Brightspeed, which is the nation’s third-largest fiber broadband builder, today announced it has priced an offering of $575 million in capital to advance its ongoing fiber network expansion. This new funding is incremental to the $3.7 billion raised in the previous year. It will support Brightspeed’s continued investment in building high-speed fiber internet to over five million homes and businesses across the company’s 20-state footprint.
This additional capital reflects robust investor support. It affirms their confidence in the Brightspeed thesis: a large, underpenetrated footprint, a focused and proven build engine, and a long runway for value creation through fiber expansion.
Brightspeed’s fiber network utilizes XGS-PON technology to deliver symmetrical multi-gig speeds. And its service is available across more than 530 communities and continues to grow. The company is one of the most active and well-capitalized fiber builders in the country today.
Along with private funding, Brightspeed has secured over $295 million in public broadband grants and subsidies to date, further supporting the build-out in unserved and underserved areas. Brightspeed continues to aggressively pursue additional subsidy opportunities to extend its fiber reach further and maximize impact in underserved areas.
Momentum: As one of the fastest-growing fiber broadband builders, Brightspeed has already passed more than 2 million premises with fiber and expects to pass approximately 1 million additional homes in 2025 alone, maintaining one of the fastest build paces in the country.
KEY QUOTES:
“This new capital allows us to continue our aggressive fiber build strategy, bringing high-speed connectivity to communities that have historically lacked quality broadband options. We’ve made tremendous progress, and this new funding underscores the credit market’s belief in our strategy and reaffirms the strength of our execution.”
“Our focus remains clear — to build fiber quickly and efficiently, bringing future-proof fiber connectivity to as many homes and businesses in our footprint as possible. We are delivering results at scale and remain committed to maintain our strong build momentum.”
Michel Combes, Executive Chairman and CEO of Brightspeed
