Xplore completes private financing arrangement

Xplore announced Monday that it has closed a recapitalization arrangement, first announced in June, that will see it secure enough money to continue its pursuit of covering more than 400,000 homes with direct fibre by 2027. While the rural broadband provider does not disclose how much it secured from private lenders, it said it altogether has $1.6 billion of new funding if you include government subsidies. “This is a significant milestone for Xplore that will provide meaningful benefits to our customers,” Xplore’s Executive Chairman Fran Shammo said in a press release. “We are grateful for the support we have received...