In the news release, Kerrisdale Capital Releases Negative Report on Straight Path Communications Inc. (STRP) and Announces Conference Call Schedule, issued 19-Jan-2017 by Kerrisdale Capital Management, LLC over PR Newswire, we are advised by the company that the hyperlink in the 6th paragraph was incorrect as originally issued. The correct link is http://kerr.co/strp-jan19. The complete, corrected release follows:

Kerrisdale Capital Releases Negative Report on Straight Path Communications Inc. (STRP) and Announces Conference Call Schedule

Straight Path Faces 70% Downside Following Market Overreaction to FCC Settlement

- In the wake of its settlement with the FCC, Straight Path must sell its spectrum -- and fast, lest it face additional penalties, including a potential re-opening of an FCC investigation.

- Kerrisdale believes that Straight Path is grossly overvalued relative to the price it will actually get for its spectrum.

- Verizon is set to buy a similar amount of comparable (yet superior) spectrum for only $200 million, setting a ceiling for Straight Path that is 60% below where the stock currently trades.

- The FCC's continued expansion of millimeter-wave spectrum supply further weakens Straight Path's position.

NEW YORK, Jan. 19, 2017 /PRNewswire/ -- Kerrisdale Capital, a private investment company, has published a report on Straight Path Communications Inc. (STRP), a $500 million company that holds and leases wireless spectrum licenses in the United States. Kerrisdale believes that Straight Path is worth 70% less than its current market cap given the low value of its portfolio of millimeter-wave spectrum, the large penalties it will have to pay the FCC, and the abundance of competing spectrum.

The full report can be found at http://kerr.co/strp2.

Kerrisdale has a short position in Straight Path and stands to benefit if the share price falls.

Conference Call Schedule
Kerrisdale will host a conference call on Thursday, January 19, 2017, at 10:30am ET to discuss the Straight Path report.

To participate in the conference call, dial 888-567-1602 (US and Canada) or 862-255-5346 (international) and reference the Kerrisdale Capital call.

A replay will be available following the call at http://kerr.co/strp-jan19

About Kerrisdale Capital
Kerrisdale Capital Management, LLC, is a fundamentally-oriented investment manager that focuses on long-term value investments and event-driven special situations.

Contact
Agnes Cao
Kerrisdale Capital
acao@kerrisdalecap.com
212-792-4385

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/kerrisdale-capital-releases-negative-report-on-straight-path-communications-inc-strp-and-announces-conference-call-schedule-300393467.html

SOURCE Kerrisdale Capital Management, LLC