secwatch.observer — SEC 8-K summary
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Issuer:     TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK:        0001051512
Form:       8-K
Filed at:   2025-08-04T23:59:59+00:00
Accession:  0001104659-25-073367
Event type: m_and_a
Sentiment:  positive
Materiality: 1.00
Item codes: 1.01, 1.02, 2.01, 3.03, 8.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TDS closes $4.3B sale of Array wireless ops to T-Mobile; special dividend $23/share
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- Array (fka US Cellular) sold wireless operations to T-Mobile for ~$4.3B: $2.6B cash + $1.7B debt exchange.
- Array signed 15-year Master License Agreement with T-Mobile: minimum 2,015 towers, interim on ~1,800 towers, 600 existing sites extended.
- Array declared $23.00/shr special dividend on Series A & Common stock, record Aug 11, payable Aug 19 (est. ~$2B total).
- T-Mobile accepted $1.68B aggregate principal of Array notes; remaining ~$364M notes outstanding; cancellation expected Aug 5.
- Array repaid and terminated securitization facility and bank facilities; no termination penalties incurred.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1051512/000110465925073367/0001104659-25-073367-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1051512/000110465925073367/tm2518822d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-073367

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