Market Overview

GCI, Inc. Announces an Extension of Expiration Date for Exchange Offer

General Communication, Inc. (NASDAQ: GNCMA) today announced that its wholly owned subsidiary, GCI, Inc., is extending the expiration date of the offer to exchange an aggregate principal amount of up to $325,000,000 of GCI's new 6 3/4% Senior Notes Due 2021, which have been registered under the Securities Act of 1933, for a like amount of GCI's old 6 3/4% Senior Notes Due 2021 issued in a private offering on May 20, 2011. GCI has extended the offer in order to provide the holders of notes with sufficient time to review a supplement to the prospectus dated July 7, 2011 concerning the exchange offer. The supplement to the prospectus, which is being delivered today to holders of the notes, will include information about the resignation of James M. Schneider from the Audit Committee of the Board of Directors of General Communication, Inc. and the appointment of Scott M. Fisher to the Audit Committee to fill the vacancy created by the resignation of Mr. Schneider.

The offer, which was scheduled to expire at 12:00 midnight, New York City time, on Thursday, August 4, 2011, will now expire at 12:00 midnight New York City time, on Friday, August 12, 2011, unless further extended by GCI. All other terms, provisions and conditions of the exchange offer will remain in full force and effect. Holders of notes will continue to have the right to withdraw tenders of notes at any time prior to the expiration of the offer

Posted-In: News Financing Offerings

 

Most Popular

Related Articles (GNCMA)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters