OKLAHOMA CITY-Regional wireless provider Dobson Communications Corp. said it completed an exchange offer and consent solicitation of its 12.25-percent senior exchangeable preferred stock and its 13-percent senior exchangeable preferred stock.
Dobson said it paid $50.2 million in total cash consideration and issued nearly 28.25 million shares of its class A common stock in exchange for shares of preferred stock tendered in the offer.
Dobson also announced that the Securities and Exchange Commission declared effective the resale shelf registration statement the carrier filed in connection with the exchange offer that permitted the resale of class A common shares issued to certain locked-up holders that participated in the exchange offer. Those locked-up holders received more than 19 million class A common shares that may be resold from pursuant to the shelf registration statement.
Dobson’s stock was trading up 9 cents per share early Wednesday at $7.91 per share.
