Vertical Bridge Holdings, LLC entered into a definitive agreement to acquire 595 Towers from United States Cellular Corporation (NYSE:USM) for approximately $160 million on December 4, 2014. United States will use the proceeds from the sale of these non-strategic assets to invest in other long-term investments. The transaction is expected to close in the first quarter of 2015. The first closing occurred in December 2014 and included the sale of 236 towers for $10.0 million and received $7.5 million in earnest money. Wells Fargo Securities, LLC and TD Securities (USA) LLC acted as financial advisors to U.S. Cellular.

Vertical Bridge Holdings, LLC completed the acquisition of 595 Towers from United States Cellular Corporation (NYSE:USM) in January 2015. As a part of closing, United States Cellular received additional $141.5 million.