Market Snapshot

S&P Futures
4,137.75
Dow Futures
33,806.00
NASDAQ Futures
13,842.75

Boston Omaha Corporation (BOMN) stock plunges in the current market. Let’s find out why?

Related Topics

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp

Boston Omaha Corporation (BOMN) stock declines by 9.74% in the current market trading after BOMN announced the pricing of a public offering of Class A common stock. The Boston Omaha Corporation is a public holding company with three majority-owned companies in outdoor advertising, surety insurance, and broadband telecommunications. In addition, the Company has minority stakes in a bank, a national homebuilder, and a commercial real estate services company.

What is happening?

Boston Omaha Corporation today reported the pricing of its previously announced underwritten public offering of its Class A common stock, par value $0.001 per share, for a total of 2,300,000 shares, of which 2,000,000 shares will be sold by Boston Omaha and 300,000 shares will be sold by a selling stockholder, at a price to the public of $25.00 per share. Before subtracting the underwriting discount and projected offering costs, the gross proceeds to Boston Omaha from the offering are forecast to be about $50 million. Depending on customary closing conditions, the offering is scheduled to close on April 6, 2021. Boston Omaha will not obtain any of the proceeds from the selling stockholder’s share sale.

Boston Omaha has also given the underwriters a 30-day offer to acquire up to 345,000 additional shares of its Class A common stock, with Boston Omaha selling all such shares and the selling stockholders selling none under the 30-day option. The offering is being led by Wells Fargo Securities as the sole book-runner.

And,

Boston Omaha expects to use the net proceeds from the offering to expand its newly purchased fiber-to-the-home broadband telecommunications business, expand its Connect billboard business through acquisitions of additional billboard businesses, and for other general corporate tasks.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sign up for our FREE Newsletter and get:
Sign up for our FREE Newsletter and get:

SOCIAL LINKS

Latest Posts