Dec. 19, 2017, concludes the 180-day lockup period on Altice USA, Inc. (NYSE:ATUS).
When the lockup period ends for ATUS, its pre-IPO shareholders, directors, and executives will have the chance to sell their more than 233.0 million outstanding shares. The potential for a sudden increase in stock available in the open market may cause a significant decrease in the price of Altice USA shares. Currently, just 51.7 million shares of ATUS are trading.
(Source: S-1/A)
Currently ATUS trades in the $19 to $20 range, significantly below its IPO price of $30 and lower than its first day closing price of $32.71 on June 22, 2017.
Business Overview: Provider of Broadband Communications and Video Services
Altice USA, along with its subsidiaries, operates as a broadband communications and video services provider in the United States. It operates via its Cablevision and Cequel segments. The company delivers broadband, Wi-Fi hotspot access, pay television, telephony services, proprietary content, and advertising services to approximately 4.9 million commercial and residential customers. In addition, the company offers wireless routers and Internet security software; managed desktop and server backup services; managed collaboration services comprising audio and Web conferencing; and pay television services, which include delivery of broadcast stations and cable networks, and advanced digital pay television services, such as high-definition channels, video-on-demand, digital video recorder, and pay-per-view.
(Source: S-1/A)
In addition, it provides Ethernet, data transport, IP-based virtual private network, and Internet access services; managed services, including business e-mail, hosted private branch exchange, Web space storage, and network security monitoring; data-driven television, digital, and other multi-platform advertising services; and data-driven, audience-based advertising solutions.
Further, the company operates local news channels, in addition to traffic and weather channels; News12.com, an online destination for local news on the Web; and News 12 To Go, a mobile app for phones and tablets. Altice USA operates across 21 states in the U.S. Altice USA, Inc. is headquartered in Bethpage, N.Y. Altice USA, Inc. is a subsidiary of Altice N.V.
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