Anterix Proposes $85 Millon Follow-On Common Stock Offering
Tuesday, July 16, 2019 | Comments

Anterix, formerly pdvWireless, announced the launch of a proposed follow-on public offering of $85 million of common stock. In addition, Anterix expects to grant the underwriters a 30-day option to purchase up to an additional $12.75 million of common stock at the public offering price less the underwriting discount.

The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. Anterix intends to use the net proceeds from the offering for retuning its spectrum by relocating incumbents and acquiring additional spectrum to qualify for broadband licenses and to support broadband use. Additionally, Anterix anticipates using the net proceeds for general corporate purposes, which may include, among other purposes; working capital; pursuing regulatory initiatives at the FCC; capital expenditures; other corporate expenses; and acquisitions of assets, licenses, products, technologies or businesses, although there are no present commitments or agreements to do so.

Morgan Stanley, J.P. Morgan and Evercore ISI are acting as joint book-running managers for the offering. B. Riley FBR and Craig-Hallum Capital Group are acting as co-managers for the offering.

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