Company: UZF
Filing Date: 2025-01-23
Form Type: DEFM14C
Source: 0000821130-25-000012
Chunk: 16

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-01-23
Form: DEFM14C
Chunk 16
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 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 Verizon Transaction (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 Verizon Transaction than it would if the Company pursued other strategic alternatives for the Spectrum Assets, including retaining the Spectrum Assets;

• 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 Verizon Transaction 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, Verizon’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 Verizon with 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
”);

• Verizon’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 October 17, 2024, would deliver the requisite stockholder vote shortly following the signing of the Agreement;

• the USCC Independent Directors’ assessment of the likelihood that