Uniti Group Inc. Completes Strategic Transaction with Everstream
June 01 2021 - 4:15PM
Uniti Group Inc. (“Uniti”) (Nasdaq: UNIT) announced today that it
has completed its previously announced strategic transaction with
Everstream Solutions LLC (“Everstream”). As part of the transaction
that was initially announced on November 9, 2020, Uniti entered
into two 20 year IRU lease agreements with Everstream on
Uniti-owned fiber. In addition, Uniti sold to Everstream a portion
of Uniti Fiber’s Northeast operations and certain dark fiber IRU
customer contracts acquired as part of the Windstream settlement.
Total cash consideration to Uniti, including
upfront IRU payments, was approximately $135 million. In addition
to the upfront proceeds, Uniti will receive fees of approximately
$3 million annually from Everstream over the initial 20 year term
of the IRU lease agreements, subject to an annual escalator of
2%.
ABOUT UNITI
Uniti, an internally managed real estate
investment trust, is engaged in the acquisition and construction of
mission critical communications infrastructure, and is a leading
provider of wireless infrastructure solutions for the
communications industry. As of March 31, 2021, Uniti owns over
125,000 fiber route miles, approximately 7.0 million fiber strand
miles, and other communications real estate throughout the United
States. Additional information about Uniti can be found on its
website at www.uniti.com.
INVESTOR AND MEDIA CONTACTS:
Bill DiTullio, 501-850-0872Vice President, Finance and Investor
Relationsbill.ditullio@uniti.com
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