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Consolidated Communications, Inc. Prices Initial Public Offering
MATTOON, Ill., July 22 /PRNewswire-FirstCall/ -- Consolidated Communications,
Inc. today announced the pricing of its initial public offering of 15.7 million
shares of its common stock at $13.00 per share. Of these 15.7 million shares,
the company will issue 6.0 million shares and some selling stockholders will
sell an additional 9.7 million shares in the offering. In addition, the
company and the selling stockholders have granted the underwriters a 30 day
option to purchase up to an additional 2.4 million shares to cover
over-allotments.
Consolidated Communications' common stock is expected to begin trading today on
the NASDAQ National Market under the ticker symbol "CNSL".
Credit Suisse First Boston and Citigroup are acting as the lead book- running
managers of the proposed offering. Banc of America Securities LLC, Deutsche
Bank Securities, Lehman Brothers and Wachovia Securities are also acting as
managers of the proposed offering.
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
jurisdiction or state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
such jurisdiction or state. The offering of the securities is made only by
means of a prospectus, copies of which may be obtained by contacting Credit
Suisse First Boston, One Madison Avenue, Prospectus Department, New York, New
York 10010-3629 (212-325-2580) or Citigroup Global Markets Inc., Brooklyn Army
Terminal, 140 58th Street, 8th Floor, Brooklyn, New York, 11220 (718-765-6732).
About Consolidated Communications
Consolidated Communications Holdings, Inc. is an established rural local
exchange company (RLEC) providing communications services to residential and
business customers in Illinois and Texas. Each of the operating companies has
been operating in their local markets for over 100 years. With approximately
253,000 local access lines and approximately 31,000 digital subscriber lines
(DSL), Consolidated Communications offers a wide range of telecommunications
services, including local dial tone, custom calling features, private line
services, long distance, dial-up and high-speed Internet access, carrier access
and billing and collection services. Consolidated Communications is the 15th
largest local telephone company in the United States.
Safe Harbor
This release may contain forward-looking statements within the meaning of the
federal securities laws. Such forward-looking statements reflect, among other
things, management's current expectations, plans and strategies, and
anticipated financial results, all of which are subject to known and unknown
risks, uncertainties and factors that may cause our actual results to differ
materially from those expressed or implied by these forward-looking statements.
Many of these risks are beyond our ability to control or predict. See "Risk
Factors" in the prospectus for this offering. Because of these risks,
uncertainties and assumptions, you should not place undue reliance on these
forward-looking statements. Furthermore, forward-looking statements speak only
as of the date they are made. Consolidated Communications, Inc. does not
undertake any obligation to update or review any such forward-looking
information, whether as a result of new information, future events or
otherwise.
DATASOURCE: Consolidated Communications, Inc.
CONTACT: Stephen Jones, Vice President, Investor Relations of
Consolidated Communications, Inc., +1-217-258-9522,
, or Investor Relations: Kirsten Chapman,
or David Barnard, both of Lippert-Heilshorn & Associates, ,
+1-415-433-3777
Web site: http://www.consolidated.com/