Aspire Fiber Closes New Credit Facility and Increases Equity Commitments to Accelerate Fiber Buildout in Southern California

$80 million credit facility led by Third Coast Bank and CIBC supports expansion into Santa Clarita following successful Moorpark launch. Arenova Capital increases equity commitment.

MOORPARK, Calif., Oct. 27, 2026 /PRNewswire/ -- Aspire Fiber, a 100% fiber-optic internet provider serving Southern California, today announced the closing of an $80 million Senior Secured Credit Facility. The facility, led by Third Coast Bank and CIBC, will support the continued expansion of Aspire's 10 Gigabit-capable fiber network across Southern California markets and beyond.

Aspire is also pleased to announce that its equity partner, Arenova Capital, has increased its equity commitment to $75 million to accelerate the expansion of Aspire Fiber's services across Southern California. Arenova Capital partnered with Aspire's founding team in February 2026 to establish Aspire Fiber as Southern California's local internet service provider, bringing next-generation fiber-optic connectivity to communities across the region.

Stephen Weatherford, Founder & CEO, Aspire Fiber said of the new commitments, "We are deeply excited about the additional capital and partnership from Arenova, Third Coast Bank, and CIBC. As a local company, we see first-hand the underinvestment in 100% fiber infrastructure in Southern California and we see huge opportunities to use the capital to accelerate our vision."

"Partnering with Stephen Weatherford and the Aspire Fiber team has been incredibly rewarding and the tremendous progress to date has given us further conviction behind their vision to bring future-proof 100% fiber internet to the many underserved markets across Southern California," said David Li, Managing Partner of Arenova Capital.

"We are pleased to support Aspire Fiber as it expands its network and brings high-quality fiber connectivity to more communities across Southern California," said Tim Sackson, Executive Vice President, Corporate Banking at Third Coast Bank. "Aspire has a strong vision for growth, and we value the opportunity to provide financing that supports the company's continued investment and expansion."

Aspire Fiber has launched services in Moorpark, CA and Santa Clarita, CA with additional California markets in its expansion pipeline. Aspire Fiber is committed to delivering future-proof, 100% fiber internet at affordable and competitive prices. Aspire aims to empower communities by building the next generation of smart cities, fostering innovation, and connecting people to the future of technology.

About Aspire Fiber

Aspire Fiber is bringing next-generation connectivity to Southern California with its 100% fiber-optic network, capable of 10 Gbps symmetrical speeds. Built underground and designed to serve families, small businesses, and communities for decades to come, Aspire delivers fast, reliable internet backed by a local team focused on exceptional customer service. Aspire currently serves Moorpark, CA and is expanding into Santa Clarita, CA. For more information, visit https://www.aspirefiber.com/.

About Arenova Capital

Arenova Capital is a principal investment firm focused on founder-owned and founder-led companies in the middle market. Arenova seeks to catalyze growth in technology-enabled, media and communications companies through thoughtful partnership, support and investment, with the goal of building enduring industry leaders. Arenova Capital is based in Dallas, TX and was founded in 2022.

About Third Coast Bank

Third Coast Bancshares, Inc. is a commercially focused, Texas-based bank holding company operating primarily in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets through its wholly owned subsidiary, Third Coast Bank. Founded in 2008 in Humble, Texas, Third Coast Bank conducts banking operations through 20 branches encompassing the four largest metropolitan areas in Texas. Please visit https://www.thirdcoast.bank for more information.

SOURCE Aspire Fiber