WOODLAND PARK, N.J., Feb. 21, 2019
/PRNewswire/ -- pdvWireless, Inc., (the "Company"), today
announced that the Federal Communications Commission ("FCC")
intends to discuss a draft Notice of Proposed Rulemaking ("NPRM")
for consideration by the Commission during the FCC's Open Meeting
taking place on Friday, March 15, 2019 from 10:30 am to 12:30 pm EDT. The NPRM is related to
the previously issued Notice of Inquiry ("NOI") addressing use of
the Part 90 900 MHz land mobile band. Information related to the
Open Meeting can be found via the following link
https://www.fcc.gov/news-events/events/2019/03/march-2019-open-commission-meeting.
"We thank Chairman Pai for his continued commitment to freeing
up important 900 MHz spectrum for broadband use. By scheduling an
NPRM for consideration at the Commission's March Open Meeting, the
Chairman has taken another important step in executing the FCC's
FAST Plan. We look forward to reviewing the contents and
providing feedback on the Commission's proposal and to working with
the Chairman and Commissioners to accelerate a broadband solution
to match the incredible interest we are seeing from utilities and
other enterprises. The launch of the Utilities Broadband
Alliance as well as our recently-granted 'High Impact Status' collaboration with the Department of
Energy and its National Renewable Energy Lab confirm our belief
that private LTE broadband can drive a host of technology, cyber
and resiliency benefits to our nation's grid," said Morgan E. O'Brien, CEO of pdvWireless.
The FCC's Open Commission Meeting will be made publicly
available via a live webcasting. A replay of the stream will
also be made available.
About pdvWireless, Inc.
pdvWireless, Inc. (NASDAQ: PDVW) is focused on developing and
offering solutions that leverage its spectrum assets for the
deployment of next generation private broadband networks designed
to meet the needs of critical infrastructure and enterprise
customers. We are the largest holder of licensed nationwide
spectrum in the 900 MHz spectrum band throughout the contiguous
United States, plus Hawaii, Alaska and Puerto
Rico. On average, we hold approximately 60% of the channels
in the Part 90 portion of the 900 MHz band in the top 20
metropolitan market areas in the United
States. We are currently pursuing a regulatory proceeding at
the Federal Communications Commission that seeks to modernize and
realign a portion of the 900 MHz band to increase its usability and
capacity and accommodate the future deployment of broadband
technologies and services. At the same time, we are expecting to
enable private broadband network solutions, leveraging our
spectrum, that address the growing and unmet needs of our targeted
critical infrastructure and enterprise customers. Our Chairman,
Brian McAuley, and CEO, Morgan O'Brien, were the co-founders of Nextel
Communications and have over 60 years of combined experience in
telecom operations and successfully developing regulatory driven
spectrum initiatives to address the unmet wireless communications
needs of businesses. pdvWireless is headquartered in Woodland Park,
New Jersey.
Forward-Looking Statements
Any statements contained in this press release that do not
describe historical facts are forward-looking statements as defined
under the Federal securities laws. These forward-looking statements
include statements regarding the regulatory status, timing and
results of the Company's initiatives and related activities
involving the FCC and the Company's spectrum and other business
initiatives and opportunities. Any forward-looking statements
contained herein are based on the Company's current expectations
but are subject to a number of risks and uncertainties that could
cause its actual future results to differ materially from its
current expectations or those implied by the forward-looking
statements. These risks and uncertainties include, but are not
limited to: (i) the Company's spectrum initiatives, including its
FCC proceedings aimed at modernizing and realigning the 900 MHz
spectrum band to increase its usability and capacity, which
contemplates the utilization of such spectrum for the future
deployment of broadband technologies and services, may not be
successful on a timely basis or at all, and may continue to require
significant time and attention from its senior management team and
the expenditure of significant resources; (ii) the Company may not
be successful in identifying, developing and commercializing
network and mobile communication solutions utilizing its current
and future spectrum and commercially available technologies; (iii)
the Company has had net losses each year since its inception and
may not achieve or maintain profitability in the future; (iv) the
Company's ability to control the costs and to achieve the expected
operational benefits and long- term cost savings of its
restructuring plans, including the transfer of its TeamConnect and
pdvConnect businesses; (v) the wireless communications
industry is highly competitive and the Company may not be able to
compete successfully; and (vi) government regulation could
adversely affect the Company's business and prospects. These and
other factors that may affect the Company's future results of
operations are identified and described in more detail in its
filings with the Securities and Exchange Commission (the "SEC"),
including its Annual Report on Form 10-K/A for the fiscal year
ended March 31, 2018, filed with the
SEC on August 9, 2018. Modifications
to those factors and/or additional factors are described in the
Company's Quarterly Report on Form 10-Q for the quarter ended
December 31, 2018, filed with the SEC
on February 8, 2019. You should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. Except as required
by applicable law, the Company does not intend to update any of the
forward-looking statements to conform these statements to actual
results, later events or circumstances or to reflect the occurrence
of unanticipated events.
Contacts
Natasha Vecchiarelli
Director of Corporate Communications
pdvWireless, Inc.
973-531-4397
nvecchiarelli@pdvwireless.com
Phil Sgro
Raffetto Herman Strategic Communications
202-585-0210
psgro@rhstrategic.com
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SOURCE pdvWireless