Waller Capital Advises Alpine PCS on sale to Verizon Wireless and Leap

Santa Barbara, CA

Today, two bankrupt affiliates of Alpine PCS announced that they have signed agreements to sell substantially all of their wireless assets to two national wireless carriers. Alpine-California F, LLC agreed to sell its PCS spectrum covering Bakersfield, CA to a wholly-owned subsidiary of Leap Wireless International, Inc. Alpine-Hyannis F, LLC agreed to sell its single 10 MHz license in Hyannis, MA to Verizon Wireless.

Both of these sales are subject to higher and better offers and must be approved by the U.S. Bankruptcy Court following Section 363 auctions expected to take place in Los Angeles in early May. The transactions are also subject to regulatory approval, and are expected to close by year-end. Interested parties should contact Waller Capital Corporation, a New York-based Investment Bank, which serves as Alpine’s financial advisor.

For further information, or to participate in the auction, please contact:
Counsel for the Debtors:
Pachulski, Stang, Ziehl, Young, Jones & Weintraub
Jeffrey N. Pomerantz, Esq.
Phone # (310) 277-6910

Financial Advisor for the Debtors:
Waller Capital Corporation
Garrett M. Baker, Principal
Phone # (212) 632-3600