Spectrum Five, LLC, Austin, TX, was formed to provide Direct Broadcast Satellite (“DBS”) wholesale services in North and South America from its valuable DBS orbital locations. These DBS spectrum assets, combined with new high capacity video delivery architecture, will create significantly more capacity than existing fleets of DBS satellites. Spectrum Five has two “slots” which have been approved by the FCC, Northwood led a growth financing in 2014 and has invested in several subsequent financings.