WideOpenWest (WOW!) reports it lost 16,000 pay-TV subscribers and 2,000 high-speed internet customers in the second quarter following price hikes. However, the company notes the $356.5 million it raised from an initial public offering in May allowed it to get some debt off its balance sheet.

WOW!’s overall revenue for quarter two dipped 1.6 percent year over year to $297.5 million.

Residential subscription revenue was $231 million, a 1.8 percent drop compared to the second quarter of 2016. WOW! indicates the biggest contributor to the decline was video and telephony subscription losses.

Despite losing 2,000 high-speed data subscribers, internet subscription revenues increased by $7.5 million or 8.1 percent over the year ago quarter to $99.9 million.

Using funds from its IPO, the cable operator also says it was able to pay off all of its 10.25 percent senior unsecured notes, ridding itself of $60 million in annualized interest payments. 

In August, WOW! also inked a deal to sell its Chicago-area fiber network to Verizon for $225 million, which the company will use to further pay off debt.

WOW! plans to continue its internet-centric strategy, and focus on edge-outs to expand its number of passings. As of the end of June, WOW! extended its network to 75,000 new homes passed as part of its edge-out growth strategy started in 2016.

“On May 25, 2017, we completed the initial public offering of WOW!. The capital raised during that offering, and our subsequent transactions, best position WOW! for sustainable growth going forward,” WOW! CEO Steven Cochran comments. “Despite some anticipated seasonality during the second quarter and a price increase effective in June, the company’s key objectives remain on course. WOW!’s focus on edge outs, the growth of our commercial services business and driving HSD connects continue to be the building blocks for a great future.”