Tuesday Roundup: DataBank, Airspan, Ascend Wireless, Telesat

A bit of data center real estate and three financial moves:

DataBank has bought its own data center out in Las Vegas. They have acquired 7185 Pollock Drive, home of their LAS1 data center, which they had been leasing until now. LAS1 offers 36,800 square feet and 3.55MW of critical IT load power, totals that were recently expanded. The purchase further solidifies DataBank’s position within the Las Vegas market by bringing the real estate itself in-house.

After a strategic review process, Airspan is handing the keys to its creditors. The wireless network solutions company has entered into a restructuring agreement in which Fortress Investment Group and several other stakeholders will inject $95M in new equity financing plus a commitment for $53M in DIP financing for operations that will eliminate the company’s existing debt. A prepackaged trip through Chapter 11 will follow over the next month or two. Existing shareholders will share $450K in cash or warrants.

The southeastern wireless communications contractor Ascend Wireless has new ownership. Sovereign Capital, which is a private equity firm out of North Carolina, has announced the purchase of the company as it makes a bet on ongoing mobile data traffic growth. The transaction will enable Ascend Wireless to expand its platform and gain a bigger piece of the 5G buildout pie. Hyde Park Capital advised Ascend Wireless on the deal.

And the satellite operator Telesat has tapped into some government funding to enable its LEO buildout plans. The Government of Canada is prepared to invest C$2.14B via a loan to the company’s Telesat LEO subsidiary. In addition to the loan, the GoC will get warrants for 10% of the common shares of the subsidiary as well.

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Categories: Datacenter · Engineering & Construction · Financials · satellite · Wireless