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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Fri., Dec. 19, 2:55 AM

Slide #22. GTT Communications, Inc. Secondary Offering

Company: GTT Communications, Inc. (NYSE:GTT)
Date announced: 12/4/2014
Shares Offered: 3,500,000
Date of Pricing: 12/5/2014
Price Per Share: $12.75
Secondary Offering Details: GTT Communications, Inc. ("GTT" or the "Company") (NYSE:GTT) announced today that it plans to make a public offering of its common stock. - updated 12/5 - GTT Communications, Inc. ("GTT" or the "Company") (NYSE:GTT) announced today the pricing of a public offering of 3,500,000 shares of common stock at a purchase price of $12.75 per share. The net proceeds to GTT from this offering are expected to be approximately $41.6 million, after deducting underwriting discounts and other estimated offering expenses payable by GTT. GTT has also granted the underwriters a 30-day option to purchase up to 525,000 additional shares of common. The offering is expected to close on December 10, 2014, subject to customary closing conditions. GTT will use the net proceeds from this offering of common stock for working capital and general corporate purposes, including potential future acquisitions and other strategic purposes.

GTT Communications operates a Tier One Internet Protocol (IP) network with the interconnected Ethernet service platforms around the world. Co. provides cloud networking services. Co. has deployed network assets in North America, Europe and Asia to provide Dedicated Internet Access, IP Transit and Ethernet Transport services. Co.'s core network consists of a Layer Two switched Ethernet, routed 10 gigabyte mesh network as well as IP Transit or Dedicated Internet Access through about 200 Points of Presence. Co. has network connectivity in all main U.S. cities and European cities, established Ethernet hubs with various carriers and multiple peering connections to other Tier One IP providers.
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Company Name:  GTT Communications, Inc
Sector:  Application Software
Number of ETFs Holding GTT:  12
Total Market Value Held by ETFs:  $5.11M

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December 19, 2014    2:55 AM Eastern
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Strong Buy (4.00 out of 4)
92nd percentile
(ranked higher than approx. 92% of all stocks covered)
Based on Zacks ABR data;
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