Straight Path Communications Announces Completion of Merger with Verizon
February 28 2018 - 8:57AM
Business Wire
Straight Path Communications Inc. (“Straight Path”) (NYSE
American: STRP) announced today the completion of the merger
pursuant to the previously announced Agreement and Plan of Merger
(the “Merger Agreement”), dated as of May 11, 2017, by and among
Straight Path, Verizon Communications Inc. (“Verizon”), and Waves
Merger Sub I, Inc., a direct wholly-owned subsidiary of Verizon
(“Merger Sub”). The Merger Agreement was approved on August 2, 2017
at a special meeting of the shareholders of Straight Path.
Pursuant to the Merger Agreement, Merger Sub was merged with and
into Straight Path (the “Merger”), with Straight Path being the
surviving corporation of the Merger. Upon the closing of the
Merger, Straight Path will become a direct, wholly-owned subsidiary
of Verizon. As a result of the Merger, Straight Path’s shares will
be delisted from the NYSE American with trading suspended prior to
the open of business today.
About Straight Path Communications Inc.
Straight Path (NYSE American: STRP) holds an extensive portfolio
of 39 GHz and 28 GHz wireless spectrum licenses. Straight Path is
developing next generation wireless technology through its Straight
Path Ventures subsidiary. Additional information is available on
Straight Path's websites.
Corporate: www.straightpath.com.Spectrum: www.straightpath39.com.
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VerizonBob Varettoni: (917) 734-4156
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