Core Viewpoint - ATN International, Inc. announced the divestiture of its Tower Portfolio, consisting of 214 towers in the Southwestern U.S., to Everest Infrastructure Partners for up to $297 million in cash, aimed at enhancing financial flexibility and long-term value creation for shareholders [1][3]. Financial Details - The transaction is expected to generate gross proceeds of approximately $250 to $270 million at the initial closing, with an additional $27 to $47 million anticipated from subsequent closings based on operational milestones [3][4]. - Estimated taxes, payments to minority investors, and transaction-related expenses are projected to total approximately 25% to 30% of the gross proceeds [2]. Impact on Financials - Upon full completion of the transaction, the estimated twelve-month impact on consolidated revenue, operating income, and EBITDA is expected to be reductions of approximately $5 to $7 million, $4 to $6 million, and $10 to $13 million, respectively [4][14][15]. Strategic Objectives - The company aims to utilize the proceeds from the transaction to reduce debt, invest in existing operations, and pursue select growth opportunities, reinforcing its commitment to sustainable, long-term value creation [3][4]. Company Background - ATN International, Inc. is a provider of digital infrastructure and communications services, focusing on rural and remote markets, and operates both in the U.S. and internationally [8][9]. - Everest Infrastructure Partners is recognized as one of the largest and fastest-growing wireless tower companies, with significant capital commitments since its inception in 2015 [7].

Core Insights - TerrAscend Corp. has decided to exit the Michigan market as part of a strategic review, selling all Michigan assets including cultivation and processing facilities, retail dispensaries, and real estate [1][2][3] - The net proceeds from these divestitures will be utilized to pay down existing company debt, enhancing the financial profile of TerrAscend [1][2] - The exit from Michigan is expected to be substantially completed in the second half of 2025, with the Michigan operations reported as discontinued starting from Q2 2025 [1][2] Financial Impact - Following the Michigan exit, TerrAscend will operate 19 dispensaries and 4 cultivation and processing facilities across five states, which is anticipated to improve key financial metrics such as gross margin, adjusted EBITDA, and cash flow conversion [2][3] - The company expects a reduction of approximately 21% of its overall workforce, which consists of about 1,200 employees, primarily by the end of Q3 2025 [3] Strategic Focus - The strategic decision to exit Michigan is aimed at reallocating resources to core markets in the northeastern U.S., specifically New Jersey, Maryland, Pennsylvania, and Ohio, to unlock value for the company and its shareholders [3] - The company believes that concentrating efforts in these core markets will lead to stronger financial performance, improved margins, and operational efficiencies [3] Company Overview - TerrAscend is a leading cannabis company listed on the TSX, with operations across North America, including vertically integrated operations in several states and retail operations in Canada [4] - The company operates various dispensary brands and has a portfolio of synergistic businesses and brands, providing a wide selection of cannabis products for both medical and adult-use markets [4]