Uniti Announces Dark Fiber Sale to Leading Network Infrastructure Provider

LITTLE ROCK, Ark., Jan. 31, 2022 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti”) (Nasdaq: UNIT) announced today that it has been selected by a leading network infrastructure provider to deliver high-capacity dark fiber connectivity to several key markets across the country. This custom-designed dark fiber solution provides our customer with better control and performance of its network and will include eight diverse segments spanning almost 2,000 route miles of metro and long-haul fiber, while connecting premier tier 1 and tier 2 markets from the Midwest to the Mid-Atlantic.

“Uniti has partnered with this long-time customer in the past, and I’m thrilled to be able to do so again, this time, on a strategic network project that supports their rapid business growth and expansion," said Greg Ortyl, President of Wholesale & Strategic Accounts. "This long-term agreement marks another significant milestone in Uniti’s recent series of large-scale customer contracts and is a noteworthy illustration of how our scalable dark fiber solutions help our customers transform their businesses, as well as how Uniti continues to leverage its national fiber footprint for additional lease-up opportunities, further reinforcing our network growth strategy.”

Aligning with its continued commitment of driving lease-up on its 126,000 fiber route mile national network, Uniti will also install five new regional colocation facilities along the routes as part of this project, allowing for incremental colocation customers. With twelve new data center connections in those same Midwest and Mid-Atlantic regions, Uniti will add strategic on-net locations, providing more diversity and connectivity choices for its customers.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended from time to time. Those forward-looking statements include all statements that are not historical statements of fact.

Words such as "anticipate(s)," "expect(s)," "intend(s)," “estimate(s),” “foresee(s),” "plan(s)," "believe(s)," "may," "will," "would," "could," "should," "seek(s)" and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. Although we believe that the assumptions underlying the forward-looking statements are reasonable, we can give no assurance that our expectations will be attained. Factors which could materially alter our expectations include, but are not limited to, the future prospects of Windstream, our largest customer; the ability and willingness of our customers to meet and/or perform their obligations under any contractual arrangements entered into with us, including master lease arrangements; the ability of our customers to comply with laws, rules and regulations in the operation of the assets we lease to them; the ability and willingness of our customers to renew their leases with us upon their expiration, and the ability to reposition our properties on the same or better terms in the event of nonrenewal or in the event we replace an existing tenant; the adverse impact of litigation affecting us or our customers; our ability to renew, extend or obtain contracts with significant customers (including customers of the businesses we acquire); the availability of and our ability to identify suitable acquisition opportunities and our ability to acquire and lease the respective properties on favorable terms; the risk that we fail to fully realize the potential benefits of acquisitions or have difficulty integrating acquired companies; our ability to generate sufficient cash flows to service our outstanding indebtedness and fund our capital funding commitments; our ability to access debt and equity capital markets; the impact on our business or the business of our customers as a result of credit rating downgrades and fluctuating interest rates; our ability to retain our key management personnel; our ability to qualify or maintain our status as a real estate investment trust (“REIT”); changes in the U.S. tax law and other state, federal or local laws, whether or not specific to REITs; covenants in our debt agreements that may limit our operational flexibility; our expectations regarding the effect of the COVID-19 pandemic on our results of operations and financial condition; other risks inherent in the communications industry and in the ownership of communications distribution systems, including potential liability relating to environmental matters and illiquidity of real estate investments; and additional factors described in our reports filed with the U.S. Securities and Exchange Commission.

Uniti expressly disclaims any obligation to release publicly any updates or revisions to any of the forward-looking statements set forth in this press release to reflect any change in its expectations or any change in events, conditions or circumstances on which any statement is based.

ABOUT UNITI

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure and is a leading provider of fiber and other wireless solutions for the communications industry. As of September 30, 2021, Uniti owns approximately 126,000 fiber route miles, 7.5 million fiber strand miles, and other communications real estate throughout the United States. Additional information about Uniti can be found on its website at www.uniti.com.

SALES CONTACTS:

Ron Mudry, 727-421-0388
SVP, Chief Revenue Officer
ron.mudry@uniti.com

Greg Ortyl, 314-749-2478
President, Wholesale & Strategic Accounts
greg.ortyl@uniti.com

INVESTOR and MEDIA CONTACTS:

Paul Bullington, 251-662-1512
Senior Vice President, Chief Financial Officer & Treasurer
paul.bullington@uniti.com

Bill DiTullio, 501-850-0872
Vice President, Finance & Investor Relations
bill.ditullio@uniti.com

Source: Uniti Group Inc.

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Uniti Group, Inc.
Symbol: UNIT
CIK: 1620280
Exchange: NASDAQ
Founded: 2014 (10 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Infrastructure

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Last updated: 2024-07-05 12:57:01 PST