EDINBURG

Shenandoah Telecommunications Company Completes Acquisition of Horizon Telcom

Retrieved on: 
Monday, April 1, 2024
Shentel, Selective glucocorticoid receptor modulator, Education, Comcast, Sale, Acquisition, Senior, Telecommunications, Government, GCM Grosvenor

EDINBURG, Va., April 01, 2024 (GLOBE NEWSWIRE) --  Shenandoah Telecommunications Company (“Shentel” or the “Company”) (Nasdaq: SHEN) announced today the completion of its acquisition of Horizon Acquisition Parent LLC (“Horizon” or “Horizon Telcom”).

Key Points: 
  • EDINBURG, Va., April 01, 2024 (GLOBE NEWSWIRE) --  Shenandoah Telecommunications Company (“Shentel” or the “Company”) (Nasdaq: SHEN) announced today the completion of its acquisition of Horizon Acquisition Parent LLC (“Horizon” or “Horizon Telcom”).
  • Horizon is a leading commercial fiber provider in Ohio and adjacent states serving national wireless providers, carriers, enterprises, and government, education and healthcare customers.
  • Shentel plans to re-brand the Horizon commercial and residential fiber businesses to Glo Fiber.
  • The Company issued approximately 4.1 million shares of Shentel common stock to an investment fund managed by affiliates of GCM Grosvenor, a selling unit holder of Horizon.

Shenandoah Telecommunications Company Completes Sale of its Towers

Retrieved on: 
Friday, March 29, 2024
Acquisition, Sale, GLO

EDINBURG, Va., March 29, 2024 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel” or the “Company”) (Nasdaq: SHEN) announced that it has completed the initial closing of the previously disclosed sale of its tower portfolio and operations (“Tower Portfolio”) to Vertical Bridge Holdco, LLC (“Vertical Bridge”) for $309.9 million in cash.

Key Points: 
  • EDINBURG, Va., March 29, 2024 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel” or the “Company”) (Nasdaq: SHEN) announced that it has completed the initial closing of the previously disclosed sale of its tower portfolio and operations (“Tower Portfolio”) to Vertical Bridge Holdco, LLC (“Vertical Bridge”) for $309.9 million in cash.
  • “The proceeds from the sale of our Tower Portfolio will be used to fund the previously announced acquisition of Horizon Telcom and provide growth capital to accelerate our fiber-first strategy and planned expansion of Glo Fiber to approximately 600,000 homes and business passings by year-end 2026,” said Shentel’s President and CEO, Christopher E. French.

Shenandoah Telecommunications to Present at the New Street Research and BCG Fiber to the Future 2024 Conference

Retrieved on: 
Monday, March 18, 2024
BCG, Webcast, Shentel, Conference

EDINBURG, Va., March 18, 2024 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (Shentel) (NASDAQ:SHEN) announced that Ed McKay, Chief Operating Officer, will participate in a panel discussion at the New Street Research and BCG Fiber to the Future 2024 Conference on March 22, 2024 at 12:50 p.m.

Key Points: 
  • EDINBURG, Va., March 18, 2024 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (Shentel) (NASDAQ:SHEN) announced that Ed McKay, Chief Operating Officer, will participate in a panel discussion at the New Street Research and BCG Fiber to the Future 2024 Conference on March 22, 2024 at 12:50 p.m.
  • ET.
  • Investors may access a live webcast of the panel discussion on Shentel’s website at www.investor.shentel.com .
  • The webcast will be available for replay for a limited time on Shentel’s website following the presentation.

Shenandoah Telecommunications Company to Sell its Towers for $310 Million

Retrieved on: 
Friday, March 1, 2024
Acquisition, Sale, Transaction, Adjustment, Security (finance), Renewable energy

EDINBURG, Va., March 01, 2024 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel” or the “Company”) (Nasdaq: SHEN) announced that 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”).

Key Points: 
  • EDINBURG, Va., March 01, 2024 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel” or the “Company”) (Nasdaq: SHEN) announced that 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”).
  • Vertical Bridge will pay Shentel the $310.3 million purchase price on the date of the initial closing.
  • 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 sites1 and generated $18.6 million in revenue, $9.5 million of operating income and $11.6 million of Adjusted EBITDA2 in 2023.

Shenandoah Telecommunications Company Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Wednesday, February 21, 2024
Tower, SMB, Sprint, Shentel, Rationalization, Growth, Sale, Disclosure, Adjustment, Commercial, ARPU, Capital expenditure, GAAP, DSL, Webcast, Public expenditure, FTTH, Depreciation, Churn, Video game

EDINBURG, Va., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel”) (Nasdaq: SHEN) announced fourth quarter and full year 2023 financial and operating results.

Key Points: 
  • EDINBURG, Va., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel”) (Nasdaq: SHEN) announced fourth quarter and full year 2023 financial and operating results.
  • Consolidated net income in the fourth quarter of 2023 was $2.6 million, compared with net loss of $1.8 million in the fourth quarter of 2022.
  • Broadband operating expenses in the fourth quarter of 2023 were $57.1 million compared with $61.9 million in the fourth quarter of 2022.
  • Tower revenue for the fourth quarter of 2023 was consistent with revenue for fourth quarter of 2022.

Shenandoah Telecommunications Company to Hold its Fourth Quarter and Full Year 2023 Earnings Call at 8:30 a.m. on Wednesday, February 21, 2024

Retrieved on: 
Friday, February 2, 2024
Shentel

EDINBURG, Va., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (Shentel) (NASDAQ:SHEN) will release its fourth quarter and full year 2023 financial results before the market opens on Wednesday, February 21, 2024, and will host a conference call and simultaneous webcast on the same day at 8:30 a.m. Eastern Time to discuss Shentel’s financial results and business highlights.

Key Points: 
  • EDINBURG, Va., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (Shentel) (NASDAQ:SHEN) will release its fourth quarter and full year 2023 financial results before the market opens on Wednesday, February 21, 2024, and will host a conference call and simultaneous webcast on the same day at 8:30 a.m. Eastern Time to discuss Shentel’s financial results and business highlights.
  • A replay of the call will be available for a limited time on the Investor Relations page of the Company’s website.

Shenandoah Telecommunications Company Reports Third Quarter 2023 Results

Retrieved on: 
Friday, November 3, 2023
Acceleration, Sale, Sprint, Public expenditure, RGU, Beam, EBITDA, Net, Acquisition, Maintenance, Tower, Advertising, Growth, Commercial, Webcast, Depreciation, Capital expenditure, SMB, Rationalization, Shentel, GLO, Mobile phone, Video game, Bookkeeping, Cryptocurrency, Broadband

EDINBURG, Va., Nov. 03, 2023 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel”) (Nasdaq: SHEN) announced third quarter 2023 financial and operating results.

Key Points: 
  • EDINBURG, Va., Nov. 03, 2023 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel”) (Nasdaq: SHEN) announced third quarter 2023 financial and operating results.
  • Glo Fiber Markets added approximately 4,500 subscribers; 13.9% higher than the third quarter of 2022 and 12.5% higher than the second quarter 2023.
  • Consolidated net income was $1.6 million in the third quarter of 2023, compared with net loss of $2.7 million in the third quarter of 2022.
  • Broadband operating income was $9.3 million in the third quarter of 2023, compared to $4.8 million in the third quarter of 2022.

Shenandoah Telecommunications Company to Acquire Horizon Telcom

Retrieved on: 
Wednesday, October 25, 2023
NTIA, Education, ILEC, Bank, Government, Rothschild, History, GCM, GCM Grosvenor, FTTH, Citizens Bank, GAAP, Acquisition, Hunton Andrews Kurth, Transaction, Fiber, Bank statement, Fifth Third Bank, Bank of America, LLP, Rothschild & Co, PIK, Partnership, Webcast, ECP, CoBank, VWAP, Security (finance), Cable television, Cryptocurrency, Financial adviser, Horizon, Shentel

EDINBURG, Va., Oct. 24, 2023 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel” or the “Company”) (Nasdaq: SHEN) announced today it has entered into a definitive agreement to acquire 100% of the equity interests in Horizon Acquisition Parent LLC (“Horizon” or “Horizon Telcom”) for $385 million (the “Transaction”).

Key Points: 
  • EDINBURG, Va., Oct. 24, 2023 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel” or the “Company”) (Nasdaq: SHEN) announced today it has entered into a definitive agreement to acquire 100% of the equity interests in Horizon Acquisition Parent LLC (“Horizon” or “Horizon Telcom”) for $385 million (the “Transaction”).
  • Horizon is a leading commercial fiber provider in Ohio and adjacent states serving national wireless providers, carriers, enterprises, and government, education and healthcare customers.
  • Horizon and Shentel share a similar history and a passion for outstanding local customer service while providing state-of-the-art technologies.
  • 4 Reference price of $19.60 was based on the 30 day average VWAP following time Shentel entered into exclusivity with Horizon.

Shenandoah Telecommunications Company Announces 2023 Annual Dividend

Retrieved on: 
Tuesday, October 24, 2023
Growth, Shentel, Holding company

EDINBURG, Va., Oct. 24, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of Shenandoah Telecommunications Company (Shentel) (NASDAQ: SHEN) declared a cash dividend of $0.09 per share.

Key Points: 
  • EDINBURG, Va., Oct. 24, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of Shenandoah Telecommunications Company (Shentel) (NASDAQ: SHEN) declared a cash dividend of $0.09 per share.
  • The dividend will be payable December 1, 2023, to shareholders of record as of the close of business on November 7, 2023.
  • This dividend is an increase of $0.01 per share or 12.5% over the December 2022 dividend and will be Shentel’s sixty-fourth consecutive year of annual dividends.
  • “We are pleased to announce an increase in the annual dividend, reflecting our confidence in the long-term growth prospects of our Fiber First strategy and continued growth in Glo Fiber,” said President and CEO Christopher E. French.

Shenandoah Telecommunications Company to Hold its Third Quarter 2023 Earnings Call at 8:30 a.m. on Friday, November 3, 2023

Retrieved on: 
Thursday, October 19, 2023
Shentel, Financial adviser, Cryptocurrency

EDINBURG, Va., Oct. 19, 2023 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (Shentel) (NASDAQ:SHEN) will release its third quarter 2023 financial results before the market opens on Friday, November 3, 2023, and will host a conference call and simultaneous webcast on the same day at 8:30 a.m. Eastern Time to discuss Shentel’s financial results and business highlights.

Key Points: 
  • EDINBURG, Va., Oct. 19, 2023 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (Shentel) (NASDAQ:SHEN) will release its third quarter 2023 financial results before the market opens on Friday, November 3, 2023, and will host a conference call and simultaneous webcast on the same day at 8:30 a.m. Eastern Time to discuss Shentel’s financial results and business highlights.
  • A replay of the call will be available for a limited time on the Investor Relations page of the Company’s website.