NII Holdings Inc.
06/26/2024 | Press release | Distributed by Public on 06/27/2024 03:29
NII Holdings Issues its 2023 Audited Financial Statements and Provides Update on Dissolution Matters
RESTON, Va., June 26, 2024 - NII Holdings, Inc. ("NII") today issued its 2023 audited financial statements and provided an update on its dissolution.
2023 Audited Financial Statements
The audited financial statements are available on NII's website at ir.nii.com.
NII reported net assets in liquidation as of December 31, 2023 of $60.5 million ($0.58 per share), a decrease of $11.8 million as compared to net assets in liquidation as of December 31, 2022 of $72.3 million. The change was driven primarily by a $12.5 million release of funds from escrow to settle certain indemnification obligations related to the sale of Nextel Mexico.
Update on Dissolution Matters
Based on currently available information, NII currently estimates that the total amount of remaining distributions will be between $0.48 and $0.59 per share, for a total of between $2.39 and $2.48 per share, including the $1.91 per share liquidating distribution that was made on September 20, 2021. As noted in the 2023 financial statements, there is one remaining Mexican tax audit. The Board of Directors and management are continuing to work with the Mexican tax authority to resolve this audit.
The ultimate amount distributable to stockholders will depend on factors outside of NII's control, including, among other things, the amount of cash recovered from escrow amounts related to the sale of NII's operations in Mexico, and could vary from NII's current estimates.
More information about these matters and NII's financial condition can be found in NII's 2023 audited financial statements.
About NII Holdings, Inc.
Visit NII's website at ir.nii.com.
NII Holdings, Inc.
1405 S Fern Street, #93001
Arlington, VA 22202
www.nii.com
Investor and Media Relations:
Tim Mulieri