Company: UZF
Filing Date: 2025-01-14
Form Type: PREM14C
Source: 0000821130-25-000007
Chunk: 22

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-01-14
Form: PREM14C
Chunk 22
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 alternatives for the Spectrum Assets, including retaining the Spectrum Assets;

• that the Limited Partnership and AT&T had engaged in, and subsequently terminated, negotiations regarding the direct sale by the Limited Partnership of certain of the Limited Partnership Owned Licenses to AT&T, AT&T remained interested in acquiring such Limited Partnership Owned Licenses thereafter and AT&T was willing to acquire such Limited Partnership Owned Licenses in 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;

• that the Company publicly announced that it would opportunistically monetize the Retained Spectrum, and then conducted a broad outreach to potentially interested parties, including communicating with 26 potential counterparties regarding the potential sale of the Retained Spectrum and receiving indications of interest regarding different combinations of spectrum from seven of these potential counterparties, and the AT&T Transactions and the terms of the Agreement were the most attractive to the Company among the indications of interest received regarding the Spectrum Assets from potentially interested parties;

• that at the conclusion of the sale process, AT&T’s proposal was more favorable than the other preliminary proposals submitted to acquire the Spectrum Assets;

• that the Transaction Consideration exceeds the book value for the Spectrum Assets;

• the terms of the Agreement, including the pre-Closing and post-Closing spectrum leases that would provide for early access to some of the Spectrum Assets and also may protect the Spectrum Assets following expiration or termination of the Short-Term Spectrum Manager Lease Agreement dated as of September 12, 2024, by and among T-Mobile License, LLC and the subsidiaries of the Company named therein (the “

#### T-Mobile Lease
”);

• AT&T’s business reputation, experience and capabilities, including its experience with mergers, acquisitions, and other similar transactions outside the ordinary course of business and its track record of successfully closing such transactions;

• the USCC Independent Directors’ belief that there are a limited number of potential acquirors for the Spectrum Assets;

• the terms of the Agreement, including the expectation that TDS, which beneficially owned 96% of the total voting power of the Company as of November 6, 2024, would deliver the requisite stockholder vote shortly following the signing of the Agreement;

• the USCC Independent Directors’ assessment of the likelihood that the AT&T Transactions would ultimately be completed following regulatory review based on, among other factors and after consulting with outside regulatory counsel, the timeline to obtain the Required Regulatory Approvals and satisfy the other conditions to closing and the commitments received from AT&T with