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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934.
Date of Report December 17, 1999
SBA COMMUNICATIONS CORPORATION
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(Exact name of registrant as specified in its charter)
Florida 333-50219 65-0716501
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(State or other jurisdiction of Commission File (I.R.S. Employer
incorporation or organization) Number Identification No.)
One Town Center Road, Boca Raton, Florida 33486
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(Address of principal executive offices) (Zip code)
(561) 995-7670
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(Registrant's telephone number, including area code)
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Item 2 Other Events
SBA Communications Corporation announced it had entered into an
agreement to provide site acquisition, development, collocation,
build-to-suit and equipment installation services for Georgia PCS
Management, LLC ("Georgia PCS"). Georgia PCS is a Sprint PCS Network
Member and manages Sprint markets throughout various areas of Georgia.
Under the Agreement, SBA shall have the right to build for SBA's
ownership any new tower required by Georgia PCS in its network
development. SBA will be responsible for site acquisition,
collocation, and installation services for Georgia PCS equipment under
the Agreement and will be paid a fee for such services. Georgia PCS
and SBA estimate that the Agreement will cover the location of as many
as 200 antenna sites by Georgia PCS through March 31, 2001, with the
number of such sites being on newly-built towers ranging from 50 to
100. Georgia PCS will be the anchor tenant on the towers built and
owned by SBA, at initial monthly rents of either $1,100 or $1,570,
depending on the services provided by SBA, with subsequent rent
escalators. The initial term of the leases will be ten years with
renewal options.
Item 7 Financial Statements and Exhibits
(c) Exhibits
99.1 Press release dated December 6, 1999
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
December 17, 1999 /s/ Jeffrey A. Stoops
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Jeffrey A. Stoops
Chief Financial Officer
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[LOGO OF SBA]
NEWS
For additional information:
Jeffrey A. Stoops
Chief Financial Officer
(561) 995-7670
FOR IMMEDIATE RELEASE
SBA COMMUNICATIONS CORPORATION TO PROVIDE EXCLUSIVE BUILD TO SUIT SERVICES
TO GEORGIA PCS MANAGEMENT, LLC; TOPS 1,000 TOWERS OWNED
BOCA RATON, FLORIDA; December 6, 1999: SBA Communications Corporation (NASDAQ:
SBAC) today announced that it had entered into an exclusive agreement (the
"Agreement") to provide site acquisition, development, collocation,
build-to-suit and equipment installation services for Georgia PCS Management,
LLC ("Georgia PCS"). Georgia PCS is a Sprint PCS Network Member and manages
Sprint markets throughout various areas of Georgia.
Under the Agreement, SBA shall have the right to build for SBA's ownership any
new tower required by Georgia PCS in its network development. SBA will be
responsible for site acquisition, collocation, and installation services for
Georgia PCS equipment under the Agreement and will be paid a fee for such
services. Georgia PCS and SBA estimate that the Agreement will cover the
location of as many as 200 antenna sites by Georgia PCS through March 31, 2001,
with the number of such sites being on newly-built towers ranging from 50 to
100. Georgia PCS will be the anchor tenant on the towers built and owned by SBA
at initial monthly rents of either $1,100 or $1,570, depending on the services
provided by SBA, with subsequent rent escalators. The initial term of the leases
will be 10 years with renewal options.
"We are very excited to team up with Georgia PCS and to be part of the growth of
their network," said Steve Bernstein, CEO and President of SBA. "The markets in
which they operate are very complimentary to our existing activities. Georgia
PCS has positioned themselves to be a leader in wireless communications in their
markets and we are pleased to be a part of their continued success."
Rob Brooks, Chief Operating Officer of Georgia PCS, stated, "We are very pleased
to partner with SBA, an industry leader in wireless network development. With
SBA becoming a party to our build out we are very confident in our ability to
continue to reach our markets efficiently and effectively."
SBA also announced that in the month of November it passed the 1,000 towers
owned mark through its new tower build and tower acquisition activities.
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SBA is a leading independent owner and operator of wireless communications
infrastructure in the United States. SBA's primary focus is the construction of
new towers and acquisition of existing towers for its own account. Since it was
founded in 1989, SBA has participated in the development of over 13,000 antenna
sites in the United States.
Information Concerning Forward-Looking Statements
Some information in this release is forward looking. These forward-looking
statements may be affected by the risks and uncertainties in the company's
business. This information is qualified in its entirety by cautionary statements
and risk factors disclosure contained in certain of the company's Securities and
Exchange Commission filings. The company wishes to caution readers that certain
important factors may have affected and could in the future affect the company's
actual results and could cause the company's actual results for subsequent
periods to differ materially from those expressed in any forward-looking
statement made by or on behalf of the company. With respect to pending new tower
build projects, a number of factors will affect the timing and number of new
build completions, including without limitation, zoning difficulty, carrier
design changes, changing local market conditions and weather. The company
undertakes no obligation to update forward-looking statements to reflect events
or circumstances after the date hereof.
