#United States #Florida #Wire 3 #Fiber Network

Wire 3 Secures $115 Million Credit Line for Future Fiber Expansion

In a significant move to bolster internet connectivity across the Sunshine State, Wire 3, a prominent provider of high-speed fiber-optic service, announced the closure of a substantial $115 million credit facility. The financing was primarily led by key financial institutions, including Woodforest National Bank, CIBC, and JPMorgan, with additional support from Axiom Bank. This milestone achievement is part of Wire 3's strategic plan to enhance its comprehensive fiber-optic network that stretches across Florida.

Continuing Momentum

This latest round of funding complements the impressive growth that Wire 3 has experienced over the past year, during which the company raised an additional $300 million in equity investments. Notably, Oak Hill Capital Partners has taken the lead in those investments. Oak Hill stands out as one of the most influential fiber investors in the U.S., managing a portfolio of six distinct companies operating over 33 states and collectively serving around four million locations nationwide.

Jeff Morse, CFO and co-founder of Wire 3, expressed enthusiasm about the credit facility, highlighting its role in strengthening the company's financial foundation. He emphasized, "This credit facility augments our strong capital base and gives us additional liquidity to accelerate our mission of building a future-proof fiber-optic network across Central Florida. With the continued support of our lenders, we are well-positioned to extend our reach and connect more communities to the fast, reliable internet they need for the future. As we grow, we remain committed to delivering an exceptional customer experience."

Network Footprint and Expansion Plans

Currently, Wire 3's expansive network passes nearly 80,000 homes along 800 miles of fiber optic lines throughout Florida. The company has ambitious plans to further expand into new territories like Ocala while also enhancing its existing infrastructure in Volusia, Marion, Brevard, and St. Lucie counties. With a growing workforce of over 140 employees, Wire 3 is rapidly establishing itself as one of Florida's fastest-growing internet service providers.

About Wire 3

Founded on the premise of enhancing digital connectivity, Wire 3 Fiber is dedicated to innovating how Floridians access the internet. The company's offerings focus on a comprehensive, 100% fiber-optic infrastructure, delivering download speeds of up to 10 Gigabits. The service is crafted to cater to the varied needs of families, small businesses, and local communities within Florida.

Wire 3 is committed to developing a multi-gigabit network that prioritizes symmetrical speeds and reliability, ensuring that all users enjoy seamless online experiences. The company's philosophy is rooted in exceptional customer service, driven by a team of dedicated professionals who are uniquely passionate about advancing connectivity in the region.

As Wire 3 continues its journey towards more extensive fiber coverage in Florida, the phrase "The future is fast. The future is fiber" encapsulates the company's vision and commitment to delivering advanced internet services that empower communities and individuals alike. For additional information on Wire 3 and its service offerings, interested parties can visit wire3.com.