Cable One Announces Pricing of Upsized Public Offering of Common Stock

Cable One, Inc. (NYSE: CABO) (“Cable One” or the “Company”) today announced the pricing of an upsized underwritten public offering (the “Offering”) of 250,000 shares of its common stock at a public offering price of $1,700.00 per share for total gross proceeds of $425.0 million. The Offering was upsized from the previously announced size of $400.0 million of shares. In addition, Cable One has granted the underwriters an option for 30 days to purchase up to an additional 37,500 shares of its common stock at the public offering price, less the underwriting discount. The Offering is expected to close on or about May 22, 2020, subject to customary closing conditions.

The net proceeds from the Offering will be approximately $409.1 million (or $470.4 million if the underwriters exercise their option to purchase additional shares in full) after giving effect to the underwriting discount but before giving effect to any offering expenses payable by Cable One. The Company intends to use a portion of the net proceeds from the Offering to repay outstanding borrowings under its revolving credit facility and the remainder for general corporate purposes, which may include strategic acquisitions and investments.

J.P. Morgan Securities LLC, BofA Securities and Wells Fargo Securities, LLC are acting as lead book-running managers for the Offering. Barclays Capital Inc., Credit Suisse Securities (USA) LLC, SunTrust Robinson Humphrey, Inc. and TD Securities (USA) LLC are also acting as book-running managers for the Offering. BMO Capital Markets Corp., BTIG, LLC, Citizens Capital Markets, Inc., Deutsche Bank Securities, Inc., Fifth Third Securities, Inc., MUFG Securities Americas Inc., B. Riley FBR, Inc., Cowen and Company, LLC, KeyBanc Capital Markets Inc., Raymond James & Associates, Inc. and Stephens Inc. are acting as co-managers for the Offering.

The Offering is being made pursuant to an effective shelf registration statement on Form S-3 filed by Cable One with the Securities and Exchange Commission (the “SEC”) and only by means of a prospectus supplement and accompanying prospectus included in the registration statement. A preliminary prospectus supplement relating to the Offering has been filed with the SEC. A final prospectus supplement describing the terms of the Offering will be filed with the SEC. Copies of the preliminary prospectus supplement and the accompanying prospectus, and the final prospectus supplement, when available, may be obtained: from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by email at [e-mail] or toll-free at [phone]; from BofA Securities, Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, North Carolina 28255-0001, by email at [e-mail]; from Wells Fargo Securities, Attn: Equity Syndicate Department, 500 West 33rd Street, New York, New York 10001, toll-free at [phone] or email a request to [e-mail]; or by visiting the SEC’s website at www.sec.gov under Cable One’s name.