American Tower in $2.4 Billion Common Stock Offering

June 7, 2022

Cleary Gottlieb represented American Tower Corporation (American Tower) in an SEC-registered offering of 9.185 million shares of common stock for gross proceeds of $2.4 billion.

The offering was underwritten by a syndicate of investment banks led by JP Morgan Securities LLC, Citigroup Global Markets Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, and TD Securities (USA) LLC. The transaction priced on June 2, 2022, and closed on June 7, 2022 (including the underwriters’ exercise in full of their over-allotment option).

American Tower, one of the largest global REITs, is a leading independent owner, operator, and developer of multitenant communications real estate with a portfolio of over 220,000 communications sites and a highly interconnected footprint of U.S. data center facilities.