- Broadband communication provider Cable One Inc (NYSE: CABO) plans to raise close to $600 million from the sale of $400 million convertible senior notes due 2026 and $200 million convertible senior notes due 2028 in a private offering.
- The initial purchasers have the choice to procure up to an additional $60 million and $30 million 2026 Notes and 2028 Notes, respectively, within 13 days.
- The company intends to utilize the offering proceeds for general corporate purposes, including a part payment of the Hargray Acquisition Holdings, LLC acquisition. The transaction is roughly valued at $1.87 billion for 85% of the equity interests of Hargray.
- CABO stock has gained just over 22% in the last year.
- Price action: CABO shares are down 4.02% at $1,847.12 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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