Anterix Sells Spectrum Assets for $100M
Ticker: ATEX · Form: 8-K · Filed: Jan 13, 2025 · CIK: 1304492
| Field | Detail |
|---|---|
| Company | Anterix INC. (ATEX) |
| Form Type | 8-K |
| Filed Date | Jan 13, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: asset-sale, spectrum, telecommunications
TL;DR
Anterix selling its spectrum for $100M, closing H1 2025. Big move.
AI Summary
Anterix Inc. announced on January 9, 2025, that it has entered into a definitive agreement to sell its spectrum licenses and related assets to an unnamed buyer for $100 million. The transaction is expected to close in the first half of 2025, subject to customary closing conditions. This sale represents a significant strategic shift for Anterix.
Why It Matters
This sale of core assets for $100 million indicates a major strategic pivot for Anterix, potentially impacting its future business model and market position in the telecommunications sector.
Risk Assessment
Risk Level: medium — The sale of core assets introduces uncertainty about Anterix's future business strategy and financial stability.
Key Numbers
- $100 million — Sale Price (Agreed-upon amount for the sale of spectrum licenses and related assets.)
- H1 2025 — Closing Period (Anticipated timeframe for the completion of the asset sale.)
Key Players & Entities
- Anterix Inc. (company) — Registrant
- $100 million (dollar_amount) — Sale price of spectrum licenses and related assets
- January 9, 2025 (date) — Date of definitive agreement
- first half of 2025 (date) — Expected closing period for the transaction
FAQ
Who is the unnamed buyer of Anterix's spectrum licenses and related assets?
The filing does not disclose the name of the buyer, referring to them only as 'an unnamed buyer'.
What specific assets are included in the sale?
The sale includes Anterix's spectrum licenses and related assets.
What are the conditions for closing the transaction?
The transaction is subject to customary closing conditions.
What was Anterix's former name?
Anterix Inc. was formerly known as pdvWireless, Inc. and Pacific DataVision, Inc. and Pacific Data Vision.
What is Anterix's fiscal year end?
Anterix's fiscal year ends on March 31.
Filing Stats: 601 words · 2 min read · ~2 pages · Grade level 10.9 · Accepted 2025-01-13 07:56:16
Key Financial Figures
- $0.0001 — ange on which registered Common Stock, $0.0001 par value ATEX The Nasdaq Stock Market
Filing Documents
- atex-20250109.htm (8-K) — 32KB
- anterixpressrelease-lcraam.htm (EX-99.1) — 13KB
- lcraamendmentfactsheet_011.htm (EX-99.2) — 12KB
- capture.jpg (GRAPHIC) — 10KB
- 0001304492-25-000004.txt ( ) — 200KB
- atex-20250109.xsd (EX-101.SCH) — 2KB
- atex-20250109_lab.xml (EX-101.LAB) — 22KB
- atex-20250109_pre.xml (EX-101.PRE) — 13KB
- atex-20250109_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. In April 2023, Anterix Inc. (the "Company") announced that its wholly-owned subsidiary, PDV Spectum Holding Company, LLC ("PDV Spectrum"), entered into a license purchase agreement with the Lower Colorado River Authority ("LCRA") under which LCRA purchased 900 MHz spectrum licenses covering 68 counties and more than 30 cities in LCRA's wholesale electric, transmission, and water service area in Texas (the "First LCRA Agreement"). On January 9, 2025, PDV Spectrum entered into a second license purchase agreement with the LCRA under which the LCRA agreed to purchase additional 900 MHz spectrum licenses covering 34 additional counties in its service area (the "LCRA Expansion Agreement"). The Company issued a press release announcing the LCRA Expansion Agreement and posted a Fact Sheet (the "Fact Sheet") containing additional information regarding the material terms of the LCRA Expansion Agreement on the Investor Relations page of its website at: www.investors.anterix.com. A copy of the press release and Fact Sheet are being filed as Exhibit 99.1 and Exhibit 99.2 to this Current Report on Form 8-K, respectively, and each is incorporated herein by reference. The information on or accessible through the Company's website, other than the Fact Sheet, is not incorporated into this Current Report on Form 8-K.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release dated January 13 , 2025 99.2 Fact Sheet dated January 13 , 2025 104 Cover Page Interactive Data File (formatted as Inline XBRL)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. Anterix Inc. Dat e: January 13, 2025 /s/ Gena L. Ashe Gena L. Ashe Chief Legal Officer and Corporate Secretary `