Company: UZF
Filing Date: 2025-01-23
Form Type: DEFM14C
Source: 0000821130-25-000013
Chunk: 19

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-01-23
Form: DEFM14C
Chunk 19
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2024 through the signing on November 6, 2024, the Company, TDS and AT&T, along with their respective legal and financial advisors, continued to negotiate the terms of the License Purchase Agreement and the other primary transaction documents, including the Company’s obligations related to the Limited Partnership Licenses, potential exclusion of Licenses and divestiture requirements in connection with obtaining regulatory approvals, escrow for Qui Tam Litigation, indemnification caps and carve-outs, and pre and post-closing leases.

On November 6, 2024, the USCC Independent Directors held a meeting with representatives of Cravath, PJT Partners and WBK. A representative of WBK delivered an overview of the key terms of the License Purchase Agreement and other transaction documents, noting the changes to the License Purchase Agreement and the other transaction documents since the October 31, 2024 meeting of the USCC Independent Directors. A representative of WBK also provided an overview of the FCC regulatory considerations associated with the potential sale of the Spectrum Assets to AT&T. Representatives of Cravath reviewed with the USCC Independent Directors draft resolutions, which had been discussed during the October 31, 2024 meeting of the USCC Independent Directors, recommending to the USCC Board the execution of the License Purchase Agreement and the entry into the transactions contemplated thereby. Following discussion, the USCC Independent Directors unanimously approved such resolutions.

Later on November 6, 2024, the TDS Board held a meeting, with representatives of the Company’s management, TDS, WBK, Sidley, Clifford Chance, and Citi in attendance. Representatives of WBK delivered an overview of the key terms of the License Purchase Agreement and other transaction documents, which were in substantially final form. Company’s management, WBK and Clifford Chance also included an overview of regulatory considerations associated with the potential sale of the Spectrum Assets to AT&T.

Also on November 6, 2024, the USCC Board held a meeting with representatives of the Company’s management, TDS, WBK, Cravath, Clifford Chance, and Citi in attendance. Representatives of WBK delivered an overview of the key terms of the License Purchase Agreement and other transaction documents which were in substantially final form. WBK also included an overview of FCC regulatory considerations associated with the potential sale of the Spectrum Assets to AT&T. The Company’s management then reviewed draft resolutions provided to the USCC Board (a) approving the transactions with AT&T and (b) authorizing the Company’s management to