ATN International Inc. (NASDAQ: ATNI) completed the initial closing of its Southwestern U.S. tower portfolio sale to EIP Holdings IV, LLC, an affiliate of Everest Infrastructure Partners, for $268 million in cash proceeds.

The transaction involved the sale of towers and related operations through ATN's subsidiary, Commnet Wireless, LLC. Additional closings worth up to $30 million are expected over the next twelve months, subject to construction and operational milestones at sites not included in the initial transfer.

ATN will use $68 million of the proceeds to repay borrowings under its CoBank revolving credit facility. The company expects the sale to reduce its remaining 2026 consolidated and U.S. Telecom segment revenues by $3 million, operating income by $4 million, and Adjusted EBITDA by $7 million.

The Beverly, Massachusetts-based company revised its 2026 full-year Adjusted EBITDA outlook to $183 million to $193 million, down from the previously disclosed range of $190 million to $200 million.

"With net proceeds from the initial closing broadly the size of our annual Adjusted EBITDA, we are enhancing our liquidity and financial flexibility," said Naji Khoury, Chief Executive Officer of ATN.

ATN provides digital infrastructure and communications services in the United States and internationally, focusing on rural and remote markets. The company's subsidiaries offer wireless and wireline connectivity services, fiber optic transport, and communications tower facilities.