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Debt (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Shentel’s outstanding long-term debt obligations as of December 31, 2025 and 2024 are as follows:

(in thousands)Interest RatesDecember 31,
2025
December 31,
2024
Shentel Issuer Class A-2 Notes5.64%$489,142 $— 
Shentel Issuer Class B Notes6.03%78,263 — 
Shentel Broadband RCF
Floating(1)
75,000 — 
Shentel Broadband Term loan A-1
Floating(1)
— 144,451 
Shentel Broadband Term loan A-2
Floating(1)
— 148,506 
Shentel Broadband Term loan A-3
Floating(1)
— 125,000 
Total debt642,405 417,957 
Less: unamortized loan fees(14,168)(1,078)
Total debt, net of unamortized loan fees$628,237 $416,879 
(1) The RCF bears interest at one-month term SOFR plus a margin. The margin is variable and determined by the Company’s net leverage ratio. This interest rate was 6.19% at December 31, 2025. The term loans outstanding in the prior year bore interest at one-month term SOFR plus a margin. The margin was variable and determined by the Company’s net leverage ratio. The weighted-average interest rate was 6.42% as of December 31, 2024
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The carrying amounts of the Company’s long-term debt under the Previous Credit Agreements, which had floating interest rates, approximated their fair values. Similarly, the carrying amount amounts of the Company’s RCF, which has a floating interest rate, approximates its fair value. The fair values of Shentel’s the Class A-2 Notes and Class B Notes were as follows:
(in thousands)December 31,
2025
Shentel Issuer Class A-2 Notes$494,278 
Shentel Issuer Class B Notes77,676 
Schedule of Interest Income and Interest Expense Disclosure Interest expense recorded in Shentel’s consolidated statements of operations consisted of the following for the years ended:
(in thousands)202520242023
Interest expense
$36,055 $24,415 $9,633 
Less: capitalized interest
(10,681)(8,518)(5,421)
Interest expense, net of capitalized interest
$25,374 $15,897 $4,212