MobilePro Signs Definitive Agreement to Sell CLEC Division Monday July 2, 6:00 am ET
$30 Million Price Would Enable Full Retirement of Cornell Capital Obligations at Closing
BETHESDA, Md., July 2 /PRNewswire-FirstCall/ -- MobilePro Corp., announced today that it has signed a definitive agreement to sell its CLEC Division in a transaction valued at $30 million to United Systems Access Telecom, Inc., which does business as USA Telephone (www.savewithusa.com <http://www.savewithusa.com>). The sale will include cash of $21.9 million and $8.1 million in convertible preferred stock in United Systems Access paid in two tranches.
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