Company: UZF
Filing Date: 2025-01-14
Form Type: PREM14C
Source: 0000821130-25-000007
Chunk: 23

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-01-14
Form: PREM14C
Chunk 23
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 respect to obtaining the Required Regulatory Approvals;

• the procedural safeguards and processes implemented to enable the USCC Independent Directors to determine the fairness of the Agreement and the AT&T Transactions to the Company stockholders (other than TDS), including, but not limited to:

◦ the independence of the USCC Independent Directors, both from TDS and from Company management, and that the USCC Independent Directors are not receiving any compensation that is contingent on, or related to, their approval of any transaction, the Agreement or the AT&T Transactions;

◦ the authority granted to the USCC Independent Directors by the USCC Board to, among other things, review and evaluate potential strategic transactions, and the fact that the USCC Board committed not to proceed with approving any potential strategic transactions without a favorable recommendation from the USCC Independent Directors;

◦ that the AT&T Transactions are structured as a sale of assets by the Company in exchange for a cash payment by AT&T to the Company, with the treatment of any net proceeds of the sale of the Spectrum Assets to be determined by the USCC Board;

◦ that the USCC Board had authorized the USCC Independent Directors, in the sole discretion of the USCC Independent Directors, to retain advisors to assist the USCC Independent Directors in connection with the potential strategic transactions, and that as so authorized, the USCC Independent Directors retained and received the financial and legal advice of (a) PJT Partners as their own independent financial advisor and (b) Cravath as their own independent legal advisor;

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◦ the confidential deliberations of the USCC Independent Directors; and

◦ that the financial and other terms and conditions of the Agreement and the AT&T Transactions were the product of extensive arm’s-length negotiations over the course of several months among Company management, Cravath and PJT Partners, as representatives of the USCC Independent Directors, TDS, with the assistance of its legal and financial advisors, and AT&T and its representatives, as described under the section entitled “ Background of the AT&T Transactions ”;

• the frequency and extent of the USCC Independent Directors’ deliberations, including their regular meetings with their legal and financial advisors, and their access to the Company’s management and their advisors in connection with the USCC Independent Directors’ consideration and evaluation of the Agreement and the AT&T Transactions; and

• the terms and conditions of the License Purchase Agreement, as discussed in more detail in the section entitled “ The License Purchase Agreement .”

The beliefs and