Time Warner Telecom Launches Stock Offering


Time Warner Telecom’s principal stockholders commenced an underwritten public offering of 27.5 million shares of its class-A common stock, along with an option to purchase up to an additional 4.125 million shares to cover any overallotments.

All of the shares being offered are currently owned by subsidiaries of Time Warner and by Advance Telecom Holdings and Newhouse Telecom Holdings, and Time Warner Telecom will not receive any cash proceeds from the offering, the company said.

Deutsche Bank Securities, Lehman Bros. and JPMorgan Securities are joint bookrunning managers.