WOODLAND PARK, N.J., May 22, 2019 /PRNewswire/ -- pdvWireless, Inc. (NASDAQ: PDVW) today announced highlights from the Investor Day event it hosted on Tuesday, May 21, 2019. The event featured presentations from the company's management team, including Morgan E. O'Brien, Chief Executive Officer, Rob Schwartz, President and Chief Operating Officer, and Tim Gray, Chief Financial Officer. Topics covered in the presentation included: a regulatory update; an overview of the company's spectrum assets; the company's market opportunities with critical infrastructure and enterprise customers; and the company's proposed business model and financial projections. A replay of the Investor Day webcast as well as materials related to the presentation are accessible via the company's website at https://www.pdvwireless.com/investors/.
About pdvWireless, Inc.
pdvWireless, Inc. is focused on developing and commercializing its spectrum assets to enable its targeted critical infrastructure and enterprise customers to deploy next generation private broadband networks, technologies and solutions. 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 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 networks, technologies and solutions. At the same time, we are pursuing business opportunities with our targeted critical infrastructure and enterprise customers, leveraging our spectrum, to address their growing and unmet needs. 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.
Any statements contained in this press release or in the Investor Day webcast or materials that do not describe historical facts are forward-looking statements as defined under the Federal securities laws. These forward-looking statements include, but are not limited to, statements regarding: (i) the Federal Communications Commission (the "FCC") will issue a Report and Order that supports the deployment of broadband LTE networks, technologies and solutions in the 900 MHz band on a timely and economically viable basis; (ii) our ability to satisfy the FCC's future requirements to qualify for broadband licenses; (iii) our capital requirements and the timing and costs of our retuning and spectrum acquisition activities; (iv) the demand by, and our potential contractual terms with, electric utilities and other critical infrastructure providers for the lease of our spectrum assets; (v) the valuation of our spectrum assets; and (vi) our business model, including the timing and amount of our contract revenues, operating costs and gross margins. Any such forward-looking statements are based on our current expectations and are subject to a number of risks and uncertainties that could cause our actual future results to differ materially from our current expectations or those implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: (i) our FCC initiatives may not be successful on a timely basis or at all, and will continue to require significant time and attention from our senior management team and our expenditure of significant resources; (ii) any final Report and Order issued by the FCC may differ, possibly significantly, from the Notice of Proposed Rulemaking; (iii) even if our FCC initiatives are successful, we may not be successful in commercializing our spectrum assets to our targeted customers and markets; (iv) we have no operating history with our proposed business plan, which makes it difficult to evaluate our prospects and future financial results, and our business activities, strategic approaches and plans may not be successful; (v) we will need to secure additional financing to support our long-term business plans; (vi) we may not be able to correctly estimate our operating expenses or future revenues; (vii) many of the third parties who have objected to our FCC initiatives, or with whom we competes against, have more resources, and greater political and regulatory influence; (viii) the value of our spectrum assets may fluctuate significantly based on supply and demand, as well as technical and regulatory changes; and (ix) spectrum is a limited resource, and we may not be able to obtain sufficient contiguous spectrum to support our spectrum initiatives or our planned business operations and future growth. These and other factors that may affect our future results of operations are identified and described in more detail in our filings with the Securities and Exchange Commission (the "SEC"), including our Annual Report on Form 10-K for the fiscal year ended March 31, 2019, filed with the SEC on May 20, 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, we do 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.
Director of Corporate Communications