Crown Castle (CCI) to Offer 11.35M Common Shares

November 1, 2016 4:27 PM EDT

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Crown Castle International Corp. (NYSE: CCI) announced today that it is commencing an offering of 11,350,000 shares of its common stock in a registered public offering, subject to market and other conditions. Crown Castle intends to use the net proceeds from this offering for general corporate purposes, which may include the funding of acquisitions, including the recently announced acquisition of FPL FiberNet Holdings, LLC and certain other subsidiaries of NextEra Energy, Inc. (“FiberNet Transaction”), discretionary investments and the repayment or repurchase of outstanding indebtedness. This offering is not contingent upon the consummation of the FiberNet Transaction.

J.P. Morgan, Citigroup and Morgan Stanley are acting as underwriters in connection with the offering.

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