Uniti Group is acquiring Southeast-based fiber provider Southern Light for about $700 million in cash and equity, a deal that will deepen the company’s reach into new wholesale and enterprise service opportunities.
The company will fund the Southern Light acquisition with cash on hand, proceeds from potential debt or equity financing and borrowing under its revolving credit facility. Permanent financing is expected to include approximately $250 million in debt and about $450 million in equity with proceeds to pay the cash consideration for Southern Light.
