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 October 14, 1999
SBA COMMUNICATIONS CORPORATION
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(Exact name of registrant as specified in its charter)
Florida 333-50219 65-0716501
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(State or other jurisdiction of incorporation or organization) Commission File Number (I.R.S. Employer 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)
Item 5 Other Events
SBA Communications Corporation ("SBA") announced today the
commencement of a consent solicitation from the holders of its
$269,000,000 in aggregate principal amount at maturity of 12%
Senior Discount Notes due 2008 (the "Notes"). The record date
has been set as the close of business on October 7, 1999.
SBA is soliciting consents to amend a portion of Section 4.09
of the indenture, pertaining to the incurrence of
indebtedness. The amendment would permit the Company to
borrow, subject to certain availability tests, up to the
greater of $300 million or $150,000 per wireless
communications tower meeting certain requirements. The Company
is offering a cash consent payment of 1.25% of the accreted
value of the Notes to all holders of record who consent to the
proposed amendment on or prior to October 21, 1999.
The consent solicitation is conditioned upon, among other
things, the receipt of consents from holders of at least
two-thirds of all outstanding Notes. The consent solicitation
expires at 5:00pm, New York time, on October 21, 1999, unless
extended.
Lehman Brothers, Inc. is serving as Solicitation Agent in
connection with the consent solicitation.
D.F. King & Co., Inc. is serving as Information Agent.
Item 7 Financial Statements and Exhibits
(c) Exhibits
99.1 Press release dated October 8, 1999
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.
October 14, 1999 /s/ Jeffrey A. Stoops
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Jeffrey A. Stoops
Chief Financial Officer