American Tower Corporation Announces Conversion Rate Adjustment for 5.50% Mandatory Convertible Preferred Stock, Series B

American Tower Corporation (NYSE: AMT) announced an adjustment to the conversion rates for its 5.50% Mandatory Convertible Preferred Stock, Series B (the “Series B Preferred Stock”). The adjustment to the conversion rates is being made pursuant to the Certificate of Designations establishing the Series B Preferred Stock (the “Certificate of Designations”) in light of American Tower’s previously announced first quarter 2017 common stock cash dividend of $0.62 per common share and in recognition of carried-forward adjustments relating to common stock cash dividends paid on April 28, 2015, July 16, 2015, October 7, 2015, January 13, 2016, April 28, 2016, July 15, 2016, October 17, 2016 and January 13, 2017, which adjustments were deferred and carried forward as permitted under the Certificate of Designations. The new Fixed Conversion Rates and Fundamental Change Conversion Rates (each as defined in the Certificate of Designations) are as set forth below:

    
      
        
          Minimum Conversion Rate:
        
        
           
        
        
           
        
        
           
        
        
          8
        
        
          .6870
        
      
      
        
          Maximum Conversion Rate:
        
        
        
        
        
        
        
        
          10
        
        
          .4244
        
      
    
    
      
        
          

Fundamental Change Conversion Rates:

 

Share Price on Effective Date

Effective Date

$49.45

$69.23

$89.01

$95.93

$108.79

$115.12

$128.56

$138.45

$148.34

March 3, 2015

        
        
        
        
        
        
        
        
          9
        
        
          .3496
        
        
        
        
        
        
        
        
          9
        
        
          .2991
        
        
        
        
        
        
        
        
          8
        
        
          .9735
        
        
        
        
        
        
        
        
          8
        
        
          .8562
        
        
        
        
        
        
        
        
          8
        
        
          .6870
        
        
        
        
        
        
        
        
          8
        
        
          .6870
        
        
        
        
        
        
        
        
          8
        
        
          .6870
        
        
        
        
        
        
        
        
          8
        
        
          .6870
        
        
        
        
        
        
        
        
          8
        
        
          .6870
        
      
      
        
          

February 15, 2016

        
        
        
        
        
        
        
        
          9
        
        
          .7226
        
        
        
        
        
        
        
        
          9
        
        
          .6702
        
        
        
        
        
        
        
        
          9
        
        
          .2769
        
        
        
        
        
        
        
        
          9
        
        
          .1203
        
        
        
        
        
        
        
        
          8
        
        
          .8685
        
        
        
        
        
        
        
        
          8
        
        
          .7720
        
        
        
        
        
        
        
        
          8
        
        
          .6870
        
        
        
        
        
        
        
        
          8
        
        
          .6870
        
        
        
        
        
        
        
        
          8
        
        
          .6870
        
      
      
        
          

February 15, 2017

        
        
        
        
        
        
        
        
          10
        
        
          .0817
        
        
        
        
        
        
        
        
          10
        
        
          .0844
        
        
        
        
        
        
        
        
          9
        
        
          .6781
        
        
        
        
        
        
        
        
          9
        
        
          .4600
        
        
        
        
        
        
        
        
          9
        
        
          .0776
        
        
        
        
        
        
        
        
          8
        
        
          .9298
        
        
        
        
        
        
        
        
          8
        
        
          .7239
        
        
        
        
        
        
        
        
          8
        
        
          .6870
        
        
        
        
        
        
        
        
          8
        
        
          .6870
        
      
      
        
          

February 15, 2018

        
        
        
        
        
        
        
        
          10
        
        
          .4244
        
        
        
        
        
        
        
        
          10
        
        
          .4244
        
        
        
        
        
        
        
        
          10
        
        
          .4244
        
        
        
        
        
        
        
        
          10
        
        
          .4244
        
        
        
        
        
        
        
        
          9
        
        
          .1924
        
        
        
        
        
        
        
        
          8
        
        
          .6870
        
        
        
        
        
        
        
        
          8
        
        
          .6870
        
        
        
        
        
        
        
        
          8
        
        
          .6870
        
        
        
        
        
        
        
        
          8
        
        
          .6870
        
      
    
    

About American Tower

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 147,000 communications sites. For more information about American Tower, please visit www.americantower.com.

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American Tower CorporationLeah Stearns, 617-375-7500Senior Vice President, Treasurer and Investor Relations