LAKE CHARLES, Louisiana, United States—US Unwired signed a definitive agreement to acquire fellow Sprint PCS affiliate Georgia PCS Management for approximately US$90.4 million.
Under terms of the agreement, US Unwired will issue 5.5 million shares of Class A common stock and will also repay up to US$54.75 million of Georgia PCS’ debt. Concurrent with the transaction, US Unwired will add a US$40 million term loan B to its existing senior credit facility.
Georgia currently serves 36,600 subscribers in the Atlanta area and would add 1.4 million potential customers to US Unwired’s current 16.2 million covered pops.
