Wire 3 Secures $115 Million Credit Facility to Accelerate Fiber Network Expansion Across Florida
DAYTONA BEACH, Fla., Dec. 9, 2024 /PRNewswire/ -- Wire 3, a leading provider of high-speed fiber-optic internet, today announced the closing of a $115 million credit facility. The facility, led by Woodforest National Bank, CIBC, and JPMorgan, with participation from Axiom Bank, will support the continued expansion of Wire 3's state-of-the-art, 100% fiber-optic network across Florida.
This new credit facility complements over $300 million in equity raised by Wire 3 over the past 12 months, with Oak Hill Capital Partners spearheading the investment. Oak Hill is one of the nation's leading fiber investors, managing a portfolio of six companies across 33 states, collectively serving approximately 4 million locations nationwide.
"This credit facility augments our strong capital base and gives us additional liquidity to accelerate our mission of building a future-proof fiber-optic network across Central Florida," said Jeff Morse, CFO and co-founder of Wire 3. **"With the continued support of our lenders, we are well-positioned to extend our reach and connect more communities to the fast, reliable internet they need for the future. As we grow, we remain committed to delivering an exceptional customer experience."
Wire 3's network currently passes nearly 80,000 homes across 800 miles of fiber in Florida. The company is expanding into new markets, including Ocala, and continuing its buildout in Volusia, Marion, Brevard, and St. Lucie counties. With a growing workforce of more than 140 employees, Wire 3 is rapidly emerging as one of Florida's fastest-growing internet providers.
About Wire 3
Wire 3 Fiber is shaping the future of internet connectivity in Florida with its 100% fiber-optic, 10 Gigabit service. Designed to meet the needs of families, small businesses, and communities, Wire 3 is building a multi-gigabit network that offers fast, reliable, and symmetrical speeds. Focused on delivering a world-class customer experience, the company is powered by a dedicated team of Floridians who are passionate about providing cutting-edge connectivity.
The future is fast. The future is fiber.
For more information about Wire 3 and its services, please visit wire3.com.
Media Contact:
Jay Winn, Chief Revenue Officer
jwinn@wire3.com
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SOURCE Wire 3 LLC
