Company: UZF
Filing Date: 2025-01-14
Form Type: PREM14C
Source: 0000821130-25-000006
Chunk: 12

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-01-14
Form: PREM14C
Chunk 12
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 management. Representatives of Company management provided an update on the sale process for the Retained Spectrum and the status of negotiations with potential counterparties, including ongoing discussions and negotiations with Verizon and AT&T. Representatives of Cravath then provided the USCC Independent Directors with an overview of the corporate approval and disclosure requirements in connection with any sale of Retained Spectrum.

From August 16, 2024 through September 27, 2024, representatives of the Company, TDS and Verizon, 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 regulatory efforts and strategy, closing conditions and timelines, pre-closing spectrum leases and termination provisions.

On August 28, 2024, Party B executed a license purchase agreement to purchase a C-Band license and various CBRS licenses for total consideration of approximately $3.3 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.

From September 27, 2024 through October 11, 2024, representatives of the Company, TDS and Verizon, 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 regulatory efforts, regulatory strategy and filings, exclusion of licenses in connection with obtaining regulatory approvals, a purchase price adjustment in the event of an extension of the spectrum usage rights under the T-Mobile Lease, closing conditions and liability caps.

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 Verizon and AT&T with respect to the potential sales of the Retained Spectrum and the current status of the related license purchase agreements and other transaction documents. Representatives of Cravath led a discussion with the USCC Independent Directors on their views on the topics presented by representatives of the Company’s management at the September 27, 2024 meeting of the USCC Independent Directors, including strategic considerations related to the