OKLAHOMA CITY, Aug. 23, 2005 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq: DCEL) today announced that it has completed its exchange offer and consent solicitation relating to its 12.25% Senior Exchangeable Preferred Stock and its 13% Senior Exchangeable Preferred Stock. The exchange offer and consent solicitation expired at 12:00 Midnight, New York City time, on Friday, August 19, 2005.
Dobson paid total cash consideration of $50.2 million and issued 28,249,729 shares of its Class A Common Stock in exchange for shares of preferred stock tendered in the exchange offer and consent solicitation.
Dobson also announced that the Securities and Exchange Commission has declared effective the resale shelf registration statement Dobson filed in connection with the exchange offer and consent solicitation to permit the resale of shares of Class A Common Stock issued to certain locked-up holders that tendered shares in the exchange offer and consent solicitation. The locked-up holders received 19,034,226 shares of Class A Common Stock in connection with the exchange offer, all of which may be resold from time to time pursuant to the shelf registration statement.
Dobson is a leading provider of wireless phone services to rural markets in the United States. Headquartered in Oklahoma City, Dobson owns wireless operations in 16 states. For additional information on Dobson and its operations, please visit its Web site at www.dobson.net.