Knology Inc. said the record date for its previously announced rights offering will be Sept. 16.
On that date, the operator will distribute nontransferable rights to subscribe for and purchase up to 1,271,839 shares of its series-AA convertible preferred stock to common stockholders of record as of the record date. Of the shares offered, 1.08 million are being offered by Knology and 191,839 by selling stockholders.
Knology said the shares offered by the selling stockholders will only be sold if all of the shares offered by the company have been subscribed for and sold.
Stockholders will be able to exercise their rights to purchase shares in the offering until 5 p.m. (EST) Oct. 21.