NNI - Nelnet partners with SDC Capital Partners to propel ALLO's growth

Nelnet (NNI) inks agreements with SDC Capital Partners, in which funds managed by SDC will make a $197M equity investment in ALLO Communications for ~48% ownership stake in ALLO.The collaboration will provide ALLO with capital to continue expanding its all-fiber-optic network and service offerings into additional communities in the Midwest.Net proceeds, together with new third-party debt financing expected to be obtained by ALLO, will be used to fund ALLO's expansion and partially redeem outstanding senior preferred interests held by Nelnet.The investment by SDC is expected to close in October 2020, subject to certain closing conditions.

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Nelnet partners with SDC Capital Partners to propel ALLO's growth