Revenue increased 30% to $42.5 million for the three months ended June 30, 2023, as compared to revenue of $32.6 million for the three months ended June 30, 2022. On June 15, 2023, the Merger was approved by the Company’s stockholders.įor additional information relating to this pending transaction, please refer to the definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission (the “SEC”) on (as amended and supplemented) and other relevant materials that the Company has filed and may file with the SEC in connection with the Merger. The parties still expect the Merger to close in the third quarter of 2023, subject to the conditions set forth in the Merger Agreement, although there can be no assurance that the Merger will occur by that date. The Company has since obtained all antitrust and direct foreign investment approvals required in connection with the Merger except for one foreign direct investment approval that remains outstanding. As of June 30, 2023, Radius has approximately $358.5 million of total cash and cash equivalents, restricted cash (including long-term restricted cash), and short-term investments.”Īs previously announced on March 1, 2023, Radius entered into a definitive agreement under which EQT Active Core Infrastructure (“EQT”) and the Public Sector Pension Investment Board (“PSP”), through certain of their controlled affiliates, will acquire the Company (the “Merger”). In the second quarter, we invested $110.9 million to acquire 223 communication sites that are generating $8.3 million of annual rent. Our revenues are primarily triple net, inflation-linked rents underlying mission-critical communications sites. In the second quarter, our Annualized In-Place Rents increased by 34% year-over-year to $176.7 million. “We generated quarterly Revenue of $42.5 million in the second quarter of 2023, up 30% from the second quarter of 2022, with Gross Profit increasing to $40.0 million, up 31% year-over-year. (Nasdaq: RADI) (“Radius” or the “Company”), one of the largest international owners and acquirors of real property interests and similar contractual rights underlying essential digital infrastructure assets, today reported financial results for the quarter ended June 30, 2023.īill Berkman, Co-Chairman and CEO of Radius Global Infrastructure, commented:
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