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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 February 4, 2000
SBA COMMUNICATIONS CORPORATION
(Exact name of registrant as specified in its charter)
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<S> <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 2 Other Events
SBA Communications Corporation announced that the underwriters
of its recent offering of 9,000,000 shares of Class A Common
Stock have exercised their over-allotment option to purchase
1,350,000 shares of SBA's Class A common stock from certain
stockholders. The Company will not receive the proceeds from
any sale of shares by the selling shareholders.
The offering was underwritten by Lehman Brothers, Deutsche
Banc Alex. Brown, Salomon Smith Barney Inc., Raymond James
& Associates, Inc. and Fidelity Capital Markets, a
division of National Financial Services Corporation.
Copies of a prospectus for the offering may be obtained from
the Prospectus Department of Lehman Brothers.
Item 7 Financial Statements and Exhibits
(c) Exhibits
99.1 Press release dated February 3, 2000
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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.
February 4, 2000 /s/ Jeffrey A. Stoops
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Jeffrey A. Stoops
Chief Financial Officer
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[SBA LOGO]
NEWS
For additional information:
Jeffrey A. Stoops
Chief Financial Officer
(561) 995-7670
FOR IMMEDIATE RELEASE
SBA ANNOUNCES EXERCISE OF UNDERWRITERS' OVER-ALLOTMENT OPTION FOR
1,350,000 SHARES OF CLASS A COMMON STOCK
BOCA RATON, FLORIDA, February 3, 2000 (NASDAQ: SBAC) - SBA Communications
Corporation announced that the underwriters of its recent offering of 9,000,000
shares of Class A Common Stock have exercised their over-allotment option to
purchase 1,350,000 shares of SBA's Class A common stock from certain
stockholders. The Company will not receive the proceeds from any sale of shares
by the selling shareholders.
The offering was underwritten by Lehman Brothers, Deutsche Banc Alex. Brown,
Salomon Smith Barney Inc., Raymond James & Associates, Inc. and Fidelity Capital
Markets, a division of National Financial Services Corporation. Copies of a
prospectus for the offering may be obtained from the Prospectus Department of
Lehman Brothers.
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. 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. Such factors include, but are not limited to, (1) our
ability to secure as many site leasing tenants as planned; (2) our ability to
expand our site leasing business and our site
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development business; (3) our ability to complete construction of new towers on
a timely and cost-efficient basis, including our ability to successfully address
zoning issues, carrier design changes, changing local market conditions and the
impact of adverse weather conditions; (4) our ability to identify and acquire
new towers, including our capability to timely complete due diligence and obtain
third party consents; (5) our ability to retain current lessees on newly
acquired towers; (6) our ability to realize economies of scale for newly
acquired towers; (7) the continued dependence on towers by the wireless
communications industry; (8) our ability to compete effectively for new tower
opportunities in light of increasing competition; and (9) our ability to raise
substantial additional financing to expand our tower holdings. The Company
undertakes no obligation to update forward-looking statements to reflect events
or circumstances after the date hereof. Information concerning the factors that
could cause actual results to differ materially from those expectations and
estimates are contained in the Risk Factors section of the Company's
Registration Statement on Form S-3, filed with the SEC in connection with this
offering, and the Company's other securities filings.
For further information, please contact Jeffrey A. Stoops, Chief Financial
Officer, at 561-995-7670.
