ATN International, Inc. Completes Initial Closing on the Sale of its Towers and Updates 2026 Outlook

Rhea-AI Summary

ATN (Nasdaq: ATNI) completed the initial closing of its Southwestern U.S. tower sale, receiving $268 million in cash. Up to $30 million additional proceeds may follow over 12 months. ATN plans to repay $68 million on its CoBank revolver and now expects 2026 Adjusted EBITDA of $183–$193 million, versus prior guidance of $190–$200 million, reflecting lower 2026 revenue and earnings from the divested assets.

Positive

• Initial tower sale closing delivers $268 million cash proceeds
• Potential additional tower sale proceeds of up to $30 million over 12 months
• Plans to repay $68 million outstanding on CoBank revolving credit facility
• Transaction proceeds broadly comparable to ATN’s annual Adjusted EBITDA, enhancing liquidity

Negative

• Remaining seven months of 2026 consolidated revenue expected to decrease by $3 million
• Remaining seven months of 2026 operating income expected to decline by $4 million
• Remaining seven months of 2026 Adjusted EBITDA expected to decrease by $7 million
• 2026 full-year Adjusted EBITDA outlook reduced to $183–$193 million from $190–$200 million

News Market Reaction – ATNI

-8.71%

3 alerts

-8.71% Session close to close

$398.36M Market Cap

0.9x Rel. Volume

In the Jun 3 session, ATNI declined 8.71%, reflecting a notable negative market reaction. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved -8.7% in the session following this news. A negative reaction despite the sizeable $...

Analysis

The stock moved -8.7% in the session following this news. A negative reaction despite the sizeable $268 million tower sale proceeds would fit prior patterns where generally positive developments saw selling pressure. The revised 2026 Adjusted EBITDA outlook of $183–$193M, down from $190–$200M, highlights the earnings trade‑off from asset sales and could weigh on sentiment. Investors may focus on how efficiently ATN redeploys cash, the impact of $68 million in debt repayment, and any future issuance under the $300M shelf.

Key Figures

Initial tower sale proceeds: $268 million Additional potential proceeds: $30 million Debt repayment: $68 million +5 more

8 metrics

Initial tower sale proceeds $268 million Cash proceeds received at initial closing of Tower Portfolio Transaction

Additional potential proceeds $30 million Subsequent tower sale closings expected over next twelve months

Debt repayment $68 million Allocated from initial closing proceeds to repay CoBank revolving credit facility

2026 revenue impact $3 million Expected reduction to remaining seven months of 2026 consolidated and US Telecom revenues

2026 operating income impact $4 million Expected reduction to remaining seven months of 2026 operating income

2026 Adjusted EBITDA impact $7 million Expected reduction to remaining seven months of 2026 Adjusted EBITDA

Prior 2026 Adj. EBITDA outlook $190–$200 million Previously disclosed full‑year 2026 Adjusted EBITDA outlook

Revised 2026 Adj. EBITDA outlook $183–$193 million Updated full‑year 2026 Adjusted EBITDA outlook after tower sale impact

Historical Context

5 past events · Latest: May 29 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 29	Investor conference	Positive	-1.0%	Participation in East Coast IDEAS investor conference with 1x1 meetings.
May 06	Earnings and guidance	Positive	-6.2%	Q1 2026 beat with Adjusted EBITDA growth and reaffirmed full‑year outlook.
Apr 22	Earnings call notice	Neutral	+2.3%	Announcement of timing for Q1 2026 results release and conference call.
Apr 07	CEO transition	Positive	-5.9%	Appointment of experienced telecom executive Naji Khoury as new CEO.
Mar 18	Dividend declaration	Positive	+0.6%	Board declared a quarterly dividend of $0.275 per common share.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent history shows several generally positive events followed by negative or muted price reactions, suggesting a tendency for the stock to underreact or sell off on good news.

Recent Company History

Over the last few months, ATNI reported stronger Q1 2026 results with revenue of $182.2M, Adjusted EBITDA of $48.6M, and reaffirmed its 2026 outlook, yet the stock fell 6.17% after that release. A new CEO, Naji Khoury, was appointed in April, with shares declining 5.87% following the announcement. The company also maintained its dividend at $0.275 per share and scheduled investor conferences and earnings calls. Today’s tower sale closing and modestly reduced 2026 Adjusted EBITDA outlook build directly on the previously disclosed tower monetization plan.

Key Terms

adjusted ebitda, non-gaap, gaap, revolving credit facility, +2 more

6 terms

adjusted ebitda financial

"With net proceeds from the initial closing broadly the size of our annual Adjusted EBITDA..."

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

non-gaap financial

"In addition to financial measures prepared in accordance with generally accepted accounting principles (“GAAP”), this press release also contains forward-looking Adjusted EBITDA, a non-GAAP financial measure."

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

gaap financial

"In addition to financial measures prepared in accordance with generally accepted accounting principles (“GAAP”), this press release also contains forward-looking Adjusted EBITDA..."

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

View in glossary

revolving credit facility financial

"the Company will allocate $68 million of the initial closing proceeds to repay borrowings outstanding 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.

stock-based compensation financial

"before depreciation and amortization expense, transaction-related charges, restructuring and reorganization expenses, the loss on dispositions, transfers and contingent consideration, and non-cash stock-based compensation."

Stock-based compensation is when a company pays employees, directors or consultants with shares or the right to buy shares instead of or in addition to cash. It matters to investors because issuing stock or options spreads ownership thinner (like cutting a pie into more slices), which can reduce each existing share’s claim on profits and can also change reported earnings; investors watch it to assess true cost of running the business and how management is incentivized.

View in glossary

regulation s-k regulatory

"as permitted by Item 10(e)(1)(i)(B) of Regulation S-K, because of the impact and timing..."

A set of U.S. Securities and Exchange Commission rules that tell public companies which narrative and qualitative details must be disclosed in filings, such as risk factors, management discussion, executive pay, legal proceedings and business description. Think of it as a standardized checklist or blueprint that ensures investors get the same types of background information from every company so they can compare risks, management quality and strategy before making investment decisions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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ATN received $268 million in cash proceeds upon initial closing

BEVERLY, Mass., June 02, 2026 (GLOBE NEWSWIRE) -- ATN International, Inc. (“ATN”, the “Company”, “we”, “us”, and “our”) (Nasdaq: ATNI), a leading provider of digital infrastructure and communications services, announced that its subsidiary, Commnet Wireless, LLC and certain of its subsidiaries have completed the initial closing (the “initial closing”) of the previously disclosed sale of Southwestern U.S. towers and related operations (the “Tower Portfolio”). to EIP Holdings IV, LLC, an affiliate of Everest Infrastructure Partners, Inc. for $268 million in cash (the “Tower Portfolio Transaction”).

“The initial closing of the Tower Portfolio Transaction represents an important milestone in building a stronger, more resilient ATN,” said Naji Khoury, Chief Executive Officer of ATN. “With net proceeds from the initial closing broadly the size of our annual Adjusted EBITDA, we are enhancing our liquidity and financial flexibility. This positions us to execute disciplined capital allocation and invest in opportunities that drive performance and deliver long-term stockholder value.”

Subsequent closings, up to an additional $30 million in proceeds, are expected to occur over the next twelve months, subject to the achievement of specified construction and operational milestones at sites not transferred at the initial closing.

As previously disclosed, the Company will allocate $68 million of the initial closing proceeds to repay borrowings outstanding under its CoBank revolving credit facility.

The Company expects the impact of the initial closing will reduce the remaining seven months of 2026 consolidated and US Telecom segment revenues by $3 million, operating income by $4 million, and Adjusted EBITDA¹ by $7 million. As a result, the Company’s previously disclosed 2026 full-year Adjusted EBITDA¹ outlook of $190 to $200 million is now expected to be $183 million to $193 million.

About ATN

ATN International, Inc. (Nasdaq: ATNI), headquartered in Beverly, Massachusetts, 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.

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 forward-looking Adjusted EBITDA, a non-GAAP financial measure.

¹Adjusted EBITDA is defined as Operating income (loss) before depreciation and amortization expense, transaction-related charges, restructuring and reorganization expenses, the loss on dispositions, transfers and contingent consideration, and non-cash stock-based compensation.

The Company believes that the inclusion of this non-GAAP financial measure helps investors gain a meaningful understanding of the Company's core operating results and enhances the usefulness of comparing such performance with prior periods. Management uses this non-GAAP measure, in addition to GAAP financial measures, as the basis for measuring the Company’s core operating performance and comparing such performance to that of prior periods. The forward-looking non-GAAP financial measure included in this press release is not meant to be considered superior to or a substitute for results of operations prepared in accordance with GAAP and should be used supplementally to the Company’s GAAP financial results.

Forward-looking Adjusted EBITDA for the full-year 2026 excludes potential charges or gains that may be recorded during the fiscal year, including among other things such as restructuring and reorganization expenses, transaction-related expenses and gains or losses on dispositions, transfers and contingent consideration. The Company has not attempted to provide a reconciliation of such forward-looking non-GAAP earnings guidance to the comparable GAAP measure, as permitted by Item 10(e)(1)(i)(B) of Regulation S-K, because of the impact and timing of these potential charges or gains is inherently uncertain and difficult to predict and is unavailable without unreasonable efforts. In addition, the Company believes such reconciliation would imply a degree of precision and certainty that could be confusing to investors. Such items could have a substantial impact on GAAP measures of the Company’s financial performance.

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, and results of operations, its future revenues, operating income, cash flows, network and operating costs, Adjusted EBITDA, and capital investments; additional closings of the remaining Tower Portfolio and the timing thereof; the Company’s liquidity; and management’s plans and strategy for the future. 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, among others: (1) the general performance of the Company’s operations, including operating margins, revenues, capital expenditures, the impact of cost savings initiatives, and the retention of and future growth of the Company’s subscriber base and average revenue per user; (2) our ability to satisfy other remaining conditions to achieve subsequent closings with respect to sites in the Tower Portfolio; (3) with respect to the use of proceeds resulting from the Tower Portfolio, 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; (4) government regulation of the Company’s businesses, which may impact the Company’s telecommunications licenses, the Company’s revenue and the Company’s operating costs; (5) the impact (if any) of geopolitical instability and U.S. military presence in the Caribbean; (6) management transitions, and the loss of, or an inability to recruit skilled personnel in the Company’s various jurisdictions, including key members of management; (7) the Company’s reliance on a limited number of key suppliers and vendors for timely and cost-effective supply of equipment and services relating to the Company’s network infrastructure; (8) the Company’s ability to satisfy the needs and demands of the Company’s major carrier customers; (9) the Company’s ability to realize expansion plans for its fiber markets; (10) the adequacy and expansion capabilities of the Company’s network capacity and customer service system to support the Company’s customer growth; (11) the Company’s ability to efficiently and cost-effectively upgrade the Company’s networks and information technology platforms to address rapid and significant technological changes in the telecommunications industry; (12) the Company’s continued access to capital and credit markets on terms it deems favorable; (13) the Company’s ability to successfully replace revenue declines in its US Telecom businesses as a result of the pending US tower portfolio sale through carrier, enterprise broadband, and consumer-based broadband services; (14) ongoing risk of an economic downturn, political, geopolitical and other risks and opportunities impacting the Company’s operations, including those resulting from changes and uncertainties related to trade policies and tariff regulations, financial market volatility and disruption, uncertain economic conditions in the U.S. and abroad, inflationary concerns, and other macroeconomic headwinds including increased costs and supply chain disruptions; (15) the occurrence of weather events and natural catastrophes and the Company’s ability to secure the appropriate level of insurance coverage for these assets; and (16) increased competition. These and other additional factors that may cause actual future events and results to differ materially from the events and results indicated in the forward-looking statements above are set forth more fully under Item 1A “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (“SEC”) on March 16, 2026 and the other reports the Company files from time to time with the SEC. The Company undertakes no obligation and has no intention to update these forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors that may affect such forward-looking statements, except as required by applicable law.

Company Contact: Michele Satrowsky SVP, Head of IR & Treasury ATN International Inc. ir@atni.com

Investor Relations Contact: Joe Noyons or Kelley Buchhorn Three Part Advisors, LLC jnoyons@threepa.com; kbuchhorn@threepa.com

	Table 1
ATN International, Inc.
Reconciliation of Non-GAAP Measures
(In Thousands)
Forecasted Impact on Statement of Operations
For the year ended December 31, 2026
	Forecasted Impact
Revenue decrease	$	(3,000	)
Operating expense increase		(4,000	)
Depreciation expense decrease		3,000
Operating income decrease	$	(4,000	)
Adjustments from Operating Income to EBITDA:
Depreciation expense decrease		(3,000	)
EBITDA decrease	$	(7,000	)
Adjustments from EBITDA to Adjusted EBITDA:
None		-
Adjusted EBITDA decrease	$	(7,000	)

FAQ

What did ATN (NASDAQ: ATNI) announce about its Southwestern U.S. tower sale on June 2, 2026?

ATN announced it completed the initial closing of its Southwestern U.S. tower sale, receiving $268 million in cash. According to ATN, further closings could add up to $30 million over 12 months, subject to construction and operational milestones.

How much cash did ATN (ATNI) receive from the initial tower portfolio transaction?

ATN received $268 million in cash from the initial tower portfolio closing. According to ATN, the proceeds are broadly comparable to its annual Adjusted EBITDA and will support liquidity, financial flexibility, and disciplined capital allocation across its communications infrastructure operations.

How will the ATN (ATNI) tower sale affect its 2026 financial outlook?

The tower sale reduced ATN’s 2026 Adjusted EBITDA outlook to $183–$193 million. According to ATN, the initial closing is expected to lower the remaining seven months of 2026 revenue by $3 million and Adjusted EBITDA by $7 million.

What impact does the ATN (ATNI) tower sale have on its debt levels?

ATN plans to use $68 million of proceeds to repay its CoBank revolving credit facility. According to ATN, this debt reduction is part of using tower sale proceeds to enhance liquidity, financial flexibility, and support future infrastructure investments in its target markets.

Could ATN (NASDAQ: ATNI) receive additional proceeds from the tower portfolio transaction?

Yes, ATN may receive up to an additional $30 million from subsequent closings. According to ATN, these extra proceeds depend on achieving specified construction and operational milestones at tower sites not transferred at the initial closing over the next twelve months.

What is Adjusted EBITDA in ATN’s 2026 outlook and how is it defined?

Adjusted EBITDA is ATN’s non-GAAP measure used to assess core operating performance. According to ATN, it is operating income before depreciation, amortization, transaction-related charges, restructuring and reorganization expenses, certain losses on dispositions, and non-cash stock-based compensation, and is provided as supplemental guidance.