SAN DIEGO—Leap Wireless International Inc. said it completed a public offering of 6.4 million shares of common stock for $42 per share.
The sale included 840,000 shares of common stock sold as part of an over-allotment option granted to the underwriters.
Leap also said it entered forward sale agreements with affiliates of Goldman, Sachs & Co. and Citigroup Corporate and Investment Banking, both of which served as lead managers of the offering, to sell an equivalent number of shares of its common stock. Leap will not receive proceeds from that offering unless the forward sales are settled through issuance of common stock or settled in cash depending on the company’s share price at the time of settlement, said Leap.
Leap’s stock was trading up slightly mid-day Tuesday at $45.83 per share.
Leap is participating in the Federal Communications Commission’s AWS auction. As of the latest round of bidding, Leap’s Cricket Licensee (Reauction) Inc. had provisionally won 70 licenses at a total of $801.5 million.
