UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934.
Date of Report April 18, 2000
SBA COMMUNICATIONS CORPORATION
(Exact name of registrant as specified in its charter)
Florida 333-50219 65-0716501
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(State or other jurisdiction Commission File Number (I.R.S. Employer
of incorporation or organization) Identification No.)
One Town Center Road, Boca Raton, Florida 33486
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(Address of principal executive offices) (Zip code)
(561) 995-7670
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(Registrant's telephone number, including area code)
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Item 5 Other Events
SBA Communications Corporation ("SBA") reported that in the
first quarter it increased its tower portfolio by 188 towers
to 1,351 total towers. Of the 188 towers added in the first
quarter, 112 were newly-built and 76 were acquisitions of
existing towers. The 76 towers were acquired in fifteen
separate transactions at an aggregate price of $30.3 million.
Based on tenant leases executed as of March 31, 2000, same
tower revenue growth for the trailing twelve months on the 586
towers SBA owned as of March 31, 1999 was 33%.
At March 31, 2000, SBA was involved in projects for over 1,500
new tower builds for its ownership throughout the nation,
consisting of over 600 build-to-suit mandates from wireless
carriers and over 900 sites SBA is developing through its
strategic siting efforts. The increase in build-to-suit
mandates reflects new agreements SBA entered into in the first
quarter with Alamosa PCS and Telecorp PCS, which agreements
SBA estimates will each produce at least 100 new towers.
SBA also announced two executive-level management changes.
Jeffrey A. Stoops, previously its Chief Financial Officer, has
been promoted to President, and will be responsible for all
day-to-day operations of SBA. Steven E. Bernstein continues in
the role of Chairman and Chief Executive Officer. John Marino,
previously Vice President - Corporate Development, has been
promoted to Chief Financial Officer.
Item 7 Financial Statements and Exhibits
(c) Exhibits
99.1 Press release dated April 11, 2000
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
April 18, 2000 /s/ Pamela J. Kline
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Pamela J. Kline
Chief Accounting Officer