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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Thu., Apr. 27, 1:08 AM

Slide #18. Uniti Group Inc. Secondary Offering

Company: Uniti Group Inc. (NASDAQ:UNIT)
Date announced: 4/17/2017
Shares Offered: 16,981,133
Date of Pricing: 4/19/2017
Price Per Share: $26.50
Secondary Offering Details: Uniti Group Inc. ("Uniti" or the "Company") (Nasdaq:UNIT) announced today its proposed offering and sale, subject to market and other conditions, of the Company's common stock (the "Shares") in the amount of approximately $450.0 million. The underwriters have a 30-day option to purchase additional shares of common stock representing 15% of the number of Shares. The Company intends to use the net proceeds from this offering to fund a portion of the cash consideration payable in connection with the acquisitions of Southern Light, LLC and Hunt Telecommunications, LLC (collectively, the "Acquisitions"). Closing of the Acquisitions will occur after the closing of this offering and are subject to various closing conditions. If such Acquisitions are not completed, the Company will use the net proceeds for general corporate purposes, which may include, among other things, working capital and other acquisitions. -updated 4/19- Uniti Group Inc. ("Uniti" or the "Company") (Nasdaq:UNIT) announced today the pricing of its previously announced public offering of 16,981,133 shares of its common stock (the "Shares") at a public offering price of $26.50 per share. The offering is expected to close on April 25, 2017, subject to customary closing conditions. The Company intends to use the net proceeds from this offering to fund a portion of the cash consideration payable in connection with the acquisitions of Southern Light, LLC and Hunt Telecommunications, LLC (collectively, the "Acquisitions"). Closing of the Acquisitions will occur after the closing of this offering and are subject to various closing conditions. If such Acquisitions are not completed, the Company will use the net proceeds for general corporate purposes, which may include, among other things, working capital and other acquisitions. The underwriters have a 30-day option to purchase up to 2,547,169 additional shares of common stock of the Company.

Uniti Group is a real estate investment trust engaged in the acquisition and construction of infrastructure in the communications industry. Co. acquires and constructs fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers. As of Dec 31 2015, Co. owned 3.6 million fiber strand miles, 230,800 route miles of copper, and other property across 29 states. Co. leases the fiber and copper networks and other real estate to Windstream Holdings, Inc. under the long-term triple-net-lease agreement. Co. conducts the consumer competitive local exchange carrier business through its Talk America Services, LLC subsidiary.

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Company Name:  Uniti Group Inc
Website:  www.uniti.com
Sector:  REITs
Number of ETFs Holding UNIT:  49
Total Market Value Held by ETFs:  $304.80M
Total Market Capitalization:  $4.25B
% of Market Cap. Held by ETFs:  7.16%
 

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April 27, 2017    1:08 AM Eastern
Quotes delayed 20 minutes



Strong Buy (3.86 out of 4)
82nd percentile
(ranked higher than approx. 82% of all stocks covered)
Based on Zacks ABR data;
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