US towerco SBA Communications has launched an underwritten public offering in connection with its US$1.45bn acquisition of TowerCo.
SBA is set to offer 4.6 million shares which, based on SBA’s closing price from Friday, equates to around…
US towerco SBA Communications has launched an underwritten public offering in connection with its US$1.45bn acquisition of TowerCo.
SBA is set to offer 4.6 million shares which, based on SBA’s closing price from Friday, equates to around US$290m.
Plans for the offering were first announced in late June in the context of the agreement to buy TowerCo, and the share issue is part of the consideration. The TowerCo transaction closed yesterday.
Morgan Stanley is acting as sole underwriter for the offer.
The specific date the shares will be put to the market was not disclosed, but according to the filing they will be offered this month.
SBA has a current market capitalisation of US$7.68bn.
