Optimum Communications (OPTU) Surges 66.1% on $300 Million Tender Offer at 280% Premium

Optimum Communications (NYSE:OPTU) shares surged 66.1% on June 2, 2026, after subsidiary CSC Investments II LLC launched a tender offer for up to 120 million shares of Class A common stock at $2.50 per share in cash. The offer represents a 280% premium to the previous closing price of $0.658. If fully subscribed, the $300 million buyback would cover approximately 42.5% of outstanding Class A shares. The move is part of a broader initiative to reposition the company’s capital structure ahead of discussions with debt holders, aimed at protecting assets and maximizing stakeholder value. The rally follows a prolonged slump. The stock is down 33.4% year-to-date and had tumbled 11.6% on May 8 after reporting a first-quarter loss of $6.10 per share, a sharp revenue decline, and a loss of 213,700 broadband subscribers. The tender offer provides a temporary reprieve, though operational challenges remain.