Energy Capital Partners Entities Acquire Shares in Shenandoah Telecommunications Co

Energy Capital Partners entities, including ECP Fiber Holdings GP, LLC, ECP Fiber Holdings, LP, Hill City Holdings GP, LLC, and Hill City Holdings, LP, have acquired additional shares in Shenandoah Telecommunications Co (SHEN). The transactions, executed on August 4 and 5, 2025, were part of a Rule 10b5-1 plan adopted by Hill City Holdings, LP. On August 4, 23,703 shares were purchased at a weighted-average price of $12.9955, increasing the total holdings to 3,118,244 shares. On August 5, an additional 26,117 shares were acquired at a weighted-average price of $13.1177, bringing the total to 3,144,361 shares. The entities involved in these transactions are managed by ECP ControlCo, LLC, which is controlled by its board of managers. The filings were made separately due to electronic filing system limitations.