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| SBAC > SEC Filings for SBAC > Form 8-K on 30-Dec-2003 | All Recent SEC Filings |
30-Dec-2003
Other Events
On December 24, 2003, SBA Communications Corporation ("SBA") issued a press release announcing the expiration of a tender offer and its related consent solicitation with respect to its 12% Senior Discount Notes due 2008 and its use of net proceeds from its recent issue of $275 million (gross proceeds) of 9.75% Senior Discount Notes due 2011.
Additionally, due to an issuance of Class A Common Stock by SBA on December 23, 2003, the shares of Class B Common Stock held by Steven E. Bernstein, SBA's Chairman, no longer constitute 10% of the outstanding shares of SBA's common stock (taking into consideration the outstanding shares of both Class A and Class B Common Stock). Accordingly, pursuant to the provisions of the Amended and Restated Articles of Incorporation, as amended of SBA, the 5,455,595 shares of Class B Common Stock held by Mr. Bernstein automatically converted into 5,455,595 shares of Class A Common Stock. As a result of the conversion, the Class A Common Stock now held by Mr. Bernstein no longer have the super-voting rights that the Class B Common Stock previously held by Mr. Bernstein had.
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