Communications Sales & Leasing, Inc. Formed Through Spinoff
"We are excited today to launch our new company,
Under the terms of the previously announced deal, Windstream today distributed approximately 80.1 percent of CS&L shares to Windstream shareholders of record as of
Windstream shareholders retained their Windstream shares and received one share of CS&L for every five shares of Windstream held. The spinoff is expected to be a tax-free distribution to Windstream shareholders and requires no action on their part. The two companies expect CS&L shares to be deposited into shareholders' accounts by
In connection with the spinoff, CS&L completed its previously announced issuances of
Real estate investment trusts are used for real property assets that produce rental income. In 2014, Windstream obtained a private letter ruling from the
"We expect to diversify our tenant base by acquiring additional assets and leasing them to other local, regional and national telecommunications providers," Gunderman said. "This a great day for
CS&L (Nasdaq:CSAL), an
Forward Looking Statements
Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief or expectations, including, but not limited to, statements regarding: tax treatment of the spinoff, growth prospects and expectations regarding the payment of dividends.
Words such as "anticipate(s)," "expect(s)," "intend(s)," "plan(s)," "believe(s)," "may," "will," "would," "could," "should," "seek(s)" and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. Although we believe that the assumptions underlying the forward-looking statements are reasonable, we can give no assurance that our expectations will be attained. Factors which could have a material adverse effect on our operations and future prospects or which could cause actual results to differ materially from our expectations include, but are not limited to: the ability to achieve some or all the benefits that we expect to achieve from the spinoff; the ability and willingness of Windstream to meet and/or perform its obligations under any contractual arrangements that are entered into with us in connection with the spinoff; the availability of and the ability to identify suitable acquisition opportunities and the ability to acquire and lease the respective properties on favorable terms; the ability to generate sufficient cash flows to service our outstanding indebtedness; access to debt and equity capital markets; fluctuating interest rates; the ability to retain our key management personnel; the ability to qualify or maintain our status as a REIT; changes in the U.S. tax law and other state, federal or local laws, whether or not specific to REITs; covenants in our debt agreements that may limit our operational flexibility; risks inherent in the communications industry; other risks inherent in the ownership of communication distribution systems, including potential liability relating to environmental matters and illiquidity of real estate investments; and additional factors discussed in the Risk Factors section of our Information Statement filed on Form 8-K with the
CS&L expressly disclaims any obligation to release publicly any updates or revisions to any of the forward looking statements set forth in this press release to reflect any change in its expectations or any change in events, conditions or circumstances on which any statement is based.
CS&L, Inc.Contact: Rob Clancy, 501-850-0855 email@example.com