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Extract to table / memo-foreign-ownership-analysis-310b4.docx
memo-foreign-ownership-analysis-310b4.docx
Parties
Harkness LLP
Broadfield Whitaker LLP
Ridgeline Wireless Holdings LLC
Northgate Wireless Americas Inc
Northgate Telecommunications PLC
Northgate US Holdings LLC
Strategic Context Northgate Telecommunications PLC
Growth Capital Fund II LP
Dates
October 14, 2022
September 22, 2022
August 22, 2022
March 31, 2022
March 31, 2023
December 31, 2021
January 31, 2020
August 30, 2022
April 4, 2020
November 28, 2022
Amounts
$126,500,000
$0.845
$87.4
$19.2
Obligations
The approval mechanism is the Section 310(b)(4) Petition for Declaratory Ruling, which must be filed with the FCC and approved prior to the consummation of any transaction that would result in indirect foreign ownership exceeding 25%
In addition, the applicant must disclose the aggregate level of foreign ownership, even if individual shareholders below the 5% threshold cannot be specifically identified
Where indirect foreign ownership exceeds 25%, the Form 603 filing must be accompanied by, or filed concurrently with, a Section 310(b)(4) Petition for Declaratory Ruling
The Petition must contain detailed ownership information, including the identification of the licensee, the controlling U
intermediate holding company, NUS Holdings — and must be evaluated under the discretionary public interest standard of Section 310(b)(4)