Shentel files Horizon acquisition financials: $23.8M loss on $66.7M revenue in 2023

SHENANDOAH TELECOMMUNICATIONS CO/VA/

Horizon net loss $23.8M in 2023 vs $12.0M loss in 2022; revenue $66.7M (+3% YoY).
Horizon total assets $432M; total debt $251M (including current) as of Dec 31, 2023.
Shentel issued 4.1M shares and paid $305M cash to acquire Horizon (per initial 8-K).
Horizon operating loss $5.2M in 2023 vs income $2.8M in 2022; capex $59.3M.

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