Crown Castle to exercise conversion on 6.25% convertible preferreds

By Tali David

Minneapolis, Jan. 25 - Crown Castle International Corp. will exercise its mandatory conversion right on all shares of its 6.25% cumulative convertible preferred stock, according to a press release.

The conversion date is Feb. 24.

On the conversion date, holders of preferred stock will be entitled to receive 1.3559 shares of Crown Castle common stock, par value $0.01 per share, for each share converted, the company said.

There are 6,111,000 shares of preferred stock outstanding.

Crown Castle is a Houston-based owner, operator and leaser of towers and other infrastructure for wireless communications.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.