Shenandoah Telecommunications Company to Sell its Towers for $310 Million [Yahoo! Finance]
Shenandoah Telecommunications Co (SHEN)
Last shenandoah telecommunications co earnings: 4/30 06:00 am
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Source: Yahoo! Finance
it has entered into a Purchase and Sale Agreement with Vertical Bridge Holdco, LLC (“Vertical Bridge”) to sell its tower portfolio and operations (“Tower Portfolio”) to Vertical Bridge for $310.3 million in cash (the “Transaction”). The Transaction is subject to customary closing conditions. Vertical Bridge will pay Shentel the $310.3 million purchase price on the date of the initial closing. Subsequent closings will occur as closing conditions are met for any remaining sites. The Company expects an initial closing in March 2024. The Company expects to pay up to $10 million in 2024 income taxes as a result of the gain on the sale after utilization of net operating loss carryforwards. The Shentel Tower Portfolio being sold consists of 226 tower portfolio sites and generated $18.6 million in revenue, $9.5 million of operating income and $11.6 million of Adjusted EBITDA in 2023. Please refer to the Company's Form 8-K filed with the Securities and Exchange Commission (“SEC”) for additiona
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SHEN
News
- Shenandoah Telecommunications (NASDAQ: SHEN) had its "buy" rating re-affirmed by analysts at BWS Financial. They now have a $26.00 price target on the stock.MarketBeat
- Shenandoah Telecommunications Company (NASDAQ:SHEN) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Shenandoah Telecommunications First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag [Yahoo! Finance]Yahoo! Finance
- Shenandoah Telecommunications Company Reports First Quarter 2024 ResultsGlobeNewswire
- Shenandoah Telecommunications Q1 Earnings Preview [Seeking Alpha]Seeking Alpha
SHEN
Earnings
- 5/3/24 - Beat
SHEN
Sec Filings
- 5/3/24 - Form S-8
- 5/3/24 - Form 10-Q
- 5/3/24 - Form 8-K
- SHEN's page on the SEC website