Joint bookrunners Wells Fargo and Cowen sell 2,512,121 common shares
By Devika Patel
Knoxville, Tenn., Nov. 15 - Lumos Networks Corp. priced a $50.24 million secondary sale stock with a $7.54 million greenshoe, according to a prospectus supplement filed Friday with the Securities and Exchange Commission.
The selling shareholders will sell 2,512,121 common shares at $20.00 apiece. The price per share reflects a 2.63% discount to the Nov. 14 closing share price of $20.54.
Wells Fargo Securities and Cowen and Co. are the joint bookrunners.
Settlement is expected Nov. 20.
Waynesboro, Va.-based Lumos Networks provides fiber-based data, voice and IP-based telecommunication services for the Mid-Atlantic region.
Issuer: | Lumos Networks Corp.
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Issue: | Common stock
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Amount: | $50,242,420
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Greenshoe: | $7,536,360
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Shares: | 2,512,121
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Price: | $20.00
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Warrants: | No
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Bookrunners: | Wells Fargo Securities and Cowen and Co.
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Co-managers: | D.A. Davidson & Co., Canaccord Genuity and Drexel Hamilton
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Pricing date: | Nov. 15
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Settlement date: | Nov. 20
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Stock symbol: | Nasdaq: LMOS
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Stock price: | $20.54 at close Nov. 14
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Market capitalization: | $447.49 million
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