Segra entered into an agreement to acquire North State Telecommunications Corporation (OTCPK:NORS.A) for approximately $180 million on December 9, 2019. Segra will pay $80 in cash per share for both class A and class B of North State’s common stock, which, inclusive of indebtedness, represents an enterprise value of approximately $240 million. The transaction is subject to customary regulatory approvals and other closing conditions. The merger agreement was unanimously approved by NorthState’s Board of Directors. As per filing on February 12, 2020, the shareholders of North State Telecommunications voted in favor of the transaction at the special meeting held on February 12, 2020. The transaction is anticipated to close in the second or third quarter of 2020. Wells Fargo Securities, LLC acted as financial advisor and GC Solutions and Nelson Mullins Riley & Scarborough LLP acted as legal advisors to NorthState. TD Securities acted as financial advisor and David Lieberman, Jim Cross, Brian Steinhardt, Jonathan Goldstein, David Rubinsky, Krista McManus, Michael Isb and Lori Lesser of Simpson Thacher & Bartlett LLP, Morgan, Lewis & Bockius LLP and Womble Bond Dickinson (US) LLP acted as legal advisors to Segra.