Triad 700 was formed with M/C repeat entrepreneurs as a vehicle to participate in the 2008 FCC Auction 73 — the 700 MHz Band Auction, which generated $19 billion in net bids ($1.22 per MHz pop). Triad acquired 36 licenses covering 193 million MHz POPs for $17 million, or $0.09 per MHz POP. Licenses acquired include a very deep spectrum position in Alaska (34 MHz covering the entire state), plus clusters of very attractive licenses covering parts of California, Nevada, Texas, Ohio, Indiana, Pennsylvania, New York, Connecticut, Rhode Island, Massachusetts, Maryland, Florida, Puerto Rico and Hawaii.