DALLAS-UniSite Inc. announced it has closed the private placement funding it began in August, reportedly surpassing its goal of raising $50 million in financing.
“After very enthusiastic receptions from venture capitalists and high-yield portfolio managers during the road show, we closed in December on $63 million,” said Terry Pavek, vice president of finance for UniSite.
Bob Levitt, managing director of Credit Suisse First Boston Corp., which led the investment offering efforts, credited UniSite’s management team for presenting a “credible” financial plan. The funding is one of the largest private placements in the new tower industry, the company said.
The company signed a bulk site agreement with Omnipoint Communications Inc. in October to build more than 300 sites nationwide, with construction scheduled to begin sometime this quarter.
UniSite was founded in 1994 to provide shared radio sites for the wireless industry. The company currently manages over 5,000 properties, it said.
