Charter Announces Secondary Offering by Selling Stockholders
STAMFORD, Conn., March 7, 2013
STAMFORD, Conn., March 7, 2013 /PRNewswire/ -- Charter Communications, Inc.
(NASDAQ: CHTR) (alongwith its subsidiaries, the "Company" or "Charter") today
announced that selling stockholders, funds affiliated with Apollo have agreed
to sell approximately 6.2 million shares and funds affiliated with Oaktree
Opportunities Investments, L.P. have agreed to sell approximately 3.1 million
shares of Charter common stock in an underwritten offering. Charter will not
sell any shares in the offering and will not receive any proceeds from the
offering. Goldman, Sachs & Co. will act asunderwriter for the offering. The
underwriter may offer Charter common stock in transactions on the NASDAQ, in
the over-the-counter market, through negotiated transactions or otherwise at
market prices prevailing at the time of sale, at prices related to prevailing
market rates or at negotiated prices.
A shelf registration statement (including prospectus) relating to the shares
is effective with the Securities and Exchange Commission ("SEC"). Before you
invest, you should read the prospectus and other documents filed with the SEC
for more complete information about Charter and this offering. You may get
these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.
Alternatively, copies of the prospectus and prospectus supplement, when
available, may be obtained from Goldman, Sachs & Co., Attn: Prospectus
Department, 200 West Street, New York, NY 10282, telephone: 866-471-2526,
facsimile: 212-902-9316, e-mail: firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any securities nor will there be any sale of these
securities in any state or other 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 other jurisdiction. The
offering of these securities will be made only by means of the prospectus
supplement and the accompanying prospectus.
Charter (NASDAQ: CHTR) is a leading broadband communications company and the
fourth-largest cable operator in the United States. Charter provides a full
range of advanced broadband services, including advanced Charter TV® video
entertainment programming, Charter Internet® access, and Charter Phone®.
Charter Business® similarly provides scalable, tailored, and cost-effective
broadband communications solutions to business organizations, such as
business-to-business Internet access, data networking, business telephone,
video and music entertainment services, and wireless backhaul. Charter's
advertising sales and production services are sold under the Charter Media®
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended (the "Securities Act"), and
Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), regarding, among other things, our plans, strategies and prospects,
both business and financial. Although we believe that our plans, intentions
and expectations reflected in or suggested by these forward-looking statements
are reasonable, we cannot assure you that we will achieve or realize these
plans, intentions or expectations. Forward-looking statements are inherently
subject to risks, uncertainties and assumptions including, without limitation,
the factors described under "Risk Factors" from time to time in our filings
with the Securities and Exchange Commission ("SEC"). Many of the
forward-looking statements contained in this release may be identified by the
use of forward-looking words such as "believe," "expect," "anticipate,"
"should," "planned," "will," "may," "intend," "estimated," "aim," "on track,"
"target," "opportunity," "tentative," "positioning," "designed," "create" and
"potential," among others. Important factors that could cause actual results
to differ materially from the forward-looking statements we make in this
release are set forth in other reports or documents that we file from time to
time with the SEC, and include, but are not limited to:
oour ability to sustain and grow revenues and cash flow from operations by
offering video, Internet, telephone, advertising and other services to
residential and commercial customers, to adequately meet the customer
experience demands in our markets and to maintain and grow our customer
base, particularly in the face of increasingly aggressive competition, the
need for innovation and the related capital expenditures and the difficult
economic conditions in the United States;
othe impact of competition from other market participants, including but
not limited to incumbent telephone companies, direct broadcast satellite
operators, wireless broadband and telephone providers, digital subscriber
line ("DSL") providers, and video provided over the Internet;
ogeneral business conditions, economic uncertainty or downturn, high
unemployment levels and the level of activity in the housing sector;
oour ability to obtain programming at reasonable prices or to raise prices
to offset, in whole or in part, the effects of higher programming costs
(including retransmission consents);
othe development and deployment of new products and technologies;
othe effects of governmental regulation on our business;
othe availability and access, in general, of funds to meet our debt
obligations prior to or when they become due and to fund our operations
and necessary capital expenditures, either through (i) cash on hand, (ii)
free cash flow, or (iii) access to the capital or credit markets; and
oour ability to comply with all covenants in our indentures and credit
facilities any violation of which, if not cured in a timely manner, could
trigger a default of our other obligations under cross-default provisions.
All forward-looking statements attributable to us or any person acting on our
behalf are expressly qualified in their entirety by this cautionary statement.
We are under no duty or obligation to update any of the forward-looking
statements after the date of this release.
SOURCE Charter Communications, Inc.
Contact: media, Anita Lamont, +1-314-543-2215, or analysts, Robin Gutzler,
+1-314-543-2389, or Stefan Anninger, +1-203-905-7955
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