- Towerstream (OTCPK:TWER) is up 7.8% after another update on its growth initiatives today.
- The company says it plans to have added 170 new On-Net buildings in the second half, with a resulting 70% increase in the number of businesses able to purchase On-Net service.
- A 4M equity financing gives it more flexibility to pursue expansion, the company said. “More and more companies are recognizing the benefits of our network," says Chief Operating Officer Arthur Giftakis. "When we reached positive EBITDA in 2Q, it marked a turning point in the company’s development, and we expect continued improvements in our operating metrics going forward.”
- Towerstream's guidance earlier this month saw it expecting to add 100 buildings in Q4 to hit 437 total, and that September contracts were expected to total $780,000 in annualized revenue when they were installed.