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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Mon., Mar. 2, 2:19 AM

Slide #21. American Tower Corporation Secondary Offering

Company: American Tower Corporation (NYSE:AMT)
Date announced: 2/24/2015
Shares Offered: 12,500,000
Date of Pricing: 2/26/2015
Price Per Share: $100
Secondary Offering Details: American Tower Corporation (NYSE:AMT) today announced that, in connection with the funding of its transaction with Verizon Communications, Inc., whereby American Tower will lease, acquire or otherwise operate and manage up to 11,489 Verizon wireless communications sites, American Tower intends to offer 23,500,000 shares of its common stock and 12,500,000 depositary shares, each representing a 1/10th interest in a share of American Tower's Mandatory Convertible Preferred Stock, Series B, in concurrent registered public offerings, subject to market and other conditions. These offerings are separate public offerings made by means of separate prospectus supplements and are not contingent on each other or upon consummation of the Verizon transaction.

American Tower is a holding company. Through its subsidiaries, Co. leases antenna space on multi-tenant communications sites. Co.'s rental and management operations include the operation of wireless and broadcast communications towers and managed networks, rooftop management, the leasing of property interests and the installation of shared generators. Co. also provides tower-related services, including site acquisition, zoning and permitting services and structural analysis services. As of Dec 31 2013, Co. owned and operated a portfolio of 67,418 communications sites in the U.S., Brazil, Chile, Colombia, Costa Rica, Germany, Ghana, India, Mexico, Panama, Peru, South Africa and Uganda.

Preferred: AMT.PRA

Open the AMT Page at The Online Investor »

Company Name:  American Tower Corp (New)
Sector:  REITs
Number of ETFs Holding AMT:  71
Total Market Value Held by ETFs:  $1.53B
Total Market Capitalization:  $38.82B
% of Market Cap. Held by ETFs:  3.94%

Open the AMT Page at The Online Investor (in a new window) »

March 2, 2015    2:19 AM Eastern
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Strong Buy (3.55 out of 4)
73rd percentile
(ranked higher than approx. 73% of all stocks covered)
Based on Zacks ABR data;
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