SurgePays acquires Torch Wireless for $800k; expands subsidized mobile broadband to all 50 states

SurgePays, Inc.

Acquired Torch Wireless for $800k cash plus monthly residual payments of $2-$3 per customer enrolled through Dec 31, 2022.
Torch provides subsidized mobile broadband via FCC's ACP; SurgePays now eligible in all 50 states (up from 14).
CEO says acquisition is accretive with zero shareholder dilution; no equity was issued.
Torch is also a licensed lifeline carrier; nationwide online enrollment expected to lower subscriber acquisition costs.

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