WOODLAND PARK, N.J., May 22, 2019
/PRNewswire/ -- pdvWireless, Inc. (NASDAQ: PDVW) today
announced highlights from the Investor Day event it hosted
on Tuesday, May 21, 2019. The event featured presentations
from the company's management team, including Morgan E.
O'Brien, Chief Executive Officer, Rob Schwartz, President and
Chief Operating Officer, and Tim
Gray, Chief Financial Officer. Topics covered in the
presentation included: a regulatory update; an overview of the
company's spectrum assets; the company's market opportunities with
critical infrastructure and enterprise customers; and the company's
proposed business model and financial projections. A replay
of the Investor Day webcast as well as materials related to the
presentation are accessible via the company's website at
https://www.pdvwireless.com/investors/.
About pdvWireless, Inc.
pdvWireless, Inc. is focused
on developing and commercializing its spectrum assets to enable its
targeted critical infrastructure and enterprise customers to deploy
next generation private broadband networks, technologies and
solutions. 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 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 networks,
technologies and solutions. At the same time, we are pursuing
business opportunities with our targeted critical infrastructure
and enterprise customers, leveraging our spectrum, to address their
growing and unmet needs. 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 or in the Investor Day webcast or materials that
do not describe historical facts are forward-looking statements as
defined under the Federal securities laws. These forward-looking
statements include, but are not limited to, statements regarding:
(i) the Federal Communications Commission (the "FCC") will
issue a Report and Order that supports the deployment of broadband
LTE networks, technologies and solutions in the 900 MHz band on a
timely and economically viable basis; (ii) our ability to
satisfy the FCC's future requirements to qualify for broadband
licenses; (iii) our capital requirements and the timing and
costs of our retuning and spectrum acquisition activities; (iv) the
demand by, and our potential contractual terms with, electric
utilities and other critical infrastructure providers for the lease
of our spectrum assets; (v) the valuation of our spectrum assets;
and (vi) our business model, including the timing and amount of our
contract revenues, operating costs and gross margins. Any
such forward-looking statements are based on our current
expectations and are subject to a number of risks and uncertainties
that could cause our actual future results to differ materially
from our current expectations or those implied by the
forward-looking statements. These risks and uncertainties include,
but are not limited to: (i) our FCC initiatives may not be
successful on a timely basis or at all, and will continue to
require significant time and attention from our senior management
team and our expenditure of significant resources; (ii) any final
Report and Order issued by the FCC may differ, possibly
significantly, from the Notice of Proposed Rulemaking; (iii) even
if our FCC initiatives are successful, we may not be successful in
commercializing our spectrum assets to our targeted customers and
markets; (iv) we have no operating history with our proposed
business plan, which makes it difficult to evaluate our prospects
and future financial results, and our business activities,
strategic approaches and plans may not be successful; (v) we will
need to secure additional financing to support our long-term
business plans; (vi) we may not be able to correctly estimate our
operating expenses or future revenues; (vii) many of the third
parties who have objected to our FCC initiatives, or with whom we
competes against, have more resources, and greater political and
regulatory influence; (viii) the value of our spectrum assets may
fluctuate significantly based on supply and demand, as well as
technical and regulatory changes; and (ix) spectrum is a limited
resource, and we may not be able to obtain sufficient contiguous
spectrum to support our spectrum initiatives or our planned
business operations and future growth. These and other factors that
may affect our future results of operations are identified and
described in more detail in our filings with the Securities and
Exchange Commission (the "SEC"), including our Annual Report on
Form 10-K for the fiscal year ended March 31, 2019,
filed with the SEC on May 20, 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, we do 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.
Contact
Natasha Vecchiarelli
Director of Corporate Communications
pdvWireless, Inc.
973-531-4397
nvecchiarelli@pdvwireless.com
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SOURCE pdvWireless
