Centennial Communications Files Universal Shelf Registration Statement.Business & Telecommunication Editors NEPTUNE Neptune, in Roman religion and mythology Neptune, in Roman religion and mythology, god of water. He was presumably an indigenous god of fertility, but in later times he was identified with the Greek Poseidon, god of the sea. , N.J.--(BUSINESS WIRE)--June 9, 2000 (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CYCL) Centennial Communications Corp. announced today that is has filed a shelf registration statement with the Securities and Exchange Commission registering an aggregate of $750 million of securities, which may include debt securities, common stock, preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. and warrants. The shelf registration statement also registers 20 million shares of Centennial common stock out of approximately 87 million shares owned by the controlling stockholders of Centennial (Welsh, Carson, Anderson & Stowe and an affiliate of The Blackstone Group) and certain other Centennial stockholders. "The filing of the shelf registration statement will provide greater financing flexibility to capitalize on favorable market conditions as needs may arise," said Michael J. Small, president and chief executive officer of Centennial. Centennial is one of the largest independent wireless telecommunications service providers in the United States and the Caribbean with approximately 18.7 million Net Pops and over 585,500 wireless subscribers. Centennial's domestic operations have approximately 6.1 million Net Pops and over 416,500 wireless subscribers. Centennial de Puerto Rico is a fully integrated provider of communications services in Puerto Rico, utilizing a PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. license that covers 3.8 million Pops in Puerto Rico and the U.S. Virgin Islands and a Competitive Local Exchange Carrier license to operate in Puerto Rico. Centennial de Puerto Rico has approximately 169,000 wireless subscribers. In addition, the Company owns 70% of a PCS license in the Dominican Republic representing approximately 6.2 million Net Pops, 51% of a 800 MHz (MegaHertZ) One million cycles per second. It is used to measure the transmission speed of electronic devices, including channels, buses and the computer's internal clock. A one-megahertz clock (1 MHz) means some number of bits (16, 32, 64, etc. CDMA (Code Division Multiple Access) A method for transmitting simultaneous signals over a shared portion of the spectrum. The foremost application of CDMA is the digital cellular phone technology from QUALCOMM that operates in the 800 MHz band and 1.9 GHz PCS band. license in Jamaica representing approximately 1.3 million Net Pops and holds minority shares representing approximately 1.2 million Net Pops in U.S. cellular operations controlled and managed by other operators. Welsh, Carson, Anderson & Stowe (WCAS WCAS Weinberg College of Arts and Sciences WCAS Warfighter Communication Assessment System (US DoD) ) and an affiliate of The Blackstone Group are controlling shareholders of Centennial. WCAS is a private investment firm based in 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 and founded in 1979. WCAS currently manages over $8 billion in private equity capital and focuses primarily on the telecommunications, information services See Information Systems. and healthcare industries. The Blackstone Group is a New York based private investment bank whose current corporate investment vehicle, Blackstone Capital Partners III Merchant Banking Fund, LP, has approximately $3.8 billion in committed capital. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective, nor may sales be effected in the absence of a definitive prospectus and a prospectus supplement setting forth the terms and conditions of any specific securities offered. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to any registration or qualification under the securities laws of any state. |
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