Company: UZF
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000821130-25-000070
Chunk: 2

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 2
Chunk 2
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628.8 million in cash proceeds and $1,665.0 million in debt assumed by T-Mobile through the preliminary results of an exchange offer made to Array's debtholders, which subsequently closed on August 5, 2025. Certain of these amounts are subject to final adjustment approximately 180 days after the closing date. As of September 30, 2025, Array recorded an estimated purchase price true-up due to T-Mobile of $20.2 million. At closing, Array and T-Mobile entered into a Short-Term Spectrum Manager Lease Agreement and Short-Term Spectrum Manager Sublease Agreements which provide T-Mobile with an exclusive license to use certain Array spectrum assets and leases at no cost for up to one-year for the sole purpose of providing continued, uninterrupted service to customers. In addition, at closing, Array and T-Mobile entered into a Master License Agreement (MLA), pursuant to which, among other things, T-Mobile has agreed to license from Array space on towers owned by Array. The wireless operations and select spectrum assets sold to T-Mobile are presented as discontinued operations throughout this report. See Note 2 — Discontinued Operations in Notes to Consolidated Financial Statements for additional information.

In addition to the sale of Array's wireless operations and select spectrum assets sold to T-Mobile pursuant to the Securities Purchase Agreement, Array also separately entered into the following agreements to sell spectrum license assets.

Spectrum LicensesBuyerPurchase PriceBook Value as of September 30, 2025Signing DateEstimated Close Date1(Dollars in thousands)AWS, Cellular and PCSVerizon$1,000,000 $585,579 October 17, 2024Q3 20263.45 GHz and 700 MHzAT&T$1,018,044 $860,145 November 6, 2024Q4 2025 - 1H 2026700 MHzT-Mobile$85,000 $64,267 August 29, 20252026600 MHzT-Mobile$86,387 $86,454 October 7, 20252026

1     These license transactions are subject to regulatory approval and other customary closing conditions, and in the case of the sale to Verizon, the termination of the T-Mobile Short-Term Spectrum Manager Lease Agreement. The timing of regulatory approval may be impacted by the duration of the ongoing shutdown of the U.S. federal government. See Note 6 — Acquisitions and Divestitures in the Notes to Consolidated