BOCA RATON, Fla., Jan. 2, 2013 (GLOBE NEWSWIRE) -- SBA Communications Corporation (Nasdaq:SBAC) ("SBA") today announced that SBA's 4.0% Convertible Senior Notes due 2014 (the "4.0% Notes") and SBA's 1.875% Convertible Senior Notes due 2013 (the "1.875% Notes") are convertible by holders of such notes. Pursuant to the terms of the Indentures that govern the 4.0% Notes and the 1.875% Notes, SBA has the right, from time to time, to elect to satisfy its conversion obligation under the 4.0% Notes and the 1.875% Notes in shares of SBA's Class A common stock, cash or a combination of SBA's Class A common stock and cash, and that election is effective until SBA provides notice of a different method of settlement. Upon issuance of both the 4.0% Notes and the 1.875% Notes, SBA elected to settle such notes in shares of SBA's Class A common stock and those elections are still in effect.
Conversion Right Triggered On SBA Communications' 4.0% Convertible Senior Notes (CUSIP# 78388JAM8) And 1.875% Convertible Senior Notes (CUSIP# 78388JAN6)
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts