American Tower Corporation Prices Offering of Class A Common Stock.Business Editors BOSTON--(BUSINESS WIRE)--Jan. 18, 2001 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. (NYSE NYSE See: New York Stock Exchange : AMT See vPro. ) today announced that it has priced the sale of 10.0 million shares of Class A common stock through Goldman, Sachs & Co. in an underwritten public offering. The 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). to the company of this offering are expected to be approximately $361 million. American Tower also granted Goldman Sachs an option to purchase an additional 1.5 million shares to cover over-allotments, if any. The closing of the offering is expected to occur on January 23, 2001 and is 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 Goldman, Sachs & Co. 85 Broad Street, New York, NY 10004. |
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