ATN International Advances Strategic Priorities With Sale of U.S. Tower Portfolio

Rhea-AI Summary

ATN International (Nasdaq: ATNI) agreed to sell a 214-tower Southwestern U.S. portfolio to an affiliate of Everest Infrastructure Partners for up to $297 million in cash. The company expects initial closing in Q2 2026 with gross proceeds of approximately $250–$270 million.

ATN estimates taxes, minority payments and transaction costs of ~25–30% of gross proceeds, plans to allocate ~$70 million of initial proceeds to repay CoBank borrowings, and projects annualized reductions to consolidated revenue, operating income, and EBITDA.

Positive

• Proceeds up to $297M provide meaningful liquidity
• $70M of initial proceeds earmarked to repay CoBank revolver borrowings
• Initial closing Q2 2026 accelerates near-term balance sheet flexibility
• Transaction expected to strengthen financial flexibility and fund select growth

Negative

• Revenue -$5–$7M annualized from divested tower portfolio
• Operating income -$4–$6M annualized impact
• EBITDA -$10–$13M annualized impact
• 25–30% of gross proceeds estimated for taxes, minority payouts and costs

News Market Reaction – ATNI

-0.88%

9 alerts

-0.88% News Effect

+16.9% Peak in 12 hr 10 min

-$4M Valuation Impact

$395M Market Cap

1.0x Rel. Volume

On the day this news was published, ATNI declined 0.88%, reflecting a mild negative market reaction. Argus tracked a peak move of +16.9% during that session. Our momentum scanner triggered 9 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $4M from the company's valuation, bringing the market cap to $395M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Tower count: 214 towers Transaction value: up to $297 million Tax & related costs: 25%–30% of gross proceeds +5 more

8 metrics

Tower count 214 towers Southwestern U.S. tower portfolio being divested

Transaction value up to $297 million All-cash sale of U.S. tower portfolio

Tax & related costs 25%–30% of gross proceeds Estimated taxes, minority payments, transaction expenses

Initial closing proceeds $250–$270 million Expected gross proceeds at initial closing in Q2 2026

Holdback amount $20–$35 million Portion of initial proceeds tied to post-closing conditions

Subsequent closings $27–$47 million Follow-on proceeds over 12 months after initial closing

Revenue impact $5–$7 million reduction Estimated 12‑month impact on consolidated and US Telecom revenue

Debt repayment $70 million Planned repayment of CoBank revolving credit facility

Market Reality Check

Price: $28.02 Vol: Volume 46,631 is slightly...

normal vol

$28.02 Last Close

Volume Volume 46,631 is slightly below the 20-day average of 52,611 ahead of this tower sale news. normal

Technical Shares at $25.88 are trading above the 200-day MA of $17.92 and sit 3.44% below the 52-week high.

Peers on Argus

ATNI slipped 0.88% with modest volume while several telecom peers like RDCM (-8....

1 Down

ATNI slipped 0.88% with modest volume while several telecom peers like RDCM (-8.06%), CXDO (-4.12%), and KVHI (-3.51%) were also down. Momentum scans only flagged ATEX (-4.06%), supporting a more stock‑specific read on this tower divestiture.

Historical Context

5 past events · Latest: Dec 11 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 11	Dividend declaration	Positive	+0.9%	Board declared a quarterly dividend of <b>$0.275</b> per share.
Nov 24	Board appointment	Positive	+1.1%	Appointment of John Sims to Alaska Communications’ board.
Nov 05	Earnings results	Positive	+2.1%	Q3 2025 revenue <b>$183.2M</b>, Adjusted EBITDA <b>$49.9M</b>, return to net income.
Oct 22	Earnings call notice	Neutral	+3.2%	Announcement of Q3 2025 results release and conference call schedule.
Sep 18	Dividend declaration	Positive	-2.7%	Board declared a quarterly dividend of <b>$0.275</b> per share.

Pattern Detected

Recent ATNI headlines have generally seen positive price alignment, with only one notable divergence on a dividend announcement.

Recent Company History

Over the past six months, ATNI updates have centered on capital returns, governance, and fundamentals. Dividend declarations on Sep 18, 2025 and Dec 11, 2025 bracketed Q3 results on Nov 5, 2025, which highlighted revenue of $183.2M and Adjusted EBITDA of $49.9M, both growing year over year. A board appointment at Alaska Communications on Nov 24, 2025 and an earnings call notice on Oct 22, 2025 rounded out the news flow. Today’s tower sale fits into this broader capital allocation and balance sheet narrative.

Regulatory & Risk Context

Active S-3 Shelf · $300,000,000

Shelf Active

Active S-3 Shelf Registration 2025-08-15

$300,000,000 registered capacity

ATNI has an active Form S-3 shelf filed on Aug 15, 2025 to offer up to $300,000,000 of various securities, providing flexibility for future capital raises alongside balance sheet actions like today’s tower portfolio sale.

Market Pulse Summary

This announcement details a planned sale of 214 Southwestern U.S. towers for up to $297M in cash, wi...

Analysis

This announcement details a planned sale of 214 Southwestern U.S. towers for up to $297M in cash, with initial proceeds of $250–$270M and a portion tied to milestones and post‑closing conditions. ATNI expects annualized reductions of $5–$7M in revenue and $10–$13M in EBITDA but plans to repay $70M on its CoBank revolver. Combined with an existing $300M S‑3 shelf, this underscores a focus on balance sheet flexibility and capital redeployment.

Key Terms

ebitda, revolving credit facility, hart-scott-rodino act, form 8-k

4 terms

ebitda financial

"impact ... on consolidated and US Telecom segment revenue, operating income, and EBITDA1 would result"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

revolving credit facility financial

"allocate approximately $70 million of the initial Transaction proceeds to repay borrowings under its CoBank revolving credit facility"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

hart-scott-rodino act regulatory

"including certain third-party consents and the expiration of any waiting period under the Hart-Scott-Rodino Act"

A U.S. antitrust law that requires parties to large mergers and acquisitions to notify federal regulators and wait a set period before closing the deal, so authorities can check whether the transaction would unfairly reduce competition. For investors, the process is like notifying a referee before a major team trade: it can reveal objections, trigger investigations, delay or block a deal, and therefore affect transaction timing, value and deal risk.

form 8-k regulatory

"Please refer to the Company’s Form 8-K filed with the Securities and Exchange Commission"

A Form 8-K is a report that companies file with the government to share important news quickly, such as changes in leadership, major business deals, or financial updates. It matters because it helps investors stay informed about significant events that could affect the company's value or stock price.

AI-generated analysis. Not financial advice.

BEVERLY, Mass., Feb. 11, 2026 (GLOBE NEWSWIRE) -- ATN International, Inc. (“ATN” or the “Company”) (Nasdaq: ATNI), a leading provider of digital infrastructure and communications services, today announced that Commnet Wireless, LLC and certain of its subsidiaries have entered into a Purchase and Sale Agreement with an affiliate of Everest Infrastructure Partners, Inc. (“Everest”) a leading provider of wireless infrastructure, to divest its portfolio of 214 Southwestern U.S. towers and related operations (“Tower Portfolio”) for up to $297 million in an all cash transaction (the “Transaction”).

The Company currently expects estimated taxes, payments to minority investors in the Tower Portfolio, and transaction-related expenses will total approximately 25% to 30% of the gross proceeds received.

“This transaction allows us to unlock the inherent value of our tower portfolio—an asset built through years of disciplined capital allocation and operational excellence,” said Brad Martin, ATN’s Chief Executive Officer. “Our strategic objective remains unchanged: to build a stronger, more efficient, and resilient ATN that delivers sustainable, long-term value for our shareholders. We plan to use the proceeds to reduce debt, invest in our existing operations, and advance select growth opportunities. This transaction, combined with the operational improvements we have delivered over the past year, enhances our financial flexibility and strengthens our ability to invest in sustainable, long-term value creation.”

The Company expects the initial closing of the Transaction to occur in the second quarter of 2026 (the “Initial Closing”) generating gross proceeds of approximately $250 to $270 million. Of this Initial Closing amount, approximately $20 to $35 million will be subject to resolution of certain post-closing conditions within twelve months. Subsequent closings, totaling approximately $27 to $47 million, are anticipated to occur over the twelve months following the Initial Closing, subject to the achievement of specified construction and operational milestones at designated sites within the Tower Portfolio.

Upon full completion of the Transaction, the Company expects the estimated twelve-month impact (excluding timing effects of staged closings) on consolidated and US Telecom segment revenue, operating income, and EBITDA¹ would result in reductions of approximately $5 to $7 million, $4 to $6 million, and $10 to $13 million, respectively. These estimates reflect the impact of removing the Tower Portfolio contributions on an annualized basis. The Company intends to allocate approximately $70 million of the initial Transaction proceeds to repay borrowings under its CoBank revolving credit facility.

“This acquisition adds a high-quality portfolio of communications tower assets to our growing U.S. footprint. These towers offer significant additional capacity, and we expect strong future tenant growth across the portfolio. We look forward to partnering with existing and future customers to invest in reliable wireless coverage throughout the Southwestern United States, while continuing to work closely with the teams supporting these sites to deliver high-quality communications networks across the region,” said Mike Mackey, President of Everest.

The Transaction is subject to customary closing conditions, including certain third-party consents and the expiration of any waiting period under the Hart-Scott-Rodino Act. Please refer to the Company’s Form 8-K filed with the Securities and Exchange Commission (“SEC”) for additional details on the Transaction.

About Everest Infrastructure Partners, Inc.

Everest Infrastructure Partners, based in Pittsburgh, PA, is one of the largest and fastest-growing wireless tower companies in the world. Everest owns and markets thousands of wireless infrastructure locations that help connect today’s rapidly evolving communications networks. We are a team of industry veterans with expertise in delivering mission-critical solutions to hundreds of network operator customers. Since its inception in 2015, Everest has raised capital commitments in excess of $2.0 billion.  

About ATN

ATN International, Inc. (Nasdaq: ATNI), headquartered in Beverly, MA, is a leading provider of digital infrastructure and communications services for all. The Company operates in the United States and internationally, including the Caribbean region, with a focus on rural and remote markets with a growing demand for infrastructure investments. The Company’s operating subsidiaries today primarily provide: (i) advanced wireless and wireline connectivity to residential, business, and government customers, including a range of high-speed Internet and data services, fixed and mobile wireless solutions, and video and voice services; and (ii) carrier and enterprise communications services, such as terrestrial and submarine fiber optic transport, and communications tower facilities. For more information, please visit www.atni.com.

Advisors

Rothschild & Co acted as the sole financial advisor, and Lape Mansfield Nakasian + Gibson, LLC is acting as legal advisor to ATN.

Use of Non-GAAP Financial Measures and Definition of Terms

In addition to financial measures prepared in accordance with generally accepted accounting principles (“GAAP”), this press release also contains the non-GAAP financial measure of EBITDA, which is defined as Operating income (loss) before depreciation and amortization expense.

Cautionary Language Concerning Forward-Looking Statements

This press release contains forward-looking statements relating to, among other matters, the Company’s future financial performance, business goals and objectives, results of operations, and capital investments. These forward-looking statements are based on estimates, projections, beliefs, and assumptions and are not guarantees of future events or results. Actual future events and results could differ materially from the events and results indicated in these statements as a result of many factors, including: (i) the ability to receive the requisite regulatory consents and approvals to consummate the transaction; and (ii) the satisfaction of the other conditions to completion of the transaction and (iii) with respect to the use of proceeds, the timing, manner and extent to which such proceeds are deployed may be affected by future market conditions, potential changes in tax laws and the Company's ability to develop corporate investment and strategic opportunities meeting its criteria. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

Contact

Michele Satrowsky	Adam Rogers
Corporate Treasurer	Investor Relations
ATN International, Inc.	Sharon Merrill Advisors, Inc.
IR@atni.com	ATNI@investorrelations.com
978-619-1300

					Table 1
ATN International, Inc.
Reconciliation of Non-GAAP Measures
(In Thousands)
Estimated Twelve-month Impact of Sale of Tower Portfolio:
	Range
	Low *				High *
Revenue increase (decrease)	$	(5,000	)		$	(7,000	)
Operating expense (increase) decrease		(5,000	)			(6,000	)
Depreciation expense (increase) decrease		6,000				7,000
Operating Income increase (decrease)	$	(4,000	)		$	(6,000	)
Adjustment from Operating Income to EBITDA:
Depreciation expense increase (decrease)		(6,000	)			(7,000	)
EBITDA increase (decrease)	$	(10,000	)		$	(13,000	)
* The low range assumes the Initial Closing sites and the high end assumes all sites.

---

¹ EBITDA is a non-GAAP financial measure. Please see their definitions in the “Use of Non-GAAP Financial Measures and Definitions of Terms” below.

FAQ

What did ATNI announce about the sale of its U.S. tower portfolio on Feb 11, 2026?

ATNI announced the sale of a 214-tower Southwestern U.S. portfolio for up to $297 million. According to the company, the deal will close initially in Q2 2026 with staged subsequent closings tied to construction and operational milestones.

How much cash does ATNI expect to receive at the initial closing of the tower sale?

ATNI expects gross proceeds of approximately $250–$270 million at the initial closing. According to the company, $20–$35 million of that amount will remain subject to post-closing conditions for up to twelve months.

How will ATNI use the proceeds from the tower portfolio sale (ATNI)?

ATNI plans to use proceeds to reduce debt, invest in operations, and pursue growth opportunities. According to the company, about $70 million of initial proceeds will repay borrowings under its CoBank revolving credit facility.

What is the estimated financial impact on ATNI's revenue and EBITDA after the tower sale?

ATNI expects annualized reductions of approximately $5–$7M revenue and $10–$13M EBITDA. According to the company, these estimates reflect removing the Tower Portfolio contributions on a full-year basis.

When will the tower sale to Everest Infrastructure Partners close and what conditions apply?

The company expects an initial closing in Q2 2026 with subsequent closings over twelve months. According to the company, the transaction is subject to customary conditions, third-party consents and Hart-Scott-Rodino waiting-period clearance.