Vecima Sells Some Wireless Spectrum
Vecima Networks' subsidiary YourLink has entered into an agreement to sell a portion of its wireless spectrum assets in the 3.5 GHz band to a Canadian wireless service provider. The transaction is structured in two phases. The first phase includes the purchas...
The transaction is structured in two phases. The first phase includes the purchase of 16 licences, predominantly in Alberta and Ontario for a purchase price of $8 million. Following the Phase 1 closing, the purchaser will have paid for the option to purchase an additional 20 spectrum licenses in a second phase for a purchase price of up to $11 million on or before Dec. 31.
The agreement also provides the purchaser with a right of first refusal for approximately $1 million on additional spectrum licenses in addition to those subject to the first two phases of the transaction.
The licenses sold in both phases together represent approximately 58% of YourLink's current sub-10 GHz spectrum asset holdings measured on a MHz-POP basis.