American Tower Corporation Announces Conversion Rate Adjustment for 5.50% Mandatory Convertible Preferred Stock, Series B
24 January 2018 - 8:30AM
Business Wire
American Tower Corporation (NYSE: AMT) announced an adjustment
to the conversion rates for its 5.50% Mandatory Convertible
Preferred Stock, Series B (the “Series B Preferred Stock”). The
adjustment to the conversion rates is being made pursuant to the
Certificate of Designations establishing the Series B Preferred
Stock (the “Certificate of Designations”) in connection with an
early conversion on January 18, 2018 and in recognition of
carried-forward adjustments relating to common stock cash dividends
paid on July 14, 2017, October 17, 2017 and January 16, 2018, which
adjustments were deferred and carried forward as permitted under
the Certificate of Designations. The new Fixed Conversion Rates and
Fundamental Change Conversion Rates (each as defined in the
Certificate of Designations) are as set forth below:
Minimum Conversion Rate: 8.7420Maximum Conversion Rate:
10.4905Fundamental Change Conversion Rates:
Share Price on Effective Date
Effective Date $49.14
$68.79
$88.45 $95.33
$108.10
$114.39
$127.76
$137.58
$147.41 March 3, 2015 9.4088 9.3580
9.0304 8.9123 8.7420 8.7420 8.7420 8.7420 8.7420
February 15,
2016 9.7842 9.7315 9.3357 9.1781 8.9247 8.8276 8.7420 8.7420
8.7420
February 15, 2017 10.1456 10.1483 9.7394 9.5199
9.1351 8.9864 8.7792 8.7420 8.7420
February 15, 2018 10.4905
10.4905 10.4905 10.4905 9.2506 8.7420 8.7420 8.7420 8.7420
About American Tower
American Tower, one of the largest global REITs, is a leading
independent owner, operator and developer of multitenant
communications real estate with a portfolio of approximately
149,000 communications sites. For more information about American
Tower, please visit www.americantower.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180123006332/en/
American Tower CorporationIgor Khislavsky, 617-375-7500Director,
Investor Relations
American Tower (NYSE:AMT)
Historical Stock Chart
From Apr 2024 to May 2024
American Tower (NYSE:AMT)
Historical Stock Chart
From May 2023 to May 2024