WALL, N.J.-Centennial Communications Corp. said it is withdrawing its previously announced public offering of common stock due to the offer’s inability to garner the company’s “valuation requirements.”
Centennial had originally hoped the offering, which was to include 30 million shares of common stock, would help the company repay its unsecured subordinated notes due 2009.
“I believe our approximately $300 million of available liquidity and record first-quarter results provide us with a solid financial foundation for profitable growth during fiscal 2004 and beyond,” said Michael Small, chief executive officer of Centennial, in a statement.
