UNIT Uniti Group Inc

By Stephen Nakrosis

Shares of Uniti Group Inc. were trading lower after hours Tuesday following news the real estate investment trust plans to offer $300 million in convertible senior notes due 2027.

At 5:01 p.m. EST, the company's shares had fallen 10.5% to trade at $6.31. The stock finished the day's regular session with a 2.89% loss at $7.05 per share.

The stock touched a 52-week low of $6.35 per share on Oct. 13. Year to date, it is down by nearly 50%.

The company also said it plans to grant initial purchasers an option to buy up to an additional $45 million of the convertible notes during a 13-day period.

Uniti has a market cap of $1.72 billion, 237.2 million shares outstanding and a public float of 230.77 million shares.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

December 06, 2022 17:38 ET (22:38 GMT)

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