection with any action, suit,
proceeding, hearing, inquiry or investigation, where the individual’s involvement is by reason of the fact that he or she is our
director or a director of one of our subsidiaries. We also expect to enter into indemnification agreements with individuals who become
directors in the future.
The
underwriting agreement that we may enter into (Exhibit 1.1) will provide for indemnification by any underwriters of us, our directors,
our officers who sign the registration statement and our controlling persons for some liabilities, including liabilities arising under
the Securities Act.
ITEM 16. EXHIBITS
See
Exhibit Index attached hereto and incorporated herein by reference.
ITEM 17. UNDERTAKINGS
| (a) | The
undersigned registrant hereby undertakes: |
| (1) | To
file, during any period in which offers or sales are being made, a post-effective amendment
to this registration statement: |
| (i) | To
include any prospectus required by Section 10(a)(3) of the Securities Act; |
| (ii) | To
reflect in the prospectus any facts or events arising after the effective date of the registration
statement (or the most recent post-effective amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in the volume of securities
offered (if the total dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated maximum offering
range may be reflected in the form of prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in volume and price represent no more than a 20%
change in the maximum aggregate offering price set forth in the ‘‘Calculation
of Registration Fee’’ table in the effective registration statement; and |
| (iii) | To
include any material information with respect to the plan of distribution not previously
disclosed in the registration statement or any material change to such information in the
registration statement; |
provided, however, that
paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) of this section do not apply if the information required to be included in a post-effective
amendment by those paragraphs is contained in reports filed or furnished to the Commission by the registrant pursuant to Section 13 or
Section 15(d) of the Exchange Act that are incorporated by reference in the registration statement, or is contained in a form of prospectus
filed pursuant to Rule 424(b) that is part of the registration statement.
| (2) | That,
for the purpose of determining any liability under the Securities Act, each such post-effective
amendment shall be deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof. |
| (3) | To
remove from registration by means of a post-effective amendment any of the securities being
registered which remain unsold at the termination of this offering. |
| (4) | That,
for the purpose of determining liability under the Securities Act to any purchaser: |
| (i) | Each
prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part
of the registration statement as of the date the filed prospectus was deemed part of and
included in the registration statement; and |
| (ii) | Each
prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of
a registration statement in reliance on Rule 430B relating to an offering made pursuant to
Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by
section 10(a) of the Securities Act shall be deemed to be part of and included in the registration
statement as of the earlier of the date such form of prospectus is first used after effectiveness
or the date of the first contract of sale of securities in the offering described in the
prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person
that is at that date an underwriter, such date shall be deemed to be a new effective date
of the registration statement relating to the securities in the registration statement to
which that prospectus relates, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof. Provided, however, that no statement
made in a registration statement or prospectus that is part of the registration statement
or made in a document incorporated or deemed incorporated by reference into the registration
statement or prospectus that is part of the registration statement will, as to a purchaser
with a time of contract of sale prior to such effective date, supersede or modify any statement
that was made in the registration statement or prospectus that was part of the registration
statement or made in any such document immediately prior to such effective date. |
| (5) | That,
for the purpose of determining liability of the registrant under the Securities Act to any
purchaser in the initial distribution of the securities, the undersigned registrant undertakes
that in a primary offering of securities of the undersigned registrant pursuant to this registration
statement, regardless of the underwriting method used to sell the securities to the purchaser,
if the securities are offered or sold to such purchaser by means of any of the following
communications, the undersigned registrant will be a seller to the purchaser and will be
considered to offer or sell such securities to such purchaser: |
| (i) | Any
preliminary prospectus or prospectus of the undersigned registrant relating to the offering
required to be filed pursuant to Rule 424; |
| (ii) | Any
free writing prospectus relating to the offering prepared by or on behalf of the undersigned
registrant or used or referred to by the undersigned registrant; |
| (iii) | The
portion of any other free writing prospectus relating to the offering containing material
information about the undersigned registrant or its securities provided by or on behalf of
the undersigned registrant; and |
| (iv) | Any
other communication that is an offer in the offering made by the undersigned |
| (v) | registrant
to the purchaser. |
| (b) | The
undersigned registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act, each filing of the registrant’s annual report pursuant to
Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of
an employee benefit plan’s annual report pursuant to Section 15(d) of the Exchange
Act) that is incorporated by reference in the registration statement shall be deemed to be
a new registration statement relating to the securities offered therein, and the offering
of the securities at that time shall be deemed to be the initial bona fide offering thereof. |
| (c) | Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors,
officers and controlling persons of the registrant pursuant to the foregoing provisions,
or otherwise, the registrant has been advised that in the opinion of the Commission this
form of indemnification is against public policy as expressed in the Securities Act and is,
therefore, unenforceable. In the event that a claim for indemnification against these liabilities
(other than the payment by the registrant of expenses incurred or paid by a director, officer
or controlling person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by a director, officer or controlling person in connection with the
securities being registered, the registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as expressed in
the Securities Act and will be governed by the final adjudication of this issue. |
| (d) | The
undersigned registrant hereby undertakes to file an application for the purpose of determining
the eligibility of the trustee to act under subsection (a) of Section 310 of the Trust Indenture
Act in accordance with the rules and regulations prescribed by the Commission under Section
305(b)(2) of the Act. |
EXHIBIT
INDEX
Exhibit |
|
Description |
1.1* |
|
Form of Underwriting Agreement |
|
|
|
4.1 |
|
Restated
Certificate of Incorporation of the Company (incorporated by reference to Exhibit 4.1 to the Company’s Registration Statement
on Form S-8 (File No. 333-62416) filed on June 6, 2001) |
|
|
|
4.2 |
|
Certificate
of Amendment to the Restated Certificate of Incorporation of the Company, as filed with the Delaware Secretary of State on August
14, 2006 (incorporated by reference to Exhibit 3.2 to the Company’s Quarterly Report on Form 10-Q (File No. 001-12593) for
the quarterly period ended June 30, 2006 filed on August 14, 2006) |
|
|
|
4.3 |
|
Certificate of Amendment
to the Company’s Restated Certificate of Incorporation, filed June 10, 2016 and effective June 21, 2016 (incorporated by reference
to Exhibit 3.1 to the Company’s Current Report on Form 8-K (File No. 001-12593) filed on June 27, 2016) |
|
|
|
4.4 |
|
By-Laws of the Company,
as amended and restated on February 27, 2017 (incorporated by reference to Exhibit 3.4 to the Company’s Annual Report on Form
10-K (File No. 001-12593) for the year ended December 31, 2019 filed on March 1, 2017) |
|
|
|
4.5* |
|
Specimen Preferred Stock
Certificate and Form of Certificate of Designations of Preferred Stock |
|
|
|
4.6* |
|
Form of Common Stock Warrant
Agreement and Warrant Certificate |
|
|
|
4.7* |
|
Form of Preferred Stock
Warrant Agreement and Warrant Certificate |
|
|
|
4.8* |
|
Form of Depositary Share
Warrant Agreement and Warrant Certificate |
|
|
|
4.9* |
|
Form of Debt Securities
Warrant Agreement and Warrant Certificate |
|
|
|
4.10 |
|
Form of Senior Debt Indenture
(incorporated by reference to Exhibit 4.8 to the Company’s Registration Statement on Form S-3 (File No. 333-133103) initially
filed on April 7, 2006, subsequently amended and declared effective on June 2, 2006) |
|
|
|
4.11 |
|
Form of Subordinated Debt
Indenture (incorporated by reference to Exhibit 4.9 to the Company’s Registration Statement on Form S-3 (File No. 333-133103)
initially filed on April 7, 2006, subsequently amended and declared effective on June 2, 2006) |
|
|
|
4.12* |
|
Form of Deposit Agreement
and Depositary Receipt |
|
|
|
4.13* |
|
Form of Senior Note |
|
|
|
4.14* |
|
Form of Subordinated Note |
|
|
|
4.15* |
|
Form of Rights Agreement
and Rights Certificate |
|
|
|
4.16* |
|
Form of Unit Agreement |
|
|
|
5.1 |
|
Opinion of Morgan, Lewis
& Bockius LLP |
|
|
|
23.1 |
|
Consent of PricewaterhouseCoopers
LLP, Independent Registered Public Accounting Firm |
|
|
|
23.2 |
|
Consent of Morgan, Lewis
& Bockius LLP (included in Exhibit 5.1) |
|
|
|
23.3 |
|
Consent of Moss Adams
LLP, Independent Registered Public Accounting Firm |
|
|
|
24.1 |
|
Power of Attorney (included
on signature page) |
|
|
|
25.1* |
|
Statement of Eligibility
of Trustee under the Senior Debt Indenture to be filed separately pursuant to Section 305(b)(2) of the Trust Indenture Act of 1939 |
|
|
|
25.2* |
|
Statement of Eligibility
of Trustee under the Subordinated Debt Indenture to be filed separately pursuant to Section 305(b)(2) of the Trust Indenture Act
of 1939 |
|
|
|
107 |
|
Filing Fee Table |
| * | To
be filed by amendment or as an exhibit to a Current Report of the Company on Form 8-K
and incorporated herein by reference. |
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-3 and has duly caused this Registration Statement on Form S-3 to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Beverly, Commonwealth of Massachusetts, on August 9, 2022.
ATN
INTERNATIONAL, INC. |
|
|
|
By: |
/s/
MICHAEL T.
PRIOR |
|
|
Michael
T. Prior |
|
|
Chairman
and Chief Executive Officer |
|
POWER
OF ATTORNEY
Each
person whose signature appears below constitutes and appoints Michael T. Prior and Mary Mabey, and each of them individually, his or
her true and lawful attorney-in-fact and agent, each acting alone, with full power of substitution and resubstitution, for him or her
and in his or her name, place and stead, in any and all capacities, to sign any or all amendments (including post-effective amendments
and registration statements filed pursuant to Rule 462 under the Securities Act) to the Registration Statement on Form S-3, and to file
the same, with all exhibits thereto, and all documents in connection therewith, with the Securities and Exchange Commission, granting
unto said attorney-in-fact and agent, full power and authority to do and perform each and every act and thing requisite and necessary
to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying
and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done
by virtue hereof.
Pursuant
to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities
indicated below on August 9, 2022.
Signature |
|
Title |
|
|
|
/s/ MICHAEL T.
PRIOR |
|
Chairman and Chief Executive Officer (Principal Executive Officer) |
Michael T. Prior |
|
|
|
|
|
/s/ JUSTIN D.
BENINCASA |
|
Chief Financial Officer (Principal Financial and Accounting Officer) |
Justin D. Benincasa |
|
|
|
|
|
/s/ BERNARD J.
BULKIN |
|
Director |
Bernard J. Bulkin |
|
|
|
|
|
/s/ JAMES S.
EISENSTEIN |
|
Director |
James S. Eisenstein |
|
|
|
|
|
/s/ RICHARD
J. GANONG |
|
Director |
Richard J. Ganong |
|
|
|
|
|
/s/ April V. Henry |
|
Director |
April V. Henry |
|
|
|
|
|
/s/ Pamela F. Lenehan |
|
Director |
Pamela F. Lenehan |
|
|
|
|
|
/s/ Lianne J. Pelletier |
|
Director |
Lianne J. Pelletier |
|
|
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