Uniti Files Prospectus Supplement Solely to Register Resale of Shares Issued in Windstream Settlement
Rhea-AI Summary
Uniti Group announced the filing of a prospectus supplement with the U.S. SEC to register the resale of approximately 18.2 million shares of its common stock, previously issued to certain creditors of Windstream as part of a settlement. This filing fulfills Uniti's obligations under disclosed stock purchase agreements. Importantly, Uniti will not issue or sell any shares through this prospectus supplement. As of June 30, 2020, Uniti owns 6.5 million fiber strand miles and operates in the communications infrastructure sector.
Positive
- Registration of 18.2 million shares could enhance liquidity for creditors.
- Uniti owns a significant amount of communications infrastructure, with 6.5 million fiber strand miles.
Negative
- None.
News Market Reaction – UNIT
On the day this news was published, UNIT declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
LITTLE ROCK, Ark., Oct. 09, 2020 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti”) (Nasdaq: UNIT) announced today that it has filed a prospectus supplement with the U.S. Securities and Exchange Commission to register the resale of approximately 18.2 million shares of its common stock (the “Shares”). The Shares were previously issued to certain creditors of Windstream in connection with the settlement between Uniti and Windstream. Uniti filed the prospectus supplement to satisfy its obligations under the previously disclosed stock purchase agreements relating to the issuance of the Shares, and the filing of the prospectus supplement is not necessarily indicative of any sales by the holders of the Shares. No shares will be issued or sold by Uniti pursuant to such prospectus supplement.
ABOUT UNITI
Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of June 30, 2020, Uniti owns 6.5 million fiber strand miles and other communications real estate throughout the United States. Additional information about Uniti can be found on its website at www.uniti.com.
INVESTOR AND MEDIA CONTACTS:
Mark A. Wallace, 501-850-0866
Executive Vice President, Chief Financial Officer & Treasurer
mark.wallace@uniti.com
Bill DiTullio, 501-850-0872
Vice President, Finance and Investor Relations
bill.ditullio@uniti.com
FAQ
What is the purpose of Uniti's recent prospectus filing?
Will Uniti issue new shares in this prospectus filing?
How many fiber strand miles does Uniti own?
Who are the shareholders of the 18.2 million shares mentioned in the prospectus?
