secwatch.observer — SEC 8-K summary
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Issuer:     SHENANDOAH TELECOMMUNICATIONS CO/VA/ (SHEN)
CIK:        0000354963
Form:       8-K
Filed at:   2024-05-03T23:59:59+00:00
Accession:  0001171843-24-002508
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shentel Q1 net loss from continuing ops $4.1M; closes Tower sale, Horizon acquisition
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- Revenue grew 3.1% to $69.2M; net loss from continuing ops $4.1M vs income $0.7M YoY.
- Adjusted EBITDA $19.3M, consistent with Q1 2023; Glo Fiber added 5,000 subs, passings up 25,700.
- Completed $309.9M tower sale to Vertical Bridge on March 29, 2024; gain drives discontinued ops income $218.8M.
- On April 1, closed $385M Horizon acquisition ($305M cash + 4.1M shares); amended credit facility to $675M.
- Issued $81M of 7% perpetual preferred stock; pro forma debt net of cash ~$190M; liquidity ~$484M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/354963/000117184324002508/0001171843-24-002508-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/354963/000117184324002508/f8k_050324.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-002508

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer