Xplore Inc., a leading provider of high-speed broadband services to Canadians in rural communities, announced the completion of a comprehensive recapitalization valued at more than $1.6 billion of new funding committed through both private investment and multiple federal and provincial government broadband programs.

The investment is being led by Xplore’s controlling shareholder, Stonepeak, and includes other institutional investors.

Simpson Thacher served as legal counsel to Stonepeak with a team that included Eli Hunt and Si Sun (M&A); Elisha Graff and Ashley Gherlone (Restructuring); Brian Gluck and Dorothy Hector (Credit); Jonathan Karen, Deborah Gruen, Demetrius Baefsky, Sara Asrat and Shuchen Gong (Funds); and Jonathan Goldstein, Jacqueline Clinton and Mohanad Salaimi (Tax).

Davies served as legal counsel to Xplore Inc.