Altice Usa SEC Filings

ATUS notified of reported sales of Class A common stock by Michael E. Olsen under Rule 144. The excerpt lists three reported dispositions of 20,000 shares each on 03/02/2026, 04/01/2026, and 05/01/2026 with reported sale prices of $28,000.00, $25,800.00, and $31,800.00 respectively.

Optimum Communications outlined a complex capital and liability management plan built around a new unrestricted subsidiary, CSC Investments II LLC (Unsub Topco). Unsub Topco raised $300 million by issuing perpetual Series A preferred units with cash dividends at 13% or 15% if compounded, and redemption terms targeting a minimum multiple on invested capital of up to 2.5x in certain downside scenarios.

It also issued Preferred Units with an initial stated value of $200 million to Next Partner and $12.4 million to directors and executives in exchange for Optimum shares at $2.50 per share. Separately, Unsub Topco launched a tender offer to repurchase up to 120,000,000 Class A shares at $2.50 in cash, or $300 million, versus a prior closing price of $0.658. CSC Holdings, Optimum’s key operating subsidiary, has $21.8 billion of funded debt and faces $6.2 billion maturing in 2027, while the company estimates that a non‑consensual CSC restructuring could trigger a U.S. federal tax liability exceeding $4 billion. Management is seeking a consensual restructuring with a creditor group holding about 99% of CSC Holdings’ debt and presented a long‑range plan that targets gross margin of about 73% and Adjusted EBITDA margin of about 45% by 2031.

Optimum Communications, Inc. files an Amendment No. 1 to a Schedule 13G/A reporting beneficial ownership. The filing states that Empyrean Capital Partners, LP and Amos Meron beneficially own 24,578,407 shares of Class A Common Stock, representing 5.22% of the class. The filing attributes shared voting and dispositive power over the same 24,578,407 shares to the reporting persons and notes the position is held through Empyrean Capital Overseas Master Fund, Ltd.

The statement is signed by the Chief Compliance Officer and by Amos Meron and references a Joint Filing Agreement in Exhibit 99.1.

Optimum Communications, Inc. reports a Schedule 13G/A amendment disclosing that Millennium Management LLC, Millennium Group Management LLC and Israel A. Englander hold shared voting power and shared dispositive power of 9,523,665 shares of Class A Common Stock, representing 3.2% of the class as of 03/31/2026. The filing includes a Joint Filing Agreement dated May 13, 2026 among the three filers and clarifies that the disclosed positions are held by entities subject to the filers' voting control or investment discretion.

Optimum Communications, Inc. ownership disclosure: Deutsche Bank AG reports beneficial ownership of 14,927,405 shares of Class A Common Stock, representing 5.2% of the class as of 03/31/2026. The filing shows shared voting and shared dispositive power over those shares; signature dated 05/13/2026.

Optimum Communications, Inc. reported a sharp swing to loss for the quarter ended March 31, 2026, driven by a large non-cash impairment and heavy interest costs. Revenue declined to $2,065,368 from $2,152,282 a year earlier as broadband and video lines softened, partly offset by growth in mobile and advertising.

The company recorded a $2,700,000 impairment on indefinite-lived cable franchise rights, pushing operating income to a loss of $2,360,089 and net loss attributable to stockholders to $2,884,071, or $(6.10) per share, versus a $(0.16) loss per share in 2025. Adjusted EBITDA was relatively stable at $789,013 compared with $799,014 a year earlier.

Optimum ended the quarter with $1,048,634 of cash and cash equivalents and total debt of about $26.6 billion. Management disclosed substantial doubt about the company’s ability to continue as a going concern because principal amounts of $4,130,000 maturing in April 2027 and $2,125,000 maturing in July 2027 are not currently covered by committed financing or projected cash flows.

Optimum Communications reported a mixed first quarter of 2026, combining heavy one-time charges with modest operating progress. Total revenue was $2.07 billion, down 4.0% year over year, as residential revenue fell 6.5% and residential ARPU eased to $132.32.

The company posted a net loss attributable to stockholders of $2,884.1 million, or $6.10 per diluted share, driven largely by a $2.7 billion non‑cash impairment of indefinite‑lived cable franchise rights. Adjusted EBITDA was $789.0 million, down 1.3% year over year, but the Adjusted EBITDA margin improved to 38.2%, reflecting cost discipline and efficiency measures.

Free Cash Flow remained negative at a deficit of $137.4 million, though this improved from a $168.6 million deficit a year earlier. Broadband trends stayed challenging with total broadband net losses of 64 thousand, while mobile remained a bright spot, delivering 52 thousand net line additions and 35% growth in residential mobile service revenue to $50 million. As of March 31, 2026, consolidated net debt was $25,488 million, implying net leverage of 7.5x L2QA, with 476.3 million combined Class A and B shares outstanding.

Optimum Communications General Counsel Michael Olsen reported an open-market sale of 20,000 shares of Class A common stock at $1.59 per share. After this transaction, he directly holds 1,199,781 shares. The sale was carried out under a pre-arranged Rule 10b5-1 trading plan adopted on December 1, 2025.

The filing reports a Form 144 notice for Class A common shares associated with Michael Olsen. The filing lists three dispositions: 250,000 shares on 02/17/2026 for $400,080.79, 20,000 shares on 03/02/2026 for $28,000.00, and 20,000 shares on 04/01/2026 for $25,800.00. The record also lists restricted stock vesting events of 5,591 shares dated 12/29/2022 and 14,409 shares dated 12/29/2023.