Crown Castle Announces Pricing of Public Offering of Common Stock

HOUSTON, April 26, 2017 -- Crown Castle International Corp. (NYSE:CCI) (“Crown Castle”) announced today that it has priced its previously announced public offering of 4,750,000 shares of its common stock.

The gross proceeds from the offering are expected to be approximately $447 million. Crown Castle intends to use the net proceeds from this offering for general corporate purposes, which may include the funding of acquisitions, including the proposed acquisition of Wilcon Holdings LLC (“Wilcon Acquisition”), discretionary investments and the repayment or repurchase of outstanding indebtedness. This offering is not contingent upon the consummation of the Wilcon Acquisition.

Barclays, RBC Capital Markets, Citigroup and J.P. Morgan are acting as underwriters for the offering (“Underwriters”). The Underwriters may offer the shares of common stock from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale or at negotiated prices.  The last reported sale price of Crown Castle’s common stock on April 25, 2017 was $94.27 per share.

The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (“SEC”).  The offering will be made only by means of a prospectus supplement and the accompanying base prospectus, copies of which may be obtained by contacting the Underwriters using the information provided below.  An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is also available on the SEC’s website, www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other 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.

Cautionary Language Regarding Forward-Looking Statements

This press release contains forward-looking statements that are based on Crown Castle management’s current expectations.  Such statements include plans, projections and estimates regarding the proposed offering, including the net proceeds therefrom and the use of such proceeds.  Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including prevailing market conditions and other factors.  Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected.  More information about potential risk factors that could affect Crown Castle and its results is included in Crown Castle’s filings with the SEC.  The term “including,” and any variation thereof, means “including, without limitation.”

UNDERWRITER CONTACT INFORMATION