ADTRAN Holdings, Inc. - ADTN STOCK NEWS

ADTRAN, Inc. (NASDAQ:ADTN) has partnered with FiberRise and KGPCo to provide a comprehensive solution for electric utilities to establish fiber broadband networks. This unique collaboration guarantees support for utilities to fund, build, and operate new fiber systems in under 10 months. This initiative aligns with the recent $65 billion broadband investment from the U.S. Infrastructure Investment and Jobs Act, aiding utilities in customer growth and operational efficiency. The partnership aims to close the Digital Divide, enhancing broadband access in rural areas while promoting grid modernization.

ADTRAN has received recommendations from ADVA's management and supervisory boards to accept the exchange offer for a proposed business combination between the two companies. Key antitrust approvals have been obtained, with the offer period in Germany running from November 12, 2021, to January 12, 2022. A special shareholder meeting has been scheduled for January 6, 2022. ADTRAN’s CEO, Tom Stanton, stated that customer feedback has been positive, and the merger's completion timeline remains on track.

ADTRAN, Inc. (NASDAQ: ADTN) announced a special meeting on January 6, 2022, for stockholders to vote on the Business Combination Agreement with Acorn HoldCo and ADVA Optical Networking SE. This merger will allow ADTRAN and ADVA to become subsidiaries of Acorn HoldCo. The virtual meeting starts at 10:30 AM CST, and stockholders of record as of November 16, 2021 are eligible to vote. Shareholders can vote online, via phone, or during the meeting itself. Further information about the merger can be accessed through ADTRAN's website.

Acorn HoldCo, a subsidiary of ADTRAN, has released the Offer Document for a voluntary takeover of ADVA Optical Networking, proposing an exchange of ADVA shares for Acorn HoldCo shares at a ratio of 0.8244. The combined entity will focus on delivering end-to-end fiber networking solutions. Acceptance of the Offer is open until January 12, 2022, with a minimum acceptance threshold of 70%. Acorn HoldCo has secured commitments from key ADVA shareholders. Regulatory approvals and shareholder consent are necessary for the transaction's completion.

ADTRAN, a leading provider of networking solutions, will present at the Needham Virtual Security, Networking & Communications Conference on November 16, 2021. The presentation will include updates on ADTRAN’s proposed business combination with ADVA Optical Networking and insights on industry trends affecting the market. The live webcast can be accessed here. This event highlights ADTRAN's commitment to advancing global networking and connecting people worldwide.

ADTRAN, Inc. (NASDAQ:ADTN) reported its third quarter 2021 results, posting revenues of $138.1 million but a net loss of $10.4 million, translating to a loss per share of $0.21. Non-GAAP metrics showed a net loss of $0.8 million and a loss per share of $0.02. The company noted record Q3 bookings, up 43% year-over-year, with a 61% growth rate in SaaS customers. Additionally, it announced a quarterly dividend of $0.09 per share, payable on November 30, 2021.

ADTRAN (NASDAQ:ADTN) has announced its partnership with CalChip Connect to enhance IoT solutions, adding ADTRAN's LoRaWAN IoT gateways to CalChip's offerings. This collaboration aims to meet the increasing demand for enterprise IoT applications, projected to dominate a global IoT market worth $1.1 trillion by 2024, according to GlobalData. CalChip Connect's ability to create customized solutions will be bolstered by ADTRAN's reliable support and technology, aimed at improving productivity and supporting sustainability efforts in various enterprises.

ADTRAN, Inc. (NASDAQ: ADTN) will release its third quarter 2021 financial results after market close on November 1, 2021. A conference call to discuss these results is scheduled for November 2, 2021, at 9:30 a.m. Central Time. Participants can access the webcast on ADTRAN’s Investor Relations site. An online replay and transcript will be available for at least 12 months post-call. ADTRAN focuses on enhancing connectivity for global communications service providers.

ADTRAN, Inc. (NASDAQ: ADTN) reported preliminary financial results for Q3 2021, with expected revenue of $138 million and a gross margin of 34.5%. The company anticipates an operating loss of $10.1 million, primarily due to $9 million in supply chain-related expenses. Despite challenges, ADTRAN experienced a 43% year-over-year increase in bookings, indicating strong demand from global service providers. The company expects supply chain issues to normalize by mid-2022 and remains enthusiastic about the upcoming merger with ADVA.