Straight Path Communications Releases Statement in Response to Recent Report
January 19 2017 - 3:52PM
Business Wire
Straight Path Communications Inc. (NYSE MKT: STRP) today
released the following statement in response to a recent short
seller report:
Straight Path Communications’ spectrum is part of the bedrock
for 5G and will play an important role in the development of this
next-generation ecosystem, underscored by activities already
underway by leading wireless carriers and equipment manufacturers
in the U.S.
Kerrisdale Capital’s report is nothing more than a transparent
attempt by a short seller to recoup the money they lost last week
after Straight Path Communications’ comprehensive settlement with
the FCC. It is clear from FCC rulemaking and industry actions that
this report has no credibility.
We are continuing to move forward as the largest holder of 39
GHz spectrum as well as a significant holder of 28 GHz in major
markets. We have cleared the way for a review of strategic
alternatives to maximize shareholder value and have retained
Evercore to represent us in our next endeavors.
About Straight Path Communications Inc. (STRP)
Straight Path (NYSE MKT: STRP) holds an extensive portfolio of
39 GHz and 28 GHz wireless spectrum licenses. Straight Path is
developing next generation wireless technology through its Straight
Path Ventures subsidiary. Straight Path holds, licenses and
conducts other business related to certain patents through its
Straight Path IP Group subsidiary. Additional information is
available on Straight Path's website: www.straightpath.com
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version on businesswire.com: http://www.businesswire.com/news/home/20170119006168/en/
Straight Path Communications Inc.Yonatan
Cantor, 804-433-1523yonatan.cantor@straightpath.com
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