PHOENIX – Cable One, Inc. (NYSE: CABO) ("Cable One" or the "Company") today announced that it has commenced an underwritten public offering (the "Offering") of $400 million of shares of its common stock. In addition, Cable One intends to grant the underwriters an option for 30 days to purchase up to $60 million of additional shares of its common stock.
Cable One intends to use a portion of the net proceeds from the Offering to repay outstanding borrowings under its revolving credit facility and the remainder for general corporate purposes, which may include strategic acquisitions and investments.
J.P. Morgan Securities LLC, BofA Securities and Wells Fargo Securities, LLC are acting as joint book-running managers for the Offering.
Read the full announcement here.