In a webcast that aired Thursday, Solavei CEO Ryan Wuerch announced that the company will shut down on December 4. Wuerch explained that Solavei was not able to "reach terms with our current mobile service provider to continue providing quality, cost-effective service to our members," and that the "competitive landscape of the mobile service industry" forced Solavei to make a series of changes that "put an incredible strain on our company."

Solavei launched in 2012 and signed up more than 400,000 members during its history. However, in late 2013, the company angered members when it introduced a new rate plan that throttled how much cellular data they could use. In June 2014, Solavei filed for bankruptcy. In March 2015, the company announced plans to merge with Netherlands-based Aspider as it emerged from Chapter 11 proceedings.

Solavei is recommending that its current customers switch to T-Mobile prepaid service. T-Mobile is offering Solavei customers who switch their first month of service free as well as a $10 credit each month until June 2016 if they port-in by December 4, 2015 and continuously remain on a qualifying prepaid plan through June.