Boston Omaha Corporation Announces Closing of Public Offering of Class A Common Stock, Including Full Exercise of Underwriters’ Option to Purchase Additional Shares
Boston Omaha Corporation (NASDAQ: BOMN) has completed a public offering of 2,645,000 shares of its Class A common stock at $25.00 per share, generating approximately $58.6 million in gross proceeds. The offering includes 2,345,000 shares sold by the Company and 300,000 shares by a selling stockholder, with proceeds from the latter not going to Boston Omaha. The shares were offered under an automatically effective shelf registration statement and managed by Wells Fargo Securities. The Company is a holding entity engaged in outdoor advertising, surety insurance, and broadband services.
- Total gross proceeds of approximately $58.6 million from the offering.
- Successful completion of a public offering increases capital for potential business growth.
- 300,000 shares sold by a selling stockholder may lead to shareholder dilution.
Boston Omaha Corporation (NASDAQ: BOMN) (“Boston Omaha” or the “Company”) today announced the closing of its previously announced underwritten public offering of its Class A common stock, par value
Wells Fargo Securities acted as the sole book-runner for the offering. Strategas Securities acted as co-manager for the offering.
The shares sold in this offering were sold pursuant to an automatically effective shelf registration statement that has been filed with the Securities and Exchange Commission (the “SEC”). The offering is being made only by means of a prospectus and prospectus supplement that form a part of the registration statement. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering can be obtained for free by visiting the SEC website at www.sec.gov or from Well Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York 10001, toll-free at (800) 326-5897 or email a request to cmclientsupport@wellsfargo.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities of Boston Omaha, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Boston Omaha Corporation
Boston Omaha Corporation is a public holding company with three majority owned businesses engaged in outdoor advertising, surety insurance and broadband telecommunications services. The Company also maintains minority investments in a bank, a national residential homebuilder and commercial real estate services businesses.
Forward-Looking Statements
Any statements in this press release about the Company’s future expectations, plans and prospects, including statements about our financing strategy, future operations, future financial position and results, market growth, total revenue, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. The Company may not actually achieve the plans, intentions or expectations disclosed in the Company’s forward-looking statements, and you should not place undue reliance on the Company’s forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements the Company make as a result of a variety of risks and uncertainties, including risks related to the Company’s estimates regarding the potential market opportunity for the Company’s current and future products and services, the Company’s expectations regarding the Company’s sales, expenses, gross margins and other results of operations, and the other risks and uncertainties described in the “Risk Factors” sections of the Company’s public filings with the SEC. Copies of our SEC filings are available on our website at www.bostonomaha.com. In addition, the forward-looking statements included in this press release represent the Company’s views as of the date hereof. The Company anticipates that subsequent events and developments may cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof.
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