June 21, 2017
A l t i c e N.V. and Altice USA Announce Pricing of Altice USA's Initial Public Offering
Altice N.V. (ATC, ATCB, "Altice"), a global convergent leader in telecoms, content and advertising, and Altice USA, Inc. ("Altice USA"), Altice's U.S. subsidiary, announce today that Altice USA has priced its initial public offering of 63,943,029 shares of its Class A common stock at a price to the public of $30.00 per share. Of the shares of Altice USA's Class A common stock included in the offering, 12,068,966 shares will be sold by Altice USA, 31,475,965 shares will be sold by funds advised by BC Partners ("BC Partners") and 20,398,098 shares will be sold by entities affiliated with the Canada Pension Plan Investment Board ("CPPIB"). BC Partners and CPPIB have granted the underwriters a 30-day option to purchase up to 7,781,110 additional shares of Class A common stock. After completion of the offering, Altice will own 70.3% of Altice USA's issued and outstanding common stock, which will represent 98.3% of the voting power of Altice USA's outstanding common stock.
Altice USA's Class A common stock has been approved for listing on the New York Stock Exchange under the symbol "ATUS" and is expected to begin trading on June 22, 2017, with closing subject to the satisfaction or waiver of customary closing conditions.
Altice USA is one of the largest broadband communications and video services providers in the U.S., serving approximately 4.9 million residential and business customers across 21 states with Optimum and Suddenlink-branded services. Altice acquired Suddenlink Communications in 2015 and Cablevision/Optimum in 2016, forming Altice USA.
J.P. Morgan, Morgan Stanley, Citigroup and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering and representatives of the underwriters, together with BofA Merrill Lynch, Barclays, BNP Paribas, Credit Agricole CIB, Deutsche Bank Securities and RBC Capital Markets as additional joint book-running managers.
A registration statement on Form S-1 relating to these securities has been filed with and declared effective by the U.S. Securities and Exchange Commission (the "SEC"). The offering is being made only by means of a prospectus forming part of the effective registration statement. Copies of the prospectus relating to the securities being offered may be obtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, toll-free: (866) 803-9204, email: prospectus- eq_fi@jpmchase.com ; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via telephone at 1-800-831-9146; or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, facsimile at (212) 902- 9316, or email at prospectus-ny@ny.email.gs.com .
Additionally, when available, copies of these documents may be obtained for free by accessing the EDGAR database on the SEC's website at www.sec.gov .
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security, nor shall there be any sale of these shares in any state in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any state. This press release contains certain forward-looking statements, including statements with regard to Altice USA's initial public offering and the selling stockholders in the offering. Words such as "expected" or "will" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and no assurance can be given that the initial public offering discussed above will be completed on the terms described. Completion of the initial public offering and the terms thereof are subject to numerous factors, many of which are beyond Altice USA's control, including, without limitation, market conditions, failure of customary closing conditions and the risk factors and other matters set forth in Altice USA's filings with the SEC. Altice USA undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Contacts
Chief Investor Relations Officer Altice NV Nick Brown: +41 79 720 15 03 / nick.brown@altice.net Chief Communications Officer Altice NV Arthur Dreyfuss: +41 79 946 49 31 / arthur.dreyfuss@altice.net
Head of Communications Altice USA Lisa Anselmo: +1 516 803 2362 / lisa.anselmo@alticeusa.com
Regulated Information
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
About Altice N.V.
Founded in 2001 by entrepreneur Patrick Drahi, Altice is a convergent global leader in telecom, content, media, entertainment and advertising. Altice delivers innovative, customer-centric products and solutions that connect and unlock the limitless potential of its over 50 million customers over fiber networks and mobile broadband. The company enables millions of people to live out their passions by providing original content, highly-quality and compelling TV shows, and international, national and local news channels. Altice delivers live broadcast premium sports events and enables millions of customers to enjoy the most well-known media and entertainment. Altice innovates with technology in its Altice labs across the world. Altice links leading brands to audiences through premium advertising solutions. Altice is also a global provider of enterprise digital solutions to millions of business customers. Altice is present in 10 territories from New York to Paris, from Tel Aviv to Lisbon, from Santo Domingo to Geneva, from Amsterdam to Dallas. Altice (ATC & ATCB) is listed on Euronext Amsterdam.
About Altice USA
Altice USA, the U.S. business of Altice N.V. (Euronext: ATC, ATCB), is one of the largest broadband communications and video services providers in the United States, delivering broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content and advertising services to approximately 4.9 million residential and business customers across 21 states through its Optimum and Suddenlink brands.
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