ATN International, Inc. (Nasdaq: ATNI), a prominent player in the digital infrastructure and communications services sector, has announced the successful completion of the initial closing of its previously disclosed sale of its Southwestern U.S. tower assets. The transaction, valued at an impressive $268 million in cash, involves ATN's subsidiary, Commnet Wireless, LLC, alongside certain other subsidiaries, transferring its Tower Portfolio to EIP Holdings IV, LLC, an affiliate of Everest Infrastructure Partners, Inc.

This strategic move is seen as a pivotal step towards reinforcing ATN's operational strength and financial resilience. Naji Khoury, the CEO of ATN, emphasized the significance of this transaction, stating, “The initial closing of the Tower Portfolio Transaction represents an important milestone in building a stronger, more resilient ATN.” He further elaborated on the financial implications, noting that the net proceeds from this sale are roughly equivalent to the company’s annual Adjusted EBITDA, thereby enhancing ATN's liquidity and enabling more disciplined capital allocation for future growth.

2. Financial Impact and Future Proceeds

The initial closing will be followed by additional closings that could yield up to an extra $30 million, contingent on meeting specific construction and operational benchmarks at sites not included in the initial transaction. This phased approach indicates ATN's commitment to maximizing value from the sale while ensuring operational integrity across its remaining assets.

In terms of immediate financial impacts, ATN has adjusted its expectations for the remainder of 2026. The company predicts a reduction of $3 million in consolidated and US Telecom segment revenues, a $4 million dip in operating income, and a $7 million decrease in Adjusted EBITDA for the last seven months of the year. Consequently, ATN's full-year Adjusted EBITDA outlook has been revised downward to a range of $183 million to $193 million, down from the previously estimated $190 million to $200 million.

3. Strategic Allocation of Proceeds

A significant portion of the proceeds from the initial closing—$68 million—will be allocated towards repaying outstanding borrowings under ATN's CoBank revolving credit facility. This move is expected to strengthen the company’s balance sheet, providing greater financial flexibility as it navigates the competitive landscape of digital infrastructure.

4. About ATN International, Inc.

Headquartered in Beverly, Massachusetts, ATN International, Inc. specializes in providing digital infrastructure and communications services across the United States and internationally, including the Caribbean. The company is particularly focused on addressing the growing demand for connectivity in rural and remote markets, offering advanced wireless and wireline solutions, high-speed internet services, and a range of carrier and enterprise communication services.

As ATN International positions itself for future growth and resilience, stakeholders will be keenly watching how the company leverages the proceeds from this significant transaction to enhance its market position and deliver long-term value to shareholders.

Original press release