RESTON, Va., May 10, 2022 - NII Holdings, Inc. (“NII” or the “Company”) today issued its 2021 audited financial statements and provided an update on its dissolution.
2021 Audited Financial Statements
The audited financial statements are available on NII’s website at www.nii.com.
NII reported net assets in liquidation as of December 31, 2021 of $71.4 million ($0.68 per share), a decrease of $204.9 million as compared to net assets in liquidation as of December 31, 2020 of $276.3 million. The decrease was driven primarily by a $199.6 million liquidating distribution made during 2021.
Update on Dissolution Matters
Based on currently available information, NII currently estimates that the total amount of remaining distributions will be between $0.50 and $0.69 per share, for a total of between $2.41 and $2.60 per share, including the $1.91 per share liquidating distribution that was made on September 20, 2021. The low end of the range includes a reserve of $4.5 million for additional tax, accounting and legal costs, as well as potential personnel costs that may need to be incurred in connection with the dissolution process, and the $3.0 million Unknown Claims Reserve. The ultimate amount distributable to stockholders will depend on factors outside of NII’s control, including, among other things, the amount of cash recovered from escrow amounts related to the sale of NII’s operations in Mexico, and could vary from NII’s current estimates.
More information about these matters and the Company’s financial condition can be found in the Company’s 2021 audited financial statements.
About NII Holdings, Inc.
Visit NII’s website at www.nii.com.
NII Holdings, Inc.
1405 S Fern Street, #93001
Arlington, VA 22202
www.nii.com