Company: UZF
Filing Date: 2025-01-14
Form Type: PREM14C
Source: 0000821130-25-000007
Chunk: 16

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-01-14
Form: PREM14C
Chunk 16
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 the License Purchase Agreement, Closing conditions, indemnification, and pre and post-closing spectrum leases. In addition, the Company was advised that the Limited Partnership and AT&T continued to discuss the sale of certain of the Limited Partnership Owned Licenses to AT&T. The Limited Partnership subsequently notified the Company that it was no longer engaged in negotiations with respect to such proposed sale. After the Company received that notice, the Company agreed to structure the sale of the Limited Partnership Owned Licenses as a sale by the Company, contingent on the closing of the transfer of ownership of the general partner of the Limited Partnership to the Company. The total purchase price for the Limited Partnership Owned Licenses was $232,043,717, bringing the total Transaction Consideration for the AT&T Transactions up to $1,018,043,717.

As of September 30, 2024, the book value of the assets to be sold to AT&T pursuant to the License Purchase Agreement was $858 million.

On September 23, 2024, Party A executed a license purchase agreement to purchase a 700 MHz license for total consideration of approximately $2 million.

On September 27, 2024, the USCC Independent Directors held a meeting with representatives of Cravath, PJT Partners and Company management. Representatives of Company management provided the USCC Independent Directors with an overview of strategic considerations related to the Retained Spectrum and various other assets and businesses retained by the Company, as well as certain organizational matters.

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From September 27, 2024 through October 11, 2024, the Company, TDS and AT&T, with the assistance of their respective legal and financial advisors, continued to negotiate the terms of the License Purchase Agreement and the other primary transaction documents, including the addition of the Limited Partnership Owned Licenses to the License Purchase Agreement, the purchase price holdback for Licenses encumbered by the T-Mobile Lease, protecting the Licenses during the interim period between signing and closing, indemnification, Qui Tam Litigation (as defined in the Agreement), assignment, and pre and post-closing leases.

On October 11, 2024, the USCC Independent Directors held a meeting with representatives of Cravath and PJT Partners. Representatives of Cravath provided an update on the status of negotiations with AT&T and Verizon with respect to the potential sales of the Retained Spectrum and the current status of related license purchase agreements and other transaction documents, including closing, liability, and regulatory efforts