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Alaska Communications Stockholders Approve Acquisition by ATN InternationalBEVERLY, Mass., March 15, 2021 (GLOBE NEWSWIRE) -- ATN International, Inc. (NASDAQ: ATNI) (“ATN”) announced today that, based on preliminary voting results of a special meeting of stockholders of Alaska Communications Systems Group, Inc. (NASDAQ: ALSK) (“Alaska Communications”) held on Friday, March 12, 2021, Alaska Communication’s stockholders have approved the pending acquisition by ATN of all of Alaska Communications shares. ATN and financial partner Freedom 3 Capital, LLC (“F3C”) previously announced the proposed transaction in January 2021 to acquire all the outstanding shares of Alaska Communications common stock for $3.40 per share in cash. The transaction will result in Alaska Communications becoming a privately held company, with ATN to own a majority ownership stake. “Alaska Communications is an excellent fit for ATN. We look forward to entering this market with a provider that has a great reputation and working together with the Alaska Communications team to drive further growth,” noted Michael Prior, Chief Executive Officer. The transaction remains subject to regulatory approvals from the Federal Communications Commission and Regulatory Commission of Alaska and other customary closing conditions and is expected to close in the third quarter of 2021. About ATN About Freedom 3 Capital About Alaska Communications Cautionary Language Concerning Forward Looking Statements This press release contains forward-looking statements relating to, among other matters, ATN’s future financial performance and results of operations. These forward-looking statements are based on estimates, projections, beliefs, and assumptions and are not guarantees of future events or results. Actual future events and results could differ materially from the events and results indicated in these statements as a result of many factors, including, among others, (i) the risk that the transaction may not be completed in a timely manner or at all, (ii) the failure to satisfy the conditions to the consummation of the transaction, including the receipt of certain governmental and regulatory approvals, (iii) the failure to obtain the necessary financing to consummate the transaction, (iv) the occurrence of any event, change or other circumstance that could give rise to the termination of the transaction, (v) the effect of the announcement or pendency of the transaction on Alaska Communications business relationships, operating results, and business generally, (vi) the outcome of any legal proceedings that may be instituted against Alaska Communications or ATN related to the transaction; (vii) the performance of the acquired business; (viii) ATN’s ability to operate in a new market; (ix) ATN’s ability to integrate the new business into its current operations; (x) increased competition; and (xi) changes in laws and government regulations affecting the acquired business. These and other additional factors that may cause actual future events and results to differ materially from the events and results indicated in the forward-looking statements above are set forth more fully under Item 1A “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 1, 2021 and the other reports we file from time to time with the SEC. The Company undertakes no obligation and has no intention to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors that may affect such forward-looking statements, except as required by law. Contact: Justin D. Benincasa
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