The deal will see Avanti deploy capacity from its HYLAS fleet to a new customer in EMEA.
Companies: Avanti Communications Group
The good news for Avanti Communications investors continued on Monday after the AIM-listed firm announced a $4.5m 2-year contract win that sent shares up 6%. The news comes just one day after it made considerable gains on Friday (+25%).
The deal, which is the first in the mobility market, will see Avanti deploy capacity from its HYLAS fleet to a new customer in EMEA. The name of the new client was withheld from the announcement as it is "commercially confidential".
CEO David Williams said he was pleased to announce its first contract in the "high-growth" mobility market, adding that the company is focused on supporting more service providers in this sector:
"We are enthusiastic about the broad range of other opportunities in the mobility market that we are currently responding to and it suggests a new pathway for growth."
The latest announcement follows Friday's refinancing deal which sent shares up 55% before falling back to +25%. Avanti has replaced its existing $50m debt facility, with a $100m facility and reduced its interest to 7.5% from 10%.
