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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 July 26, 1999
SBA COMMUNICATIONS CORPORATION
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(Exact name of registrant as specified in its charter)
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<S> <C> <C>
Florida 333-50219 65-0716501
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(State or other jurisdiction of Commission File Number (I.R.S. Employer
incorporation or organization) 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 5 Other Events
SBA Communications Corporation ("SBAC") announced that the
managing underwriters of its initial public offering, which
was declared effective June 16, 1999, have exercised and
closed on their right to purchase an additional 1,300,000
shares of SBAC Class A common stock. The Company received all
of the net proceeds from the sale of the shares, which were
sold at the initial public offering price of $9.00 per share.
A copy of the press release issued by SBAC on July 19, 1999 is
attached hereto as Exhibit 99.1 and is incorporated herein by
reference.
Item 7 Financial Statements and Exhibits
(c) Exhibits
99.1 Press release dated July 19, 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.
July 26, 1999 /s/ Jeffrey A. Stoops
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Jeffrey A. Stoops
Chief Financial Officer
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Exhibit 99.1 For additional information:
Jeffrey A. Stoops
Chief Financial Officer
(561) 995-7670
FOR IMMEDIATE RELEASE
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SBA COMMUNICATIONS CORPORATION ANNOUNCES
EXERCISE OF OVER-ALLOTMENT OPTION
SBA COMMUNICATIONS CORPORATION; BOCA RATON, FL; MONDAY, JULY 19, 1999
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(NASDAQ: SBAC)
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SBA Communications Corporation ("SBAC") announced that the managing underwriters
of its initial public offering, which was declared effective June 16, 1999, have
exercised and closed on their right to purchase an additional 1,300,000 shares
of SBAC Class A Common Stock pursuant to the over-allotment option granted by
the company to the underwriters. The company received all of the net proceeds
from the sale of the shares, which were sold at the initial public offering
price of $9.00 per share. The managing underwriters for SBAC's initial public
offering were Lehman Brothers, Deutsche Banc Alex. Brown, Donaldson, Lufkin &
Jenrette and Salomon Smith Barney.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state or
jurisdiction. Such offer or sale may only be made through means of a written
prospectus.
SBAC is a leading independent owner and operator of wireless communications
infrastructure in the United States. SBAC generates revenue from two primary
businesses - site leasing and site development services. The primary focus of
the company is the leasing of antenna space on its multi-tenant towers to a
variety of wireless service providers under long-term lease contracts. Since it
was founded in 1989, SBAC has participated in the development of over 13,000
antenna sites in the United States and it currently owns over 770 towers.
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. The company undertakes no
obligation to update forward-looking statements to reflect events or
circumstances after the date hereof.
