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An announcement from Shenandoah Telecommunications Co (SHEN) is now available.
Shenandoah Telecommunications Company’s subsidiary, Shenandoah Mobile, LLC, has struck a deal to sell its comprehensive tower portfolio to Vertical Bridge for a cash sum of $310.3 million. This portfolio includes 226 sites, with a mix of macro cellular towers and small cell sites. The initial closing of the transaction is expected in late March 2024, with the possibility of further closings for additional sites subject to certain conditions. The deal also allows for a partial return of the purchase price should any towers remain unsold after a year, alongside typical contractual protections and a potential termination fee for Vertical Bridge if the agreement falls through.
Learn more about SHEN stock on TipRanks’ Stock Analysis page.
