Company: UZF
Filing Date: 2025-01-23
Form Type: DEFM14C
Source: 0000821130-25-000013
Chunk: 21

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-01-23
Form: DEFM14C
Chunk 21
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 Company of the Agreement, the performance by the Company and its subsidiaries, as applicable, of their obligations contained therein and the consummation of the AT&T Transactions, on the terms and subject to the conditions contained in the Agreement and (c) resolved to recommend approval of the Agreement and the AT&T Transactions to the Company’s stockholders in accordance with the DGCL.

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Later on November 6, 2024, effective following the execution and delivery of the Agreement, TDS, which on such date beneficially owned 33,005,877 shares of Series A Common Stock and 37,782,826 shares of Common Stock, representing approximately 96% of the voting power of the then-outstanding shares of capital stock of the Company in matters other than the election of directors, delivered (a) the Transaction Written Consent approving, authorizing and ratifying the AT&T License Purchase Agreement and the consummation of the AT&T Transactions and (b) the Future Sale Written Consent approving, authorizing and ratifying the sale or disposition by the Company, its subsidiaries or any other entities in which the Company or its subsidiaries may be an investor, of any wireless spectrum licenses that are not contemplated to be sold under the agreements relating to the 2024 Sale Transactions, whether effected prior to, on or after the date of the Future Sale Written Consent, in each case, at such times, pursuant to such documents, instruments or agreements, and on such terms and conditions, as may be approved by the USCC Board and, in accordance with the requirements of the applicable delegations of authority, the Board of Directors of TDS.

In arriving at their determinations and recommendations, the USCC Independent Directors considered and discussed a significant amount of information and consulted with their independent legal and financial advisors and the Company’s senior management team. The following are some of the significant factors that supported the USCC Independent Directors’ recommendation that the USCC Board approve, adopt and declare advisable the Agreement and the AT&T Transactions (which are presented below in no particular order and which were neither ranked nor weighted in any manner by the USCC Independent Directors and are not exhaustive):

• the USCC Independent Directors’ belief, after taking into consideration the factors described in this Information Statement and other factors, that overall long-term stockholder value is more likely to be increased by effecting the AT&T Transactions than it would if the Company pursued other strategic alternatives for the Spectrum Assets, including retaining the Spectrum Assets;

• that the Limited Partnership and