secwatch.observer — SEC 8-K summary
======================================

Issuer:     TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK:        0001051512
Form:       8-K
Filed at:   2024-05-28T23:59:59+00:00
Accession:  0001104659-24-065662
Event type: m_and_a
Sentiment:  neutral
Materiality: 1.00
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TDS and U.S. Cellular agree to sell wireless ops and spectrum to T-Mobile for $4.4B
--------------------------------------------------------------------------------

- Purchase price of $4.4B in cash and debt assumption; $400M escrowed for certain spectrum, $100M contingent on milestones.
- Buyer to conduct exchange offer for up to $2.044B of Seller debt, reducing purchase price.
- Closing subject to HSR, FCC, CFIUS approvals and business separation; termination fee of $60M payable by Buyer.
- Master License Agreement: 15-year license on ~2,000 towers and extension on ~600 towers post-closing.
- Put/Call Agreement for 600 MHz spectrum licenses valued at ~$106M; one-year term from closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1051512/000110465924065662/0001104659-24-065662-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1051512/000110465924065662/tm2415307d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-065662

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer