$1 Billion for T-MobileComments Off on $1 Billion for T-Mobile
Monday night, T-Mobile registered to offer 20 million shares of mandatory convertible preferred shares at $50/share that could result in equity dilution up to 4.5%, according to Colby Synesael at Cowen and Company. The company is looking to raise $1 billion. Synesael wrote in a research note that the firm wasn’t thrilled by the raise but understood why the company made the decision. T-Mobile recently acquired bands of 700MHz spectrum and the net proceeds from the stock will go towards general corporate purposes, including capital investments, and spectrum acquisitions unrelated to the AWS-3 auction. Continue reading here.