TDS - Telephone and Data Systems Inc.
01/13/2026 | Press release | Distributed by Public on 01/13/2026 15:14
Asset Transaction (Form 8-K)
Item 2.01. Completion of Acquisition or Disposition of Assets
OnJanuary 13, 2026, Array Digital Infrastructure, Inc. (f/k/a United States Cellular Corporation) ("Array"), a subsidiary of Telephone and Data Systems, Inc. ("TDS"), and certain subsidiaries of Array (collectively, "Sellers") completed the previously announced sale of select spectrum assets to New Cingular Wireless PCS, LLC ("AT&T"), pursuant to the terms of that certain License Purchase Agreement (the "Purchase Agreement"), dated as of November 6, 2024, between Sellers and AT&T (the "Closing").
The purchase price received by Array at the Closing was $1.018 billion, paid in cash. As previously disclosed, $232 million of the purchase price provided in the Purchase Agreement was allocated to certain spectrum licenses in the 700 MHz band (the "Designated Entity Spectrum Licenses") held by entities in which Array now holds 100% of the equity interests. The closing of the sale of the Designated Entity Spectrum Licenses to AT&T occurred at the Closing and, accordingly, no portion of the purchase price was deferred.
Item 8.01. Other Events
Array Special Dividend
On January 13, 2026, the Board of Directors of Array declared a special cash dividend to holders of Array's Common Stock ("Common Stock") and holders of Array's Series A Common Stock ("Series A Common Stock") of $10.25 per share payable in cash to the stockholders of record as ofJanuary 23, 2026. On January 13, 2026, TDS held33,005,877 shares of Series A Common Stock and 37,782,608 shares of Common Stock. The payment date in respect of the dividend is scheduled forFebruary 2, 2026.
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