<SEC-DOCUMENT>0001171843-24-002531.txt : 20240503
<SEC-HEADER>0001171843-24-002531.hdr.sgml : 20240503
<ACCEPTANCE-DATETIME>20240503160145
ACCESSION NUMBER:		0001171843-24-002531
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20240503
DATE AS OF CHANGE:		20240503
EFFECTIVENESS DATE:		20240503

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SHENANDOAH TELECOMMUNICATIONS CO/VA/
		CENTRAL INDEX KEY:			0000354963
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				541162807
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-279106
		FILM NUMBER:		24912866

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 459
		STREET 2:		500 SHENTEL WAY
		CITY:			EDINBURG
		STATE:			VA
		ZIP:			22824
		BUSINESS PHONE:		5409844141

	MAIL ADDRESS:	
		STREET 1:		P O BOX 459
		STREET 2:		500 SHENTEL WAY
		CITY:			EDINBURG
		STATE:			VA
		ZIP:			22824
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>s8_050324.htm
<DESCRIPTION>S-8
<TEXT>
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<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">As filed with the Securities and Exchange Commission
on May 3, 2024</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: right; margin: 0pt 0">Registration No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: right; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 3pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Washington, D.C. 20549</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>________________________</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">FORM S-8</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">REGISTRATION STATEMENT</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">UNDER THE SECURITIES ACT OF 1933</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0"><B>________________________</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 12pt">SHENANDOAH TELECOMMUNICATIONS
COMPANY<BR>
</FONT><FONT STYLE="font-weight: normal">(Exact name of registrant as specified in its charter)</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 56%; text-align: center; font-size: 10pt; font-weight: bold">Virginia</TD>
    <TD STYLE="width: 44%; text-align: center; font-size: 10pt; font-weight: bold">54-1162807</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-weight: normal">(State or other jurisdiction <BR>
of incorporation or organization)</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-weight: normal">(I.R.S. Employer<BR>
Identification Number)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>
    <P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">500 Shentel Way<BR>
    P.O. Box 459</P>
    <P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">Edinburg, Virginia</P></TD>
    <TD STYLE="text-align: center; font-size: 10pt; font-weight: bold">22824</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-weight: normal">(Address of Principal Executive Offices)</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-weight: normal">(Zip Code)</FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">Shenandoah Telecommunications Company 2024 Equity Incentive
Plan</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">(Full title of the plan)</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Derek C. Rieger<BR>
Vice President &ndash; Legal, General Counsel and Corporate Secretary<BR>
500 Shentel Way<BR>
Edinburg, VA 22824<BR>
</B>(Name and address of agent for service)</P>

<P STYLE="font-size: 10pt; text-align: left; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>(540) 984-4141</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(Telephone number, including area code, of agent for service)</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>Copy to:</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>Steven M. Haas</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>Mayme B. F. Donohue</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>Hunton Andrews Kurth LLP<BR>
Riverfront Plaza, East Tower</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>951 East Byrd Street</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>Richmond, VA 23219<BR>
(804) 788-7217</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Indicate by check mark whether the registrant is a large accelerated filer,
an accelerated filer, a non-accelerated filer, or a smaller reporting company, or an emerging growth company. See the definitions of &ldquo;large
accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company&rdquo; and &ldquo;emerging growth company&rdquo;
in Rule 12b-2 of the Exchange Act.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 33%; font-size: 10pt">Large accelerated filer</TD>
    <TD STYLE="width: 20%; font-size: 10pt">&#9745;</TD>
    <TD STYLE="width: 24%; font-size: 10pt">Accelerated filer</TD>
    <TD STYLE="width: 23%; font-size: 10pt">&#9744;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Non-accelerated filer</TD>
    <TD STYLE="font-size: 10pt">&#9744; (Do not check if a smaller reporting company)</TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">Smaller reporting company</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">Emerging growth company</P></TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">&#9744;</P>&#9744;</TD></TR>
  </TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: left"><FONT STYLE="font-weight: normal">If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. &#9744;</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: left"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"></FONT></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>EXPLANATORY NOTE</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><FONT STYLE="background-color: white">This Registration
Statement on Form S-8 (this &ldquo;Registration Statement&rdquo;) is being filed by Shenandoah Telecommunications Company, a Virginia
corporation (the &ldquo;Company&rdquo; or &ldquo;Registrant&rdquo;), relating to 3,000,000 shares </FONT>of common stock, no par value
per share (the &ldquo;Common Stock&rdquo;), issuable under the Shenandoah Telecommunications Company 2024 Equity Incentive Plan (the &ldquo;Plan&rdquo;).
The Plan was approved by vote of the shareholders of the Registrant at the Company&rsquo;s 2024 annual meeting of stockholders on April
30, 2024. This Registration Statement is being filed to register the shares issuable under the Plan.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: left"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">PART I</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="background-color: white">The Registrant
will send or give to all participants in the Plan document(s) containing the information required in Part I of Form S-8, as specified
in Rule 428(b)(1) promulgated by the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) under the Securities Act of 1933,
as amended (the &ldquo;Securities Act&rdquo;). In accordance with Rule 428(b)(2), the Registrant has not filed such document(s) with the
Commission, but such document(s) (along with the documents incorporated by reference into this Registration Statement pursuant to Item&nbsp;3
of Part II hereof) shall constitute a prospectus that meets the requirements of Section&nbsp;10(a) of the Securities Act. The Registrant
shall make available, without charge, upon written or oral request, additional copies of documents required to be delivered to participants
pursuant to Rule 428(b).</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: left"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">PART II</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 3.</B></TD><TD STYLE="text-align: justify"><B>Incorporation of Documents by Reference.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Except to the extent that information is deemed furnished
and not filed pursuant to applicable securities laws and regulations, the Registrant incorporates by reference in this Registration Statement
the following documents and information previously filed with the Commission, which shall be deemed a part hereof:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">The Registrant&rsquo;s Annual Report on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000354963/000162828024005781/shen-20231231.htm">Form 10-K</A> for the fiscal year ended December 31, 2023, filed with
the Commission on February 21, 2024;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">The information in the <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000354963/000162828024011072/shen-20240314.htm">Definitive Proxy Statement&nbsp;for the Registrant&rsquo;s 2024 Annual Meeting of Shareholders</A> filed with the Commission on March 14, 2024 that is incorporated by reference into the Registrant&rsquo;s
                                                                Annual Report on <FONT STYLE="font-size: 10pt">Form
                                                                10-K</FONT>&nbsp;for the fiscal year ended December 31, 2023;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify"><FONT STYLE="background-color: white">The Registrant&rsquo;s Quarterly Report on&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000354963/000162828024020142/shen-20240331.htm">Form 10-Q</A> for the
quarter ended March 31, 2024, filed with the Commission on </FONT>May 3, 2024<FONT STYLE="background-color: white">;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">The Registrant&rsquo;s Current Reports on Form 8-K as filed with the Commission on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000354963/000117184324001118/f8k_030124.htm">March 1, 2024</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000354963/000117184324001718/f8k_032924.htm">March 29, 2024</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000354963/000117184324001743/f8k_040124.htm">April 1, 2024</A> and <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000354963/000117184324002398/f8k_050124.htm">May 1, 2024</A> (in each case, other than information furnished under Item 2.02 and Item 7.01 therein) and the
Registrant&rsquo;s Current Report on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000354963/000117184324001842/f8ka_040424.htm">Form 8-K/A</A> as filed with the Commission on April 4, 2024 (other than information furnished under
Item 7.01 therein); and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(5)</TD><TD STYLE="text-align: justify">The description of the Common Stock contained in a registration statement filed by the Registrant, which
description has been incorporated by reference into <A HREF="https://www.sec.gov/Archives/edgar/data/354963/000162828020002311/shenexhibit41123119.htm">Exhibit 4.1</A> of the Registrant&rsquo;s Annual Report on Form 10-K for the fiscal year
end December 31, 2023, including any amendment or report filed for the purpose of updating such description.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Except to the extent that information is deemed furnished
and not filed pursuant to securities laws and regulations, all documents filed with the Commission by the Registrant pursuant to Sections
13(a), 13(c), 14 or 15(d) of the Exchange Act and all reports on Form 8-K subsequent to the date of this Registration Statement and prior
to the filing of a post-effective amendment to this Registration Statement that indicates that all securities offered hereby have been
sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement
and to be a part hereof from the date of filing of such documents.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Any statement contained herein or in a document incorporated
or deemed to be incorporated herein by reference shall be deemed to be modified or superseded for purposes of this Registration Statement
to the extent that a statement contained herein or in any subsequently filed document that also is, or is deemed to be, incorporated by
reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so
modified or superseded, to constitute a part of this Registration Statement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item 4. Description of Securities.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Not applicable.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item 5. Interests of Named Experts and Counsel.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Not applicable.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item 6. Indemnification of Directors and Officers.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 0.5in">The Virginia Stock Corporation Act permits, and the
Registrant's Articles of Incorporation require, indemnification of the Registrant&rsquo;s directors and officers in a variety of circumstances,
which may include indemnification for liabilities under the Securities Act. Under Sections 13.1-697 and 13.1-702 of the Virginia Stock
Corporation Act, a Virginia corporation generally is authorized to indemnify its directors and officers in civil or criminal actions if
they acted in good faith and believed their conduct to be in the best interests of the corporation and, in the case of criminal actions,
had no reasonable cause to believe that the conduct was unlawful. The Registrant's Articles of Incorporation require indemnification of
directors and officers with respect to certain liabilities, expenses and other amounts imposed upon them by reason of having been a director
or officer, except in the case of willful misconduct or a knowing violation of criminal law. In addition, the Company carries insurance
on behalf of directors, officers, employees or agents that may cover liabilities under the Securities Act. Section 13.1-692.1 of the Virginia
Stock Corporation Act presently permits the elimination of liability for damages of directors and officers in any proceeding brought by
or in the right of the Company or brought by or on behalf of stockholders of the Company, except for liability resulting from such person's
having engaged in willful misconduct or a knowing violation of the criminal law or any federal or state securities law, including, without
limitation, any unlawful insider trading or manipulation of the market for any security. The Registrant&rsquo;s Articles of Incorporation
eliminate liability for damages of its directors or officers, as permitted in Section 13.1-692.1, except for liability resulting from
any such person having engaged in willful misconduct or a knowing violation of the criminal law or any federal or state securities law.
Sections 13.1-692.1 and 13.1-696 to -704 of the Virginia Stock Corporation Act are hereby incorporated by reference herein.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item 7. Exemption from Registration Claimed.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Not applicable.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item 8. Exhibits</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">A list of exhibits included in this Registration Statement is set forth
on the Exhibit Index and is incorporated herein by reference.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item 9. Undertakings.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">The undersigned Registrant hereby undertakes:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">To file, during any period in which offers or sales are being made, a post-effective amendment to this
Registration Statement:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 99pt"></TD><TD STYLE="width: 9pt">i.</TD><TD STYLE="text-align: justify">To include any prospectus required by Section 10(a)(3) of the Securities Act;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 99pt"></TD><TD STYLE="width: 9pt">ii.</TD><TD STYLE="text-align: justify">To reflect in the prospectus any facts or events arising after the effective date of this Registration
Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change
in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities
offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering
price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective Registration Statement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 99pt"></TD><TD STYLE="width: 9pt">iii.</TD><TD STYLE="text-align: justify">To include any material information with respect to the plan of distribution not previously disclosed
in this Registration Statement or any material change to such information in this Registration Statement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.25in; margin: 0pt 0 0pt 1in"><I>provided, however</I>, that paragraphs
(a)(1)(i) and (a)(1)(ii) of this section do not apply if the information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section
15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in this Registration Statement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.25in; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">That, for the purpose of determining any liability under the Securities Act, each such post-effective
amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">To remove from registration by means of a post-effective amendment any of the securities being registered
which remain unsold at the termination of the offering.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the
Securities Act, each filing of the Registrant&rsquo;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and,
where applicable, each filing of an employee benefit plan&rsquo;s annual report pursuant to Section 15(d) of the Exchange Act) that is
incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(h)</TD><TD STYLE="text-align: justify">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors,
officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised
that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses
incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless
in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0"><U></U></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center"><U>EXHIBIT INDEX</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD><U>Exhibit No.</U></TD><TD STYLE="text-align: justify"><U>Description</U></TD></TR>
                                                                                                                 <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                 <TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 1in"><A HREF="https://www.sec.gov/Archives/edgar/data/0000354963/000162828019012899/shenq3201910-qex33.htm">4.1</A></TD><TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0000354963/000162828019012899/shenq3201910-qex33.htm">Amended and Restated Articles of Incorporation of Shenandoah Telecommunications Company (incorporated
by reference to Exhibit 3.2 to the Registrant&rsquo;s Form 10-Q filed on October 31, 2019, File No. 000-09881).</A></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 1in"><A HREF="https://www.sec.gov/Archives/edgar/data/0000354963/000117184324002398/exh_31.htm">4.2</A></TD><TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0000354963/000117184324002398/exh_31.htm">Articles of Amendment to Amended and Restated Articles of Incorporation of Shenandoah Telecommunications
Company (incorporated by reference to Exhibit 3.1 to the Registrant&rsquo;s Form 8-K filed on May 1, 2024, File No. 000-09881)</A></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 1in"><A HREF="https://www.sec.gov/Archives/edgar/data/0000354963/000117184324002398/exh_32.htm">4.3</A></TD><TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0000354963/000117184324002398/exh_32.htm">Amended and Restated Bylaws of Shenandoah Telecommunications Company (incorporated by reference to Exhibit
3.2 to the Registrant&rsquo;s Form 8-K filed on May 1, 2024, File No. 000-09881).</A></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -1in; margin: 0pt 0 0pt 1.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 1in"><A HREF="exh_51.htm">5.1*</A></TD><TD STYLE="text-align: justify"><A HREF="exh_51.htm">Opinion of Hunton Andrews Kurth LLP.</A></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 1in"><A HREF="exh_231.htm">23.1*</A></TD><TD STYLE="text-align: justify"><A HREF="exh_231.htm">Consent of RSM US LLP.</A></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 1in"><A HREF="exh_232.htm">23.2*</A></TD><TD STYLE="text-align: justify"><A HREF="exh_232.htm">Consent of KPMG LLP.</A></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 1in"><A HREF="exh_51.htm">23.3*</A></TD><TD STYLE="text-align: justify"><A HREF="exh_51.htm">Consent of Hunton Andrews Kurth LLP (included as part of Exhibit 5.1).</A></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 1in"><A HREF="https://www.sec.gov/Archives/edgar/data/0000354963/000117184324002398/exh_101.htm">99.1</A></TD><TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0000354963/000117184324002398/exh_101.htm">Shenandoah Telecommunications Company 2024 Equity Incentive Plan (incorporated by reference to Exhibit
10.1 to the Registrant&rsquo;s Form 8-K filed on May 1, 2024, File No. 000-09881).</A></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 1in"><A HREF="exh_1071.htm">107.1*</A></TD><TD STYLE="text-align: justify"><A HREF="exh_1071.htm">Filing Fee Table.</A></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 1in">______________________</TD><TD STYLE="text-align: justify"></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 1in">*</TD><TD STYLE="text-align: justify">Incorporated herein by reference as indicated.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">SIGNATURES</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Pursuant to the requirements of the Securities Act,
the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Edinburg,
Commonwealth of Virginia, on May 3, 2024.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="padding-left: 2pt; font-size: 10pt"><FONT STYLE="background-color: white"><B>SHENANDOAH TELECOMMUNICATIONS
    COMPANY</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 2pt; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-left: 2pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 45%">
    <P STYLE="font-size: 10pt; margin: 0pt 0; border-bottom: Black 1pt solid">/s/ James J. Volk</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-left: 2pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">James J. Volk,</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
    <P STYLE="font-size: 10pt; margin: 0pt 4pt 0pt 2pt">Senior Vice President- Chief Financial Officer</P>
    <P STYLE="font-size: 10pt; margin: 0pt 4pt 0pt 2pt">(Principal Financial Officer)</P></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: left"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">POWER OF ATTORNEY</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">KNOW ALL PERSONS BY THESE PRESENTS, that each person
whose signature appears below constitutes and appoints Christopher E. French, James J. Volk and Derek C. Rieger, and each of them (with
full power to each of them to act alone), his or her true and lawful attorneys-in-fact and agents, with full power of substitution and
resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments or supplements
(including, without limitation, post-effective amendments) to this Registration Statement on Form S-8 and to file the same with all exhibits
thereto, and all documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact
and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done,
as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact
and agents, or any of them, or their or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof. This
power of attorney may be executed in counterparts.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Pursuant to the requirements of the Securities Act,
this Registration Statement has been signed by the following persons in the capacities indicated on May 3, 2024.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 46%">
    <P STYLE="font-size: 10pt; margin: 0pt 0; border-bottom: Black 1pt solid"><B>Signature</B></P></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 51%">
    <P STYLE="font-size: 10pt; margin: 0pt 0; border-bottom: Black 1pt solid"><B>Title</B></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Christopher E. French</FONT></TD>
    <TD>&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="padding-left: 2pt"><FONT STYLE="font-size: 10pt">Director (Chairman); President and Chief Executive Officer (principal executive officer) </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Christopher E. French</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ James J. Volk</FONT></TD>
    <TD>&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="padding-left: 2pt"><FONT STYLE="font-size: 10pt">Senior Vice President and Chief Financial Officer (principal financial officer)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">James J. Volk</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Dennis A. Romps</FONT></TD>
    <TD>&nbsp;</TD>
    <TD ROWSPAN="2">
    <P STYLE="font-size: 10pt; margin: 0pt 4pt 0pt 2pt">Vice President and Chief Accounting Officer</P>
    <P STYLE="font-size: 10pt; margin: 0pt 4pt 0pt 2pt">(principal accounting officer)</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Dennis A. Romps</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Tracy Fitzsimmons</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director (Vice Chairman and Lead Independent Director)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Tracy Fitzsimmons</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Thomas A. Beckett</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Thomas A. Beckett</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ John W. Flora</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">John W. Flora</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Richard L. Koontz Jr.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Richard L. Koontz Jr.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Victor C. Barnes</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Victor C. Barnes</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Kenneth L. Quaglio</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Kenneth L. Quaglio</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Leigh Ann Schultz</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Leigh Ann Schultz</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ James F. DiMola</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">James F. DiMola</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Matthew S. DeNichilo</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Matthew S. DeNichilo</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: left"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>exh_51.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 5.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; font-size: 10pt"><IMG SRC="hunton.jpg" ALT=""></TD>
    <TD STYLE="width: 30%">
    <P STYLE="font-size: 10pt; text-transform: uppercase; margin: 0pt 0">Hunton AndrEws Kurth LLP</P>
    <P STYLE="font-size: 10pt; text-transform: uppercase; margin: 0pt 0">File No: 029353.0000119</P></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">May 3, 2024</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">Shenandoah Telecommunications Company</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">500 Shentel Way</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">P.O. Box 459</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Edinburg, Virginia 22824</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Shenandoah Telecommunications Company</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>Registration Statement on Form S-8</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Addressee:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">We have acted as counsel to Shenandoah Telecommunications Company, a Virginia
corporation (the &ldquo;Company&rdquo;), in connection with the preparation and filing by the Company of a Registration Statement on Form
S-8 (the &ldquo;Registration Statement&rdquo;) with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) on the date
hereof pursuant to the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). The Registration Statement relates to the
registration of 3,000,000 shares (the &ldquo;Shares&rdquo;) of the Company&rsquo;s common stock, no par value, issuable under the Shenandoah
Telecommunications Company 2024 Equity Incentive Plan (the &ldquo;Plan&rdquo;).</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">This opinion letter is being furnished in accordance with the requirements
of Item 8 of Form S-8 and Item 601(b)(5)(i) of Regulation S-K.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">In connection with this opinion letter, we have examined originals or copies,
certified or otherwise identified to our satisfaction, of such documents and records of the Company, certificates of public officials
and officers of the Company and such other documents, certificates and records as we have deemed necessary to render the opinions set
forth herein, including, among other things, (i) the Company&rsquo;s Articles of Incorporation, as amended through the date hereof, (ii)
the Company&rsquo;s Amended and Restated Bylaws, as amended through the date hereof, (iii) the Plan, (iv) the Registration Statement,
and (v) resolutions of the Company&rsquo;s Board of Directors.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">For purposes of the opinions expressed below, we have assumed (i) the authenticity
of all documents submitted to us as originals, (ii) the conformity to the originals of all documents submitted to us as copies and the
authenticity of the originals thereof, (iii) the accuracy, completeness and authenticity of all corporate records and other information
made available to us by the Company, (iv) the legal capacity of all natural persons, (v) the genuineness of all signatures not witnessed
by us and (vi) the due authorization, execution and delivery of all documents by all parties and the validity, binding effect and enforceability
thereof (other than the authorization, execution and delivery of certain documents by the Company).</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; color: #7F7F7F">ATLANTA AUSTIN BANGKOK BEIJING BOSTON BRUSSELS CHARLOTTE
DALLAS DUBAI HOUSTON</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; color: #7F7F7F">LONDON LOS ANGELES MIAMI NEW YORK RICHMOND SAN FRANCISCO
TOKYO TYSONS WASHINGTON, DC</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; color: #7F7F7F">www.HuntonAK.com</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><IMG SRC="hunton.jpg" ALT="" STYLE="height: 27px; width: 100px"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">Shentel Communications Company</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">May 3, 2024</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Page 2</P>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 0.5in">As to factual matters, we have relied upon, and assumed the accuracy of,
representations included in the documents submitted to us, upon certificates and other comparable documents of officers and representatives
of the Company, upon statements made to us in discussions with management and upon certificates of public officials. Except as otherwise
expressly indicated, we have not undertaken any independent investigation of factual matters.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">We do not purport to express an opinion on any laws other than those of
the Commonwealth of Virginia.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Based upon the foregoing and such other information and documents as we
have considered necessary for the purposes hereof and appropriate to render the opinions set forth below, and subject to the assumptions,
qualifications and limitations stated herein, we are of the opinion that the Shares have been duly authorized and, when and to the extent
issued in accordance with the terms of the Plan and any award agreement entered into under the Plan, the Shares will be validly issued,
fully paid and nonassessable.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">We hereby consent to the filing of this opinion letter with the Commission
as an exhibit to the Registration Statement. In giving this consent, we do not admit that we are within the category of persons whose
consent is required by Section 7 of the Securities Act and the rules and regulations of the Commission promulgated thereunder.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">This opinion letter is rendered as of the date hereof, and we disclaim any
obligation to advise you of facts, circumstances, events or developments that hereafter may be brought to our attention and that may alter,
affect or modify the opinion expressed herein. This opinion letter is expressly limited to the matters set forth above and we render no
opinion, whether by implication or otherwise, as to any matters beyond the matters expressly set forth herein.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 3.5in; margin: 0pt 0">Very truly yours,</P>

<P STYLE="font-size: 10pt; text-indent: 3.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 3.5in; margin: 0pt 0">/s/ Hunton Andrews Kurth LLP</P>

<P STYLE="font-size: 10pt; text-indent: 3.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>exh_231.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 23.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-weight: bold; text-align: center">Consent of Independent Registered Public Accounting
Firm</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">We consent to the incorporation by reference in this Registration Statement on Form S-8 of Shenandoah
Telecommunications Company of our reports dated February 21, 2024, relating to the consolidated financial statements, the financial statement
schedule and the effectiveness of internal control over financial reporting of Shenandoah Telecommunications Company, appearing in the
Annual Report on Form 10-K of Shenandoah Telecommunications Company for the year ended December 31, 2023.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">RSM US LLP</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">Boston, Massachusetts</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">May 3, 2024</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="color: #57585B; font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="color: #57585B; font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>4
<FILENAME>exh_232.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
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<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 23.2</B></P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>Consent of Independent Registered Public Accounting Firm</B></P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">We consent to the use of our report dated February 28, 2022, with respect to the consolidated
financial statements and financial statement schedule II - Valuation and Qualifying Accounts of Shenandoah Telecommunications Company,
incorporated herein by reference.</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">KPMG LLP</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">McLean, Virginia</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">May 3, 2024</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"></P>

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<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>5
<FILENAME>exh_1071.htm
<DESCRIPTION>CALCULATION OF FILING FEE TABLE
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<P STYLE="text-align: right; font-size: 10pt; margin: 0pt 0"><B>Exhibit 107.1</B></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Calculation of Filing Fee Table</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>FORM S-8</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Form Type)</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>SHENANDOAH TELECOMMUNICATIONS COMPANY</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Exact Name of Registrant as Specified in its Charter)</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><U>Table 1: Newly Registered Securities</U></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="1" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; border: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Security Type</FONT></TD>
    <TD STYLE="width: 22%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Security Class Title</FONT></TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Fee Calculation Rule</FONT></TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Amount Registered</FONT></TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Proposed Maximum Offering Price Per Unit</FONT></TD>
    <TD STYLE="width: 15%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Maximum Aggregate Offering Price</FONT></TD>
    <TD STYLE="width: 11%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Fee Rate</FONT></TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Amount of Registration Fee</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Equity</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Common stock, no par value per share</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Rule 457(c) and Rule 457(h)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">3,000,000<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$13.01<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$39,030,000<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">$0.00014760</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$5,761</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Total Offering Amount</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$39,030,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Total Fee Offsets</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Net Fee Due</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$5,761</FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">This Registration Statement on Form S-8 (this &ldquo;Registration Statement&rdquo;) covers
an aggregate of 3,000,000 shares of common stock, no par value per share (the &ldquo;Common Stock&rdquo;) of <FONT STYLE="background-color: white">Shenandoah
Telecommunications Company, a Virginia corporation</FONT> (the &ldquo;Company&rdquo; or &ldquo;Registrant&rdquo;) reserved for issuance
under the Shenandoah Telecommunications Company 2024 Equity Incentive Plan (the &ldquo;Plan&rdquo;). Pursuant to Rule 416 under the Securities
Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), this Registration Statement also covers an indeterminate number of additional
shares of Common Stock that become issuable under the Plan as may be necessary to adjust the number of shares being offered or issued
pursuant to the Plan as a result of stock splits, stock dividends or similar transactions.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: left">(2)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Estimated solely for the purposes of calculating the amount of the registration fee pursuant
to Rule 457(c) and (h) of the Securities Act based on the average of the high and low trading prices of a share of Common Stock on the
NASDAQ Stock Market on <FONT STYLE="font-size: 10pt">May 1</FONT>, 2024.</TD>
</TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

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