Orbital Energy Group Inc (NASDAQ: OEG) subdivision Gibson Technical services received a project from Charter Communications Inc (NASDAQ: CHTR). Gibson will coordinate the entire service construction across 8,600 miles in Alabama, Louisiana, and North Carolina.
Meanwhile, Orbital announced a direct stock offering as they entered a security purchase agreement with the investors. It will be $3.65 per share to purchase and sell its common stock’s 10.4 million shares.
Service Construction in the US States
The service construction project for the US States is part of the Federal government’s RDOF (Rural Digital Opportunity Fund). This RDOF broadens the FCC’s (Federal communication commissions) Connect America Fund (CAF) as the project tends to support the broadband network in rural areas across the States. The project gets up to $20.4 billion for ten years. Gibson will start the project immediately and is expected to extend for five to six years.
Charter is one of the leading network providers serving 31 million customers in 41 states through the Spectrum brand. The RDOF requires a $5 billion investment which began with the $1.5 billion which they won in the auction. With this, 1 million customers locations can get gigabit broadband networks.
Orbital Energy Group, a publicly-traded company dedicated to maximizing shareholder value through the acquisition and development of innovative companies to create a diversified service platform, in another leap forward, has entered into a securities purchase agreement. It involves purchasing and selling 10.4 million shares of its common stock at a purchase price of $3.65 per share in a registered direct offering. The sole placement agent for the offering will be Alliance Global Partners.
Walmart – the Next Tech Giant?
E-commerce has become the way of the world, and many big brands are adopting it. These brands build their own technologies to monetize their products. But Walmart Inc (NYSE: WMT) decided to go one step further and monetize e-commerce itself.
Walmart – the world’s largest Retailer, announced they would offer subscriptions for their e-commerce technologies and capabilities to small businesses with the help of Adobe Inc (NASDAQ: ADBE). It will help Walmart combine the marketplace with online and in store fulfillment in Adobe’s commerce platform.