Cable One amends MBI partnership; pays $250M upfront for enhanced call/put flexibility

Cable One, Inc.

Paid $250M cash and MBI incurred $100M debt for other equity holders; reduces future purchase price dollar-for-dollar.
Call right reinstated exercisable after Q3 2025; put right deferred to no earlier than Jan 1, 2026, closing no earlier than Oct 1, 2026.
If put/call exercised, purchase price estimated $410M-$550M for 55% stake; MBI net debt then $845M-$895M.
MBI has ~226K data customers, 674K passings, $320M revenue in last twelve months.
Net leverage expected to peak in Q4 2024 following transaction.

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