October 1, 2007
Optasite secures $85M in new funding
By Cory Hopkins
Cell phone and telecom tower developer and owner Optasite Inc., based in Westborough, has secured $85 million in new funding, bringing the company's total financing raised to date to more than $330 million, the company said.
With the new funding, Optasite also announced it has entered into agreements to acquire a further 210 telecommunications towers, bringing the total number of Optasite-managed towers to 511 in 29 states and the U.S. Virgin Islands.
The funding included a Series D round of equity led by Citi and a $50 million subordinated debt facility from Morgan Stanley. Columbia Capital, an investor in the company's first three equity financings, also participated in the Series D round, according to Optasite.
With the new funding, Optasite also announced it has entered into agreements to acquire a further 210 telecommunications towers, bringing the total number of Optasite-managed towers to 511 in 29 states and the U.S. Virgin Islands.
The funding included a Series D round of equity led by Citi and a $50 million subordinated debt facility from Morgan Stanley. Columbia Capital, an investor in the company's first three equity financings, also participated in the Series D round, according to Optasite.
WBJ Web Partners
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