CARY, N.C.-SpectraSite Inc. said it has filed a statement with the Securities and Exchange Commission to offer 250,000 shares of its common stock to adjust to a market price obligation.
This will fulfill a stock buyback agreement with Goldman, Sachs & Co., and the market price adjustment is about $9.4 million, said the tower operator.
“The actual number of shares of common stock to be sold in order to satisfy the market price adjustment obligation will depend on the net proceeds received at the time of the sale of the shares,” said the company, explaining that about 165,000 shares of its common stock of 250,000 shares will settle the obligation.
