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Well Sandpaints the July 26 deadline is fast approaching and nothing but silence from what I can tell. Do you think everything has been completed on the details of the settlement agreement. Reference post 4171 and 4175.
Sandpaints...
You said in your post 4053.."And again June 26th is the ultimate deadline I see where the FCC process has to complete all the details of the settlement agreement or the FCC calls the whole thing off and takes back the spectrum etc. to square one. I think we are likely defined as having an interest if things are settled prior to the deadline."
but then I remember way back in January this post 3064 from prkvw75... "Sandpaints - the "closing date" means the consummation date of the Transaction (AT&T buying Fibertower 2/17) per the Settlement Agreement.
Also, per the Settlement Agreement - the transaction needs to be consummated within 180 days of the Effective date or everything is returned to "the status quo ante" and the settlement agreement becomes null and void.
so the way I read this:
1) they have 180 days to consummate the transaction
2) if they don't consummate the transaction, everything goes back to the way it was - licenses, remand proceeding, etc
3) if they do consummate the transaction, the Chapter 11 case needs to be closed NO LATER than 3 days from the Closing Date. Which could be 6 months from now.
So for all this to happen, the TRANSACTION still needs to be consummated. Hopefully in a "respectful manner"
Seems if prkvw75 is correct the consummation would have to be completed somewhere around July 26 instead of June 26. Thoughts?
To be fair I am not sure helloyah did post the transcript. The one that posted the transcript only has one post and account created today. The real helloyah has 107 posts started in 2012. Not sure how they can allow 2 accounts with the same name.
Where did this statement come from? An article/document or something you wrote. Don't believe I have seen anything stating so directly about AT&T formulating a solution to satisfy previous shareholders. As far as who are the previous Fibertower shareholders I would have to believe shareholders of the old Fibertower.
I guess the lingering question is this and which others here are struggling with. Are these 479 licenses being return to the FiberTower Corporation(private) or to the "Debtors' pre-Effective Date Estates" which seems that it should be. Can that be confirmed for sure? If the 88 licenses went for 207 million then the ratio suggest that the remaining 479 should be valued at 1.1 billion which falls pretty much in line with what Sandpaints was indicating.
Okay. So let me get this straight. AT&T* has closed its acquisition of FiberTower Corporation which is a privately held provider of spectrum and fixed wireless services, ie the new Fibertower. They had 88 licenses free and clear and there were 650 licenses in dispute. According to court documents...
(3)Pending licenses shall remain property of Debtors' pre-Effective Date Estates and subject to the continuing jurisdiction of the Bankruptcy Court pending the FCC's determination of the transfer application with respect there to.
So the FCC has now determined that they will retain 121 licenses in the 24GHz range and 50 in the 39GHz range. And now AT&T supposedly will get from Fibertower the remaining 479 licenses in the 39GHz range.
So was the court statement above essentially saying licenses will remain property of Debtors' pre-Effective Date Estates until FCC makes a determination at which time there will no longer be any jurisdiction and whatever FCC decides will be the end of BK case? Or is the court case still open until 2019?
If so it does appear this is it unless some lawsuit is filed. Hope I am wrong.
Works out well for anyone that had their shares in a Roth IRA but of course they were unable to declare a tax loss.
Please clarify...You said shares will show on your Form 1099 tax statement this year when that arrives via the post office. I assume you are talking about the 1099 that will be issued for 2018...a year from now. Wouldn't think anything would show up in the 2017 form since FCC hasn't approved the deal. Or am I misunderstanding what you are saying?
Guess I was just referring to the statement that has been posted several times referring to court documents...
(3)Pending licenses shall remain property of Debtors' pre-Effective Date Estates and subject to the continuing jurisdiction of the Bankruptcy Court pending the FCC's determination of the transfer application with respect there to.
No, I really don't have the knowledge about bankruptcy. Wasn't criticizing you but just seemed that most agreed we had some hope of redeeming our shares and profiting depending on the final outcome of the BK case and perhaps even more hope with AT&T trying to acquire the licenses. Didn't mean to ruffle feathers but all of a sudden seems like things have become almost hopeless unless AT&T or FCC feels sorry for us and give us a pittance as apparently we have no standing before the court. Please excuse my ignorance of the whole matter and I will crawl back under my rock.
Then why the thousands of posts over months and months regarding possibility of shareholders receiving something from all of this. If shareholders were eliminated then this whole thread should have been mute long ago. What a waste of time and energy. It seems that it kept being pushed that old bondholders and shareholders were still in the mix until the final judgement of the BK court.
Well, it is the end of summer. Are we about to do a happy dance or play taps?
Seven days without comments makes one weak! Is the consensus that we should hear of the details of the AT&T deal in the next month or two?
Can AT&T shut out any other bidders. Would it be possible for another suitor to come in and up the bid and say we will take care of all the debtholders, shareholders, etc...essentially tying up all the loose ends, eliminating all things that could hold up the deal and move rapidly with 5G. If the spectrum is as valuable as it seems to be then it would seem like a no-brainer.
FCC was responsible for Fibertower having to go into BK by pulling the licenses and causing shares to be terminated. If licenses are reinstated seems like FCC should be obligated to stand up for shareholders. Have also been wondering if indeed shareholders benefit from this situation could it be in the form of shares with AT&T. I know first things first but still just wondering.
"On January 25, 2017, AT&T Mobility, FiberTower, and all of its stockholders entered into a stock purchase agreement pursuant to which AT&T Mobility agreed to acquire all of the outstanding stock of FiberTower Corporation, after which FiberTower Corporation will become a wholly-owned subsidiary of AT&T Mobility."
Are they talking about stockholders in Fibertower, AT&T, or both. Since the new Fibertower is private they have no stockholders. So where does that leave us? They still have to settle the conditions of the BK court, don't they? ie "(3)Pending licenses shall remain property of Debtors' pre-Effective Date Estates and subject to the continuing jurisdiction of the Bankruptcy Court pending the FCC's determination of the transfer application with respect there to."
Did not see that particular post on Stocktwits but did see a few others. One stating FTWR will sell 16 licenses for 150-200 million and another stating "they bought 10 percent of the Fiber t. spectrum" and another "Fiber Tower sold 10% not in litigation". Who knows if these are accurate. You would have to assume ATT wants the rest if licenses are returned to FTWR. If ATT willing to pay that ball park figure for 10 percent of spectrum then it looks promising for shareholder.
Anybody have thoughts on why ATT would not disclose the offer for FBBT? It sounds like it is a done deal so it's not like they are trying to keep it a secret from others that might be interested. At what point will they have to disclose the price?
So if Verizon paid 1.8 billion for 188 billion MHz-POPs and Fibertower has 8.4 billion MHz POPs does that equate to a value of around 80 million for Fibertowers spectrum? Or does that not include the spectrum that is wrapped up in the BK proceedings?
Was hoping there might be a bidding war over the spectrum but doesn't appear that will happen. Fear they might settle for enough money to pay off bondholders and other incidentals and leave stockholders out of the picture. Don't know how BK judge fits into this case now. Any thoughts?
https://investoralmanac.com/2017/01/19/kerrisdale-short-straight-path-communications-hope-is-the-only-real-asset-strp-has-left/
In the above link...
Spectrum Isn’t Worth Much
Spectrum Like STRP’s Is Abundant
FCC rules now mandate that devices operating anywhere from 37 to 40 must support the entire band, thereby ensuring that “incumbent” spectrum like STRP has no special advantage.
Doesn't sound particularly hopeful for FBBT but maybe I am misunderstanding what is being said.
Should a company wish to acquire the Fibertower licenses, how could they do so before the bankruptcy case in addressed in 2019. Can FBBT simply come accept the offer, pay off its debts, and abide by the judges ruling regarding shareholders. Guess I am just trying to see what the process might look like whether someone acquires FBBT or should they come out of chapter 11 or whatever.
Say condoe3, you seem to be keeping up on this 5G quite a bit. What is your gut feeling on how all this will impact FBBT and how things will transpire with their spectrum and the court case. Do you really think any action will occur before 2019.
The 10k was issued late Thursday. Sounds like their install rate is a little slower than forecast. 700 units so far and another 300 by end of year is the projection now.
And Fibertower 39GHz sits on the shelf collecting cobwebs.
What will have to happen for a company wanting Fibertowers spectrum to actually acquire it? It is tied up in court until 2019. It seems like the only way is for the FCC to come to its senses and returns the spectrum to Fibertower which would give Fibertower the right to sell or be acquired. And as said before the shareholders have a stake in this. Does anyone have a clearer picture of the process that would have to occur? Or are there other options?
This board has sure gone quiet. Have people found another board to post to?
Hopefully the judge/court will follow through on that and that it will be in the stockholders favor. I guess my main question was what event precipitated the change from FTWRQ to FBBT? If we only knew what was going on behind the scenes.
Okay. Anyone know what is going on with the new stock symbol? FTWRQ now FBBT. Are they intending to take the new Fibertower public? Have not been able to find any other info on Internet but stock symbol is now showing up on Fidelity and other stock sites. Have the old stockholders been left out in the cold?