Cable One and CanAm provide equity and debt capital for further deployments
HUDSON OAKS, Texas – Nextlink Internet, one of the fastest growing rural internet service providers in the U.S., announces additional capital infusions to speed deployment of fiber-optic service in Texas. Nextlink plans to use this capital to serve an additional 50,000+ rural and small-town homes and businesses with fiber optic services at speeds up to 5 Gbps symmetrical.
Cable One, Inc. (NYSE: CABO) has infused an additional $20 million of equity capital into Nextlink Internet, paired with an $80 million debt investment led by CanAm Enterprises, Inc. CEO and majority owner Bill Baker also invested additional equity capital into the company as part of the capital raise.
“We are excited to continue our commitment to rural communities across the US,” said Nextlink Internet CEO Bill Baker. “We are grateful for our partners Cable One and CanAm coming alongside us to realize the vision of bringing broadband to areas that have gone without adequate service for far too long. We are already in permitting discussions with many of the communities we seek to serve and expect to have field crews actively working on building these fiber networks in the coming weeks. Additionally, this capital raise serves to further strengthen our balance sheet as Nextlink looks to participate in the upcoming BEAD program.”
“We are pleased to extend our strong partnership with Bill and his team as Nextlink expands its fiber network and exceptional customer service to underserved and unserved communities across Texas,” said Todd Koetje, Cable One Chief Financial Officer.
“We are pleased to close on this financing with Nextlink, one of the best operators in the business,” said John Reid, Head of Investment Finance at CanAm. “CanAm’s mandate, on behalf of our investors, to provide attractive capital for projects in rural areas across the U.S. is ideally aligned with Nextlink’s objectives for rural broadband. This closing marks another milestone for CanAm as we continue to make substantial capital investment in the rural telecom infrastructure space.”
Nextlink Media Contact: mediarelations@team.nxlink.com