The Company purchased 57 licenses in 33 markets for $52.5M at an average cost of $0.18 per MHz pop. Focused on regional footprints, markets acquired include southern Texas, Indiana and southern Georgia. The Portfolio is diversified with a mix of both mid-size and rural markets. Skylake purchased licenses in high-growth locations and avoided areas where prices tend to be low and where, historically, demand for spectrum on the secondary market is weak. The company will hold for appreciation and ultimately exit the portfolio in the future, likely selling to existing wireless operators. Skylake retained Alpina Capital, LLC, an advisory firm in the wireless spectrum industry, to advise the Company in strategic analysis and bidding.