OKLAHOMA CITY, Oct. 2, 2003 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) today announced that it is deferring its decision on a public offering of Dobson Class A common stock due to current stock market conditions.
On September 18, 2003, the Company announced that it was considering a primary offering that would result in proceeds to Dobson of as much as $150 million, subject to market conditions and other considerations.
Dobson also offered to various holders of registered Class A shares, including former American Cellular Corporation note holders, the opportunity to include a portion of their shares in a proposed secondary public offering. The former American Cellular note holders who received this opportunity to participate have opted not to include their shares in a proposed secondary offering in light of current market conditions.
Dobson has been advised that AT&T Wireless has completed the sale of its entire holdings of approximately 4.5 million shares of Dobson's Class A common stock. As a result, AT&T Wireless has ceased to be party to the stockholder and investor rights agreement with Dobson.
This news release and the information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy any shares of common stock, or any other securities of Dobson Communications Corporation, nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Dobson Communications Corporation is a leading provider of wireless phone services to rural markets in the United States. Headquartered in Oklahoma City, the Company owns wireless operations in 16 states.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements regarding the Company's plans, intentions and expectations. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. A more extensive discussion of the risk factors that could impact these areas and the Company's overall business and financial performance can be found in the Company's reports filed with the Securities and Exchange Commission. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements.