WOODLAND PARK, N.J., March 13,
2019 /PRNewswire/ -- pdvWireless, Inc., (the
"Company"), today announced that the Federal Communications
Commission ("FCC") has voted early to adopt its Notice of Proposed
Rulemaking ("NPRM") in the 900 MHz proceeding in advance of the
FCC's March Open Meeting. The NPRM, which had been scheduled
for consideration at the Open Meeting, is related to the Company's
Petition for Rulemaking filed jointly with the Enterprise Wireless
Alliance and the Notice of Inquiry ("NOI") previously released by
the FCC, addressing the evolution of the 900 MHz band to support
broadband as well as narrowband operations.
"We thank Chairman Pai and the Commissioners for adopting the
900 MHz NPRM, taking us one step closer to unlocking the full
potential that this spectrum band has to offer. Designating
this valuable spectrum for broadband will allow innovation and
investment to flow, bringing the benefits of broadband to a new
range of private enterprise customers, including utilities and
other critical enterprise entities. We at PDV believe that
private, secure wireless networks, which are essential to securing
our nation's grid and providing broadband to private enterprise,
are a perfect fit for this block of spectrum," said Robert Schwartz, President & COO of
pdvWireless.
The Company looks forward to reviewing the final text of the
NPRM. Once released by the FCC, it can be found via the
following link
https://www.fcc.gov/edocs/search-results?t=quick&dockets=17-200.
The Company intends to issue a statement discussing its perspective
of the adopted NPRM soon after it is made publicly
available.
About pdvWireless, Inc.
pdvWireless, Inc. (NASDAQ: PDVW) is focused on developing and
offering solutions that leverage its spectrum assets for the
deployment of next generation private broadband networks designed
to meet the needs of critical infrastructure and enterprise
customers. We are the largest holder of licensed nationwide
spectrum in the 900 MHz spectrum band throughout the contiguous
United States, plus Hawaii, Alaska and Puerto
Rico. On average, we hold approximately 60% of the channels
in the Part 90 portion of the 900 MHz band in the top 20
metropolitan market areas in the United
States. We are currently pursuing a regulatory proceeding at
the Federal Communications Commission that seeks to modernize and
realign a portion of the 900 MHz band to increase its usability and
capacity and accommodate the future deployment of broadband
technologies and services. At the same time, we are expecting to
enable private broadband network solutions, leveraging our
spectrum, that address the growing and unmet needs of our targeted
critical infrastructure and enterprise customers. Our Chairman,
Brian McAuley, and CEO, Morgan O'Brien, were the co-founders of Nextel
Communications and have over 60 years of combined experience in
telecom operations and successfully developing regulatory driven
spectrum initiatives to address the unmet wireless communications
needs of businesses. pdvWireless is headquartered in Woodland Park,
New Jersey.
Forward-Looking Statements
Any statements contained in this press release that do not
describe historical facts are forward-looking statements as defined
under the Federal securities laws. These forward-looking statements
include statements regarding the regulatory status, timing and
results of the Company's initiatives and related activities
involving the FCC and the Company's spectrum and other business
initiatives and opportunities. Any forward-looking statements
contained herein are based on the Company's current expectations
but are subject to a number of risks and uncertainties that could
cause its actual future results to differ materially from its
current expectations or those implied by the forward-looking
statements. These risks and uncertainties include, but are not
limited to: (i) the Company's spectrum initiatives, including its
FCC proceedings aimed at modernizing and realigning the 900 MHz
spectrum band to increase its usability and capacity, which
contemplates the utilization of such spectrum for the future
deployment of broadband technologies and services, may not be
successful on a timely basis or at all, and may continue to require
significant time and attention from its senior management team and
the expenditure of significant resources; (ii) the Company may not
be successful in identifying, developing and commercializing
network and mobile communication solutions utilizing its current
and future spectrum and commercially available technologies; (iii)
the Company has had net losses each year since its inception and
may not achieve or maintain profitability in the future; (iv) the
Company's ability to control the costs and to achieve the expected
operational benefits and long- term cost savings of its
restructuring plans, including the transfer of its TeamConnect and
pdvConnect businesses; (v) the wireless communications
industry is highly competitive and the Company may not be able to
compete successfully; and (vi) government regulation could
adversely affect the Company's business and prospects. These and
other factors that may affect the Company's future results of
operations are identified and described in more detail in its
filings with the Securities and Exchange Commission (the "SEC"),
including its Annual Report on Form 10-K/A for the fiscal year
ended March 31, 2018, filed with the
SEC on August 9, 2018. Modifications
to those factors and/or additional factors are described in the
Company's Quarterly Report on Form 10-Q for the quarter ended
December 31, 2018, filed with the SEC
on February 8, 2019. You should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. Except as required
by applicable law, the Company does not intend to update any of the
forward-looking statements to conform these statements to actual
results, later events or circumstances or to reflect the occurrence
of unanticipated events.
Contacts
Natasha Vecchiarelli
Director of Corporate Communications
pdvWireless, Inc.
973-531-4397
nvecchiarelli@pdvwireless.com
Phil Sgro
Raffetto Herman Strategic Communications
202-585-0210
psgro@rhstrategic.com
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SOURCE pdvWireless
