Uniti Group Inc. Announces Launch of Convertible Notes Offering
07 December 2022 - 9:53AM
Dow Jones News
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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