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Altice has announced that Altice USA has priced its initial public offering (IPO) of 63,943,029 shares of its Class A common stock at a price to the public of $30 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 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 per cent of Altice USA’s issued and outstanding common stock, which will represent 98.3 per cent of the voting power of Altice USA’s outstanding common stock.
Altice USA is one of the largest broadband communications and video services providers in the US, 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.