Anterix restates Q2 FY22 financials; excludes $10.2M gain on license exchange

Anterix Inc.

Audit Committee determined prior Q2 FY22 financials should no longer be relied upon due to omitted $10.2M gain on non-monetary license exchange.
Company incorrectly excluded gain from narrowband-to-broadband license swap approved by FCC in August 2021.
Restatement does not affect operating revenues or expenses; net impact is material to reported financials.
Material weakness identified in internal controls over intangible asset transactions; remediation plan underway.
Amended 10-Q/A filed same day as this 8-K to correct the error.

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