On Wednesday, Shares of Sprint Corp (NYSE:S), remain flat and closed at $6.78 in the last trading session. The last trading range of the stock ranges between $6.76 and $7.01. The company’s Market capitalization is $27.18 Billion with the total Outstanding Shares of 3.98 Billion. During the 52-week trading session the minimum price at which share price traded, registered at $2.18 and reached to max level of $7.03. Sprint Corporation (NYSE:S) declared recently that three wholly owned special purpose auxiliaries (the “Issuers”) have begind an offer of up to $3.5 billion of wireless spectrum-backed notes in three series with varying maturities (the “Notes”) in a private transaction that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”).
The Issuers’ directly owned auxiliaries will acquire a portfolio of FCC licenses and a small number of third-party leased license agreements (the “Spectrum Portfolio”) from auxiliaries of Sprint, which comprise a portion of Sprint’s 2.5GHz and 1.9GHz spectrum holdings, representing about 14 percent of Sprint’s total spectrum holdings on a MHz-pops basis.
The Spectrum Portfolio is presently utilized by about 77 percent of all of Sprint’s 2.5GHz facilitated sites and about 33 percent of Sprint’s 1.9GHz facilitated sites. The Spectrum Portfolio will be leased back to Sprint Communications Inc. following a long-term lease agreement, the rental payments for which are sufficient to service the Notes. Based on an independent third-party valuation, the central value of the Spectrum Portfolio as of June 30, 2017, based on the various assumptions and limitations set forth in the valuation report, is about $16.4 billion.
Oasis Petroleum Inc. (NYSE:OAS), dropped -2.81% and closed at $11.41 in the last trading session. The last trading range of the stock ranges between $11.32and $11.69. The company’s Market capitalization is $2.07 Billion with the total Outstanding Shares of 180.43 million. During the 52-week trading session the minimum price at which share price traded, registered at $3.39 and reached to max level of $13.72. Oasis Petroleum Inc. (“Oasis” or “the Company”) (OAS) declared recently the exercise by the underwriters of the full over-allotment option of $25.0 million aggregate principal amount of its 2.625% senior unsecured convertible notes due 2023 (the “Notes”). The over-allotment option was granted to the underwriters by the Company in connection with the formerly consummated offering of $275 million aggregate principal amount of the Notes. Settlement of the sale of additional Notes is expected to occur on September 30, 2016, subject to customary closing conditions. Oasis intends to use the net proceeds from the sale of additional Notes for general corporate purposes, which may include redemptions or repurchases of its existing senior notes.