WOODLAND PARK, N.J., June 14, 2019
/PRNewswire/ -- pdvWireless, Inc. (or the "Company") (NASDAQ:
PDVW) focused on enabling broadband connectivity for critical
infrastructure and enterprise today announced its new operating
name and brand, Anterix.
"Anterix aims to deliver the dedicated broadband so desperately
needed to modernize our nation's critical
infrastructure. Enabling connectivity for the devices that can
power and protect the crucial services we all rely on, we are
poised and ready to transform the way utilities and enterprise
operate through the use of broadband technology," said Anterix CEO,
Morgan O'Brien.
The adoption of the Anterix name underscores the heightened
focus and new priorities that have been established by the Company.
Anterix, defined as architectural elements that provide strength
and foundational support, more clearly represents the Company's
commitment to serve as a foundational force for industrial
communications, leveraging the right combination of broadband
spectrum and available network technologies and solutions.
"This is the perfect time for repositioning the
Company. There's an urgent and increasing need for access to
dedicated broadband spectrum on which to build private LTE wireless
networks throughout the critical infrastructure industry," said
Anterix President & COO, Rob
Schwartz. "To meet this inexorable demand, we are
revolutionizing our company brand to more clearly express our
strategic vision of unlocking the extraordinary potential of 900
MHz spectrum to enhance and secure one of our nation's most vital
assets," Schwartz added.
In addition to the new corporate name, the Company will be
changing its ticker symbol on the Nasdaq Stock Market to ATEX
effective June 17, 2019. Until that
date, the Company's stock will continue to trade under the existing
PDVW ticker symbol.
About Anterix Inc.
Anterix Inc. (NASDAQ: ATEX) is focused on empowering the
modernization of critical infrastructure and enterprise businesses
by enabling broadband connectivity. Our foundational spectrum
provides the ability to transform our customers operations to meet
new business complexities while achieving higher levels of
performance and safety. Anterix is the largest holder of licensed
spectrum in the 900 MHz band, with nationwide coverage throughout
the contiguous United States,
Hawaii, Alaska and Puerto
Rico. Anterix is currently pursuing a regulatory proceeding
at the Federal Communications Commission that seeks to
modernize and realign the 900 MHz band to increase its usability
and capacity by allowing it to be utilized for the deployment of
broadband networks, technologies and solutions. Our chairman
and our CEO co-founded Nextel Communications and have over 60 years
of combined experience in telecom operations and innovative
spectrum initiatives. Anterix is headquartered in Woodland
Park, NJ.
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, 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; and
(iii) the demand by, and our potential contractual terms
with, electric utilities and other critical infrastructure
providers for the lease of our spectrum assets. 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.
Contacts
Natasha
Vecchiarelli
Director of Investor Relations & Corporate Communications
Anterix
973-531-4397
nvecchiarelli@anterix.com
Phil Sgro
Raffetto Herman Strategic Communications
202-585-0210
psgro@rhstrategic.com
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SOURCE Anterix Inc.
