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Stock impact report

Contract for citywide fibre optic broadband service on agenda for Joplin City Council meeting [Yahoo! Finance]

Nelnet, Inc. (NNI) 
US:NYSE Investor Relations: nelnet.com/investors
Company Research Source: Yahoo! Finance
The provider chosen is Allo Missouri, a division of Allo Fiber based in Lincoln, Nebraska. Allo supplies service to 50 cities in three states: Nebraska, Colorado and Arizona. The city would contribute $4.05 million toward the costs of construction of the internet network. That money is allocated from a grant the city received from the American Rescue Plan Act and only expenses that are eligible would be paid from city funds. The company would have two years from the time the contract is approved to complete the construction of the system's backbone. Allo would have to submit its final allowable costs by Aug. 31, 2026, in order for the city to process those final costs before the expiration of the federal grant program at the end of 2026. Allo is a privately funded company that was founded in 2003. It has investors that include Nelnet, a Nebraska technology company; and SDC Capital Partners headquartered in New York, a private investment firm for IT and communications infrastructu Show less Read more
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