M&A - SHENANDOAH TELECOMMUNICATIONS CO/VA/

Form Type: 10-K

Filing Date: 2025-02-20

Corporate Action: Acquisition

Type: Update

Accession Number: 000162828025006567

Filing Summary: Shenandoah Telecommunications Company ('Shentel') completed its acquisition of Horizon Acquisition Parent LLC on April 1, 2024, under a merger agreement dated October 24, 2023. The acquisition involved Shentel acquiring 100% of Horizon’s outstanding equity interests by issuing 4,100,375 shares of common stock and paying $347 million in cash. This strategic move is expected to enhance Shentel's broadband services as Horizon was a notable fiber provider. Additionally, Shentel completed the sale of its tower portfolio to Vertical Bridge Holdco, LLC for $309.9 million, marking a significant shift in its business strategy, transitioning the tower portfolio to discontinued operations. These transactions indicate Shentel's focus on expanding its broadband service capabilities while restructuring its asset base.

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