Uniti and Windstream complete merger; former Uniti holders receive 0.6029 shares per share, ~62% ownership

Uniti Group Inc.

Exchange ratio 0.6029; former Uniti stockholders hold ~62% of New Uniti common stock.
Windstream equity holders receive $575M preferred stock, warrants (6.9% FD), and $370.7M cash.
New 10-member board appointed, including two Elliott designees (Sunu, McLaughlin); CEO Gunderman continues.
New Uniti ceases to be a REIT; adopts 2025 equity plans (6M shares Incentive Plan, 1M ESPP).
Lock-up agreements for six months; Elliott gets board representation rights based on ownership thresholds.

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