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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 19, 1998
Crown Castle International Corp.
(Exact Name of Registrant as Specified in its Charter)
Delaware 333-43873 76-0470458
(State or Other (Commission File (IRS Employer
Jurisdiction of Number) Identification
Incorporation) Number)
510 Bering Drive
Suite 500
Houston, TX 77057
(Address of Principal Executive Office)
Registrant's telephone number, including area code: (713) 570-3000
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Item 5. Other Events
Crown Castle International Corp. ("CCIC") announced that it
filed a registration statement with the Securities and Exchange
Commission for the initial public offering of its common stock, par
value $.01 per share.
A copy of the press release issued by CCIC on June 22, 1998
with respect to the initial public offering is attached hereto as
Exhibit 99.1 and is incorporated herein by reference.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
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99.1 Press Release dated June 22, 1998
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
Crown Castle International Corp.,
By: /s/ Wesley D. Cunningham
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Vice President, Corporate Controller
and Chief Accounting Officer
June 22, 1998
EXHIBIT INDEX
Exhibit No. Description of Exhibit
99.1 Press Release dated June 22, 1998
Exhibit 99.1
FOR IMMEDIATE RELEASE CONTACT: Charles C. Green, III
Crown Castle International
(713) 570-3000
CROWN CASTLE INTERNATIONAL CORP. ANNOUNCES
INITIAL PUBLIC OFFERING OF COMMON STOCK
HOUSTON, Texas -- June 22, 1998 -- Crown Castle
International Corp. ("CCIC") announced today that on June 19, 1998 it
filed with the Securities and Exchange Commission a registration
statement for the initial public offering of its Common Stock, par
value $.01 per share. CCIC is planning to offer $300 million of Common
Stock in the offering. The offering will include shares of Common
Stock to be sold by Mr. Bob Crown, the chief executive officer of
CCIC's domestic operating subsidiary, Crown Communication Inc.
Following the offering, CCIC expects that Mr. Crown will remain CCIC's
largest individual stockholder. The shares will be offered by
underwriters led by Lehman Brothers, Credit Suisse First Boston,
Goldman, Sachs & Co. and Salomon Smith Barney.
In connection with the initial public offering, CCIC will
consummate a share exchange with certain shareholders of Castle
Transmission Services (Holdings) Ltd pursuant to which certain of
Castle Transmission's shareholders will exchange their shares of
Castle Transmission for shares of CCIC Common Stock. Upon consummation
of the exchange, CCIC's ownership of Castle Transmission will increase
from 34.3% to approximately 80%. Consummation of the share exchange is
subject to a number of significant conditions, including certain third
party consents and consummation of the initial public offering.
The net proceeds to CCIC of the offering are expected to be used
for the redemption of 50% of the outstanding shares of CCIC's Senior
Convertible Preferred Stock, working capital and general corporate
purposes including acquisitions and capital expenditures associated
with the buildout of new infrastructure in the United Kingdom to
support digital terrestrial television and the construction of new
towers in both the United States and the United Kingdom.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission but has not yet
become effective. These securities may not be sold nor may offers to
buy be accepted prior to the time the registration statement becomes
effective. This announcement 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 State in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such State.
Contact: Crown Castle International, 510 Bering Drive, Suite 500,
Houston, Texas 77057. Telephone: (713) 570-3000; Fax: (713) 570-3100.
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