Equity financing to fuel Fiber-to-the-Home (FTTH) expansion in Florida markets including Volusia and Brevard Counties
December 7, 2021 - Daytona Beach, FL - Wire 3 Holdings, Inc., an all-fiber, Gigabit Internet service provider, announced today that it has received a significant equity investment on behalf of certain clients of Guggenheim Investments (“Guggenheim”), the global asset management and investment advisory division of Guggenheim Partners with more than $259 billion* in total assets across fixed income, equity, and alternative strategies. The financial commitment from Guggenheim will enable Wire 3 to accelerate its rollout of symmetrical, direct-to-home fiber optic network throughout Florida’s Volusia and Brevard counties in 2022.
“We’re excited to partner with Guggenheim and work together toward our vision of bringing fast and secure fiber optic internet service to the residents of Volusia and Brevard counties, providing residents the opportunity to choose next generation fiber optic Internet service,” said Jai Ramachandran, chief executive officer of Wire 3.
All of Wire 3’s customers will receive Wi-Fi equipment, no bandwidth caps, no contracts, and simplified pricing as part of the standard offering.
“We’re striving to not only deliver state-of-the-art technology, but to take a holistic view of internet service to simplify and streamline the overall experience for our customers,” said Jason Schreiber, chief technology officer of Wire 3.
Wire 3 service will become available in identified areas starting in 2022. Potential customers can find additional information and check for availability by registering their address at www.wire3.com/availability.
Bank Street Group LLC served as financial advisor and Woods Oviatt Gilman LLP served as legal advisor to Wire 3 in connection with the transaction.
About Wire 3
Wire 3 is dedicated to delivering fast, high bandwidth data services to our customers. Using fiber optic technology to ensure the fastest, most reliable internet connection possible, Wire 3 offers customizable bandwidth options to provide our customers with the flexibility and high-speed internet access they need, at an affordable price.
About Guggenheim Investments
Guggenheim Investments is the global asset management and investment advisory division of Guggenheim Partners with more than $259 billion* in total assets across fixed income, equity, and alternative strategies. We focus on the return and risk needs of insurance companies, corporate and public pension funds, sovereign wealth funds, endowments and foundations, wealth managers, and high-net-worth investors.
*As of 09/30/2021. The assets include leverage of $17.9 billion. Guggenheim Investments represents the following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Fund Management (Europe) Limited, Guggenheim Partners Japan Limited, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management.