---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-24-001118"
form_type: "8-K"
ticker: "SHEN"
cik: "0000354963"
company_name: "SHENANDOAH TELECOMMUNICATIONS CO/VA/"
filed_at: "2024-03-01T23:59:59+00:00"
generated_at: "2026-06-05T05:50:16.190953+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Shentel sells tower portfolio to Vertical Bridge for $310.3M in cash

## Summary
- Transaction includes 226 tower sites (218 macro towers, 8 small cells).
- Initial closing expected in March 2024; Vertical Bridge pays full $310.3M at first close.
- Tower portfolio generated $18.6M revenue, $9.5M operating income, $11.6M adj. EBITDA in 2023.
- Proceeds to fund Glo Fiber expansion to ~600,000 passings by end of 2026.
- Shentel expects to pay up to $10M in 2024 income taxes on the gain.

## SEC filing metadata
- accession: 0001171843-24-001118
- form_type: 8-K
- ticker: SHEN
- cik: 0000354963
- company_name: SHENANDOAH TELECOMMUNICATIONS CO/VA/
- filed_at: 2024-03-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/354963/000117184324001118/0001171843-24-001118-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/354963/000117184324001118/f8k_030124.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-24-001118
- JSON: https://secwatch.observer/filing/0001171843-24-001118.json
- Plain text: https://secwatch.observer/filing/0001171843-24-001118.txt

## Key facts
- Material Agreements
  SHENANDOAH TELECOMMUNICATIONS CO/VA/ entered into Purchase and Sale Agreement with Vertical Bridge Holdco, LLC valued at $310.3 million (effective 2024-02-29).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Vertical Bridge Holdco, LLC
  - Value: $310.3 million
  - Effective: 2024-02-29
  source text: On February 29, 2024, Shenandoah Mobile, LLC, a wholly-owned subsidiary of Shenandoah Telecommunications Company (collectively, “Shentel”), entered into a Purchase and Sale Agreement (the “Transaction Agreement”) with Vertical Bridge Holdco, LLC (“Vertical Bridge”) to sell substantially all of Shentel’s tower portfolio and operations (“Tower Portfolio”) to Vertical Bridge for $310.3 million in cash (the “Transaction”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/354963/000117184324001118/0001171843-24-001118-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.