American Tower Corporation Plans Class A Common Stock Offering.Business Editors BOSTON--(BUSINESS WIRE)--June 22, 2000 American Tower Corp. (NYSE NYSE See: New York Stock Exchange :AMT See vPro. ) announced today that is has agreed to sell 12,500,000 shares of Class A common stock through Lehman Brothers in an underwritten public offering for approximately $514.1 million, net of underwriting discounts. In addition, certain shareholders have sold 1,182,000 shares of Class A common stock under Rule 144, also through Lehman Brothers, for net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of approximately $48.6 million, net of underwriting discounts. The sales are scheduled to settle on June 27, 2000 and are subject to customary closing conditions. The offering of the shares will be made only by means of a prospectus, copies of which may be obtained from Lehman Brothers, Three World Financial Center, 200 Vesey Street, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York 10285. This press release contains "forward-looking statements" concerning future expectations, plans or strategies that involve a number of risks and uncertainties. American Tower Corporation Formed in 1995, American Tower Corporation is a publicly held company (NYSE: AMT) that is a leading owner and operator of wireless and broadcast communications sites in North America. Today American Tower owns and operates over 30,000 sites in the United States, Mexico and Brazil. , "the Company", wishes to caution readers that certain factors may have affected the Company's actual results and could cause results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. Such factors include, but are not limited to (i) substantial capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. and leverage principally as a consequence of its ongoing acquisitions and construction activities, (ii) dependence on demand for wireless communications, use of satellites for Internet data transmission, and implementation of digital television, (iii) the success of the Company's tower construction program and (iv) the successful operational integration of the Company's business acquisitions. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. |
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