Straight Path Communications Inc. (NYSE MKT:STRP) today announced that it has filed a shelf registration statement on Form S-3 with the United States Securities and Exchange Commission (“SEC”). The registration statement, once declared effective by the SEC, is intended to provide the company with flexibility to access the capital markets in a timely manner.

Davidi Jonas, Chief Executive Officer of Straight Path, issued the following statement:

“As we work with Evercore to continue our review of strategic alternatives, we have recognized that potential access to the capital markets will provide increased opportunities for our company. This increased flexibility will provide us with the potential to pursue different alternatives, and will support our endeavors to maximize shareholder value.”

Under the shelf registration statement, once declared effective by the SEC, Straight Path may from time to time issue up to an aggregate 1.25 million shares of its Class B common stock.

The shelf registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration and qualification under the securities law of such jurisdiction. Any offering of the securities covered by the shelf registration statement will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering. A copy of the prospectus included in the registration statement may be obtained on the SEC’s website at www.sec.gov.

After the shelf registration becomes effective, Straight Path may offer and sell securities covered by the registration statement through one or more methods of distribution, subject to market conditions and Straight Path’s capital needs. The terms of any offering under the shelf registration statement will be established at the time of the offering and described in a prospectus supplement filed with the SEC prior to the completion of the offering.

About Straight Path Communications Inc. (STRP)
Straight Path (NYSE MKT: STRP) 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. Additional information is available on Straight Path's website: www.straightpath.com

Safe Harbor
In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate, "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our Annual Report on Form 10-K for the fiscal year ended July 31, 2016 and our other periodic filings with the SEC (under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations"). We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.

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