PRESS RELEASE


 

Media Contact
Will Davis
Senior Vice President of Marketing and Investor Relations
Chief of Staff
(917) 519-6994
davisw@lumosnet.com

 

For immediate release

Wednesday, May 24, 2017
Lumos Networks Stockholders Approve Merger Agreement with EQT Infrastructure

WAYNESBORO, Va.--(BUSINESS WIRE)-- Lumos Networks Corp. (“Lumos Networks”) (NASDAQ: LMOS), a leading fiber-based service provider in the mid-Atlantic region, announced that, at the Lumos Networks Annual Meeting of Stockholders held today, Lumos Networks stockholders approved the merger agreement with EQT Infrastructure investment strategy (“EQT Infrastructure”).

Timothy G. Biltz, President and CEO of Lumos Networks, said, “We are pleased with the results of today’s meeting. We look forward to working with EQT Infrastructure as Lumos continues to innovate and expand its network, products and service offerings to our customers.”

More than 99% of the shares voted at the meeting were voted in favor of the merger, representing approximately 81% of Lumos Networks’ outstanding shares as of the record date for the meeting.

The transaction remains subject to customary closing conditions, including regulatory approvals, and is expected to be completed during the third quarter of 2017.

As previously announced, under the terms of the merger agreement, EQT Infrastructure will acquire all of Lumos Networks’ common stock. Lumos Networks stockholders of record will receive $18.00 in cash per share of Lumos Networks’ common stock.

About Lumos Networks

Lumos Networks is a leading fiber-based service provider in the Mid-Atlantic region serving Carrier, Enterprise and Data Center customers, offering end-to-end connectivity in 26 markets in Virginia, West Virginia, North Carolina, Pennsylvania, Maryland, Ohio and Kentucky. With a fiber network of 10,907 fiber route miles and 503,616 total fiber strand miles, Lumos Networks connects 1,306 unique Fiber to the Cell sites, 1,663 total FTTC connections, 2,125 on-net buildings and over 3,400 total on-net locations. The Company also connects 43 total data centers, including five data centers acquired from DC74, two acquired from Clarity Communications and seven company owned co-location facilities. In 2016, Lumos Networks generated over $123 million in Data revenue over our fiber network. Detailed information about Lumos Networks is available at www.lumosnetworks.com.

###