Towerstream Corp.'s board initiated an evaluation of strategic repositioning of the company as it moves to leverage its key assets in major U.S. markets.

Also, the company said March 19 that it will focus on indirect and wholesale channels and the retention of Bank Street Group LLC as its independent financial adviser to explore strategic alternatives with such broadband carriers.

The company said that it does not have a definitive timetable for the completion of its review of strategic alternatives and there can be no assurances that the process will result in a transaction. The board will evaluate any potential strategic alternatives.

Towerstream is a fixed-wireless fiber alternative company delivering high-speed Internet access to businesses.