NextWave Telecom Inc., parent company of top C-block personal communications services license-winner NextWave Personal Communications, completed May 6 at $290 million private placement. The underwriter was ING Barings.
Details of the private placement were revealed in the company’s Form 600, which was submitted to the Federal Communications Commission last week. The document will remain under wraps until the commission releases all approved C-block winners on public notice, which it is expected to do this week.
A spokesperson for NextWave told RCR the private placement had been part of NextWave’s financial strategy all along, and that all of the monies involved are from American investors. The spokesperson also said NextWave officials have other financial options under consideration.
“There is reason to believe this acquisition trend will intensify over the next 12 to 18 months to consolidate the industry around a small group of nationwide players, with perhaps another three or four specialist players.”
-Ann Lynch, Yankee Group analysts. Story on Page 19.