Straight Path stockholders approve Verizon merger

Straight Path Communications Inc. (NYSE MKT: STRP) stockholders have voted to adopt the merger agreement between Straight Path Communications Inc., Verizon Communications Inc. and Waves Merger Sub I, Inc., the company said

With 89% of the votes entitled to be cast at the special meeting of stockholders voting, approximately 99% were cast in favor of the proposal.

Straight Path holds an extensive portfolio of 39 GHz and 28 GHz wireless spectrum licenses. Straight Path is developing next generation wireless technology through its Straight Path Ventures subsidiary. Straight Path holds licenses and conducts other business related to certain patents through its Straight Path IP Group subsidiary.