Cogent to acquire T-Mobile's Wireline business; $1 purchase price plus $700M IP transit deal

COGENT COMMUNICATIONS HOLDINGS, INC.

Purchase price of $1 for membership interests; T-Mobile to pay $700M for IP transit services over 54 months.
Acquisition includes Sprint's U.S. long-haul fiber network, customers, and related liabilities.
Expected to close in second half of 2023, subject to regulatory approvals and conditions.
Cogent does not plan to issue new debt or equity; dividend per share expected to continue increasing.
Morgan Stanley advised Cogent; Houlihan Lokey advised T-Mobile.

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